Burnham Yacht Harbour - Press announcement

[Athene V30]

THE Crown Estate, has announced it has bought Burnham on Crouch Yacht Harbour.

Purchased from East Coast Marinas Ltd, the 350 berth marina, which sits on the north bank of the River Crouch, outside the town of Burnham on Crouch, is home to the famous Burnham Week, the longest running annual yachting regatta on the UK mainland.

The yacht harbour now joins many other prestigious holdings of the Crown Estate, including Regent Street in London, Windsor Great Park and Ascot Racecourse.

Burnham Yacht Harbour includes 350 fully serviced pontoons, boatyard, chandlery, yacht brokers and The Swallow Tail bar and restaurant which overlooks the marina.
The sale constitutes all the land, buildings, seabed, fixed assets and pontoons that form part of the marina.

Burnham Yacht Harbour Marina Limited has entered into a fifty-year lease with The Crown Estate to operate the marina.

Rob Hastings, Director of the Marine Estate at The Crown Estate, said, "We are delighted with this latest purchase as part of our marine leisure investment strategy. Burnham Yacht Harbour is an invaluable resource to the sailing community on the east coast and will be a great addition to our growing marina portfolio."

 

[Vamoose]

That was kept quiet.. I spoke to several people in the town (Burnham) this morning who have berths in Burnham Yacht Harbour and they knew nothing about it

 

[Solene]

I own my berth at BYH and this is news to me too!

 

[moondancer]

I am going to sound very dumb. Who are Crown Estates? Are they Prince Charles? The Government? A private company?

Also what happens to those with long term leases on pontoons issued when the original operators needed some cash and have been honoured by subsequent owners?

So many questions - so little time.

 

[MoodySabre]

From Crown Estates website:

[ QUOTE ]
We have two main objectives: to benefit the taxpayer by paying the revenue from our assets directly to the Treasury; and to enhance the value of the estate and the income it generates.

[/ QUOTE ]

Feel proud that the increase in charges will help the government /forums/images/graemlins/wink.gif

 

[Vamoose]

Crown Estates Announcement

 

[shmoo]

So has it been nationalized, like the banks?

 

[tillergirl]

I think you are right.You'd have thought with all the money the Government has borrowed that a prudent lot would stop buying things they don't have to. Surely even a 12 year old could suggest that revenue in the leisure industry will be tough business for quite a while. But then if they've bought it for a v good price......

 

[mikebirch]

As I understand it the Crown Estates have purchased the freehold only. The current owners will be paying rent to the Crown Agents. So the marina is not nationalised and Crown estates are not at risk from leisure industry incomes being hit.