Marinas and boatyards are mixed-income businesses - combining marine service revenues (lifting, storage, repairs, fuel) with retail income (chandlery, brokerage) and property income (berth fees, workshop rentals). This complexity, combined with the specialist marine assets they operate, makes boatyard finance a specialist discipline. Doulton Bridging Finance arranges finance across the full range of marina and boatyard capital requirements.
Travel Lift and Slipway Finance
The travel lift is the centrepiece of most boatyard operations and its capacity determines the size of vessel the yard can haul. Finance options:
- New travel lift: HP or finance lease, 7–12 years, 10–20% deposit. Leading manufacturers: Travelift (US), Ascom (Italy), Cimolai (Italy).
- Used travel lift: HP, 5–10 years. Lenders typically restrict to lifts in good operational condition with maintenance records.
- Slipway upgrade: Business loan or asset-backed finance for concrete works, winch replacement. 3–10 years.
Chandlery and Retail Fit-Out Finance
Chandlery businesses are specialist marine retailers. Fit-out finance (shelving, storage systems, POS systems, display equipment) and initial stock finance are available through:
- Asset finance for fixtures and fittings: HP, 3–5 years
- Unsecured business loan for stock and working capital: 1–3 years
- Invoice finance against wholesale supplier accounts
Workshop Equipment Finance
Boatyard workshops require investment in: GRP repair equipment, power tools, spray booths, pressure washers, compressors, tractor units and forklift trucks. All financeable through asset HP, 3–7 years, rates 7.5–12% p.a.
Pontoon Replacement Finance
Marina pontoon replacement is a cyclical major capital expenditure. Aluminium pontoon systems last 25–30 years; concrete pontoons 30–50 years. A 50-berth pontoon replacement programme typically costs £200,000–£800,000. Finance structures:
- Asset finance lease: 10–15 years (pontoons have long useful lives)
- Commercial mortgage (if marina holds freehold): release equity for pontoon capital expenditure
- Business loan: shorter term (5–10 years), simpler structure for smaller pontoon projects
Boatyard Premises Finance
Marinas and boatyards with freehold premises are significant property assets - particularly those with established water frontage, quayside access and planning for marine use. Commercial mortgage finance against boatyard freehold property: LTVs of 60–75%, terms 10–25 years, rates from 5.5% p.a. depending on income and lease structure.