Spanish Marina Berths - a good investment?

BlueSkyNick

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SWMBO and I spent last week on the Costa Blanca, partly to chill out (which we did in both senses!) and partly to consider our work-into-retirement planning.

We rented a wonderful apartment owned by Steve_Clayton of this forum, and SWMBO Lizzie (check out their website ) with views from 400metres above sea level.

Of all the places visited, we prefered Moraira and El Portet next door, and found what type of properties would be affordable. One of the estate agents had told us the marina has a very long waiting list, so before leaving we thought it prudent to put our name on it anyway, as long as there was no significant cost.

On visiting the marina office, we were told there is no waiting list at all - basically each berth holder has a shareholding in the marina which were all sold over 15 years ago. You have to wait for somebody else to sell, which is often because they are giving up boating for whatever reason, and they will only sell you the berth if you buy the boat that is on it! Apparently one guy put his boat in Denia just up the coast and when a berth in Moraira became available, bought the berth - and another boat identifical to the one he already owned!!

The investment opportunity is to buy a berth and rent it out privately, as there will generally be worthwhile growth in the capital as well as an ongoing income from the rental.

So how much do you need to invest? If you have anything upwards of 120,000 Euros to spare you might be in with a shout - assuming you can find somebody who is selling /forums/images/graemlins/shocked.gif /forums/images/graemlins/shocked.gif /forums/images/graemlins/frown.gif

Makes the Solent marinas seem cheap, dunnit?

Now back to the atlas to carry on the retirement planning! /forums/images/graemlins/confused.gif
 

nicho

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I don't think that system works in all the Costa Blanca Marinas Nick, unless things have changed in the last 12 month or so. Last year I checked out Alicante Marina, a huge and very modern marina withing easy walking distance of the town centre. There were certainly berths to rent there, and for our 11.4 metre boat, the cost worked out at just about £2000. Of course, there's no "investment" value in doing it that way.

As I sit here, watching snow falling, I can't really understand your motives behind looking overseas..........especially as it snowed when I was in Madrid three weeks ago!
 

BlueSkyNick

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Ummm, interesting. I think your boat would be over 7000 up in Denia.

Problem with ALicante would be having to live there.... not keen. We were looking for the mythical quaint unspoiled harbour, which doesn't exist because x million people have been there before us.

BTW, it went down to 2degs one night last week, where we were, too!

Had a great sail though!
 

trev

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Me an' 'er are having a place built in Torrevieja. Did a bit of snooping around the marina and was pleasantly surprised at the rental costs - lower than the UK. Didn't ask about buying one - but its worth a thought if the option exists.
We were out there three weeks ago, perfect weather the week before, but the coldest week for thirty years for us !! Had to buy gloves and sweaters.
 
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What is the service charge though?

This can make it look less attractive.

If you're going to live aboard for a large part of the year and want to move around a lot then is having capital tied up in one place also such a good idea. Different if you're working and can only get to the boat for restricted periods of time. OK you can let your mooring out or even get the marina to do the commercial bit for you but that will errode your income significantly.

Steve Cronin
 

Woodentop

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Get Your Barge-pole Out

These are leases.

The berths are usually sold on a 25/30 year lease around the time the marina is finished.

With 15 years left to run on yours for 120,000 euros you are looking at 8,00 euros per year PLUS the service charge.
All maintenance bills for the marina will be shared among the leaseholders (need a new sea wall after the storm ? )

At the end of the 30 years you have nothing.

BUT buy a berth and rent it out. The marina operator takes a cut (check the terms of the lease).
It is all a bit like a chain letter - it only works if you can sell it on.
 

wagenaar

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Re: Get Your Barge-pole Out

Torrevieja is possibly the most unsafe place in Spain. It is said that Torrevoeja is the place where the russian mafia gathers. Be carefull if you buy there. Another disadvantage of Torrevieja is the absence of a hard-standing area. I visited a number of marinas in the med and Torrevieja is one of the cheapest.
S. of Torrevieja in the Mar Menor are also a number of marinas.
I suggest that you also consider going to the Costa del Sol; in Almeria are a number of pleasant marinas, such as Aguadulce and Almerimar.
 

smee

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Re: Get Your Barge-pole Out

[ QUOTE ]
Torrevieja is possibly the most unsafe place in Spain. It is said that Torrevoeja is the place where the russian mafia gathers.

[/ QUOTE ]

That's scaremongering talk!

Torrevieja (and Spain) is as safe or unsafe as any town in Europe or England. You will be mugged, burgled, etc., if you are stupid, but not if you are careful - just like anywhere else!

Marina Internacional now has security gates and cameras to a standard of any Solent marina, and the town is only likely to be unsafe to the idiots who leave their brains at the airport!
Over the last 5 years I have seen only one crime - the snatching of a bag whose owner had thoughtfully placed it on a chair by the pavement for all and sundry to pick up on their way past!

There was a Russian presence (some property was Russian owned) within the marina at one time but in five years I have never heard of any serious crime as a result of them, that involved non Russians (ie they generally shoot their own dodgy kind, as a result of their own dodgy dealings!), and now the property is no longer Russian owned so it would seem they have apparently gone anyway!
In fact, it is more likely that one probably has more to fear from criminal ex-pats who could try and relieve you of your money by some means or another, than by being troubled by a Russian mafioso!
 

John_Lana

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Re: Get Your Barge-pole Out

As has been mentioned, all marina berths in Spain are lease-hold, and in many of the older marinas that lease is now quite short - 6 to 9 years or even less in some cases. Do make very sure that you know what you are buying - when the lease runs out you have nothing......

John
 
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