MDL Sant Carles Marina

[Andrew38]

Anybody got views on the lease deals that MDL are offering on their new marina at Sant Carles in Spain. 28 year lease on a 15m berth for just over £50k with MDL style management. Seems like a good deal for everyone. They get the finance and critical mass of the berth users to justify going ahead, we get an (apparently) low cost mooring by a company that has always given good service in the UK. And it's only 2-3 hours cruising to the Balearics. They've taken reservations on all the 20 metre berths and nearly all the 15m so there seem to be a lot of people who think that it makes sense!

 

[jimg]

Is it a good deal? What sort of prices do these berths resale for and what would the annual rental be? Or does it vary wildly depending on location?

 

[jimg]

No -one boat around here then....... /forums/images/graemlins/confused.gif

 

[Deleted User YDKXO]

Well a 28yr lease on a 15m berth at a well known marina in the nearby Balearics or Costa Blanca might cost you in excess of £150k so from that point of view its a good price if all you want is a mooring for your boat in the Med
But if you're looking at from the point of view of a boating base, I'm not sure there's much in the way of local cruising to do from there and it seems to be a long way from Barcelona airport so maybe weekend boating would be a hassle
As an investment, IMHO the crucial consideration is what are the rules for renting the berth out. Are you only allowed to rent through MDL, in which case how much of the rent are you going to get, or can you rent it independently and what are the level of service and local charges
Its certainly an interesting project given that W Med berths are at such a premium

 

[terryw]

Nearest airport is Reus, which is less than 1 hour away, and MDL are hoping to arrange a coach service from airport to marina.
The only restriction on renting the berth is you must charge at least the same as MDL will be charging, but they do not take any of it.
Service charges are quoted as being 1700 Euro's per annum.

 

[John007]

I have signed up for a berth there.

MDL get 10% of any rental,
you the bertholder get 90%.

Don't know what this actualt rental fee is, but I guess it is comparable with surrounding marinas which means it should be a nice bit of pocket money.

The staff already there are fantastic by the way...

Cheers .. John.

 

[Hurricane]

I've signed up as well and intend going to the next stage and paying the first third.
We have managed to get one of the 20m ones.
Had a look round the area last autumn but we know the area from a few years ago when my parents had a villa nearby.
There isnt much cruising locally to the West/South apart from a few small interesting marinas but to the north there are a few small bays that I was ably to get to in the car when we went there to have a look.
However, just outside the marina there is a huge lagoon (only 6m deep but with some shallows) - We hired a boat and had a look out on the lagoon - it should be great for a lazy day out away from the hussle abd bussle of the marins.
Distances as follows
Balearics 94 miles
Taragona 40 miles
Barcelona 76 miles
Valencia 73 miles
Denia 108 miles
(Taken from MDL's FAQs)
It seems to me that a trip to the Baleearics would be like going to the Channel Islands from the Solent (in distance anyway)

The marina itself will have pontoon style berthing similar to the MDL sizes in the UK.
They are also building a swimming pool, spas and a club on the site.
I believe that several of the MDL staff are also buying so they seem to believe in the project themselves.

John007
The way I see it is that the 10% MDL charge for subletting is if they find a subletter and not you - I think if you find someone to rent (either short or long term) you take the rent but there was something about not undercutting the marine - I've got to read through it all again anyway so I'll check that bit again.

Reus airport is less than an hour away - I know cos I've done it.
Ryanair flights at this time of the year cost 1p plus taxes (about £15/£20) but you have to select a cheap time to travel - In the summer I think a return trip will cost you about £80/£100.

I spoke to the MD at MDL earlier this week and he assure me that work has now started (on schedule) - he hopes to have a web cam installed in the next few weeks - I'll post the address when it goes live.

 

[simon]

I've signed up for a 15m. Yes I read it the same, you only pay the 10% if the Marina sublet the berth for you.

 

[Richard10002]

[ QUOTE ]
Service charges are quoted as being 1700 Euro's per annum.

[/ QUOTE ]

£50K loan @ 6% = £3k p.a + £1200 p.a. service = £4200 p.a. = £11.50 per night

plus £1785 p.a. to repay the capital, makes £6K p.a. if you write it off in a straight line.

(alternatively, you might own an appreciating asset)

 

[terryw]

We reserved a berth, but decided not to proceed.
We looked at the pro's and con's Nice weather, nice country, good price, distances to anywhere, getting there (and how many times), the winds etc, but the final decider was the requirement for a Grey water tank, which we do not have.