A renaissance of the nation's waterways which includes a sustained and unprecedented increase in boat ownership has led to an attractive investment opportunity for farmers. Waterside land next to British Waterways' 2,200 miles of canals and rivers is key to much needed marina development that is proving to be an increasingly popular option for farming diversification.
British Waterways forecasts that an additional 10,000 new marina berths need to be created over the next nine years to keep pace with demand. In conjunction with the Country Land & Business Association, the public corporation is inviting farmers interested in learning more about marina development to a seminar on how they can profit by using waterside land to develop new marinas.
The seminar at Calcutt Marina in Warwickshire on 6 September 2007 will include expert speakers from British Waterways' specialist New Marinas Unit who are currently working with a number of farmers throughout the UK to bring forward marina developments. During the seminar British Waterways specialists in marina development will be on hand to provide advice and showcase examples of farmers successfully using part of their estate to diversify into this growth leisure market. There will also be a tour of Calcutt Marina which has recently added 140 new marina moorings.
There are almost 31,000 licensed boats on British Waterways canals and rivers with growth in inland waterways boating of around 4% per annum. 80% of boat owners are aged over 50 and demand is primarily being driven by an ageing population and increased investment in the amenity value of the waterways.
Nigel Sheppard, general manager of British Waterways' New Marinas Unit, comments: "A single inland waterway marina berth can be expected to fetch over £1,000 each year, and with more craft on the canal network today than at the height of the Industrial Revolution, the opportunity for farmers is evident. Just about all existing marinas have waiting lists."
In March 2006 British Waterways published a guide outlining the attractive inland marina investment and development opportunities that exist on the UK's canal and river network. The Inland Marina Investment Guide sets out the size of the market opportunity for growth, as well as possible investment returns of up to 18 per cent from large marinas. Since publication, capacity for some 1,600 marina berths has been created on British Waterways' canals and rivers with a further 500 new marina berths projected for completion before the end of the current financial year.
Nigel Sheppard, continues: "Whilst this investment opportunity has attracted much interest from prospective investors, it is waterside land owners that can also benefit from this attractive growth opportunity. A number of farmers are already diversifying into marina ownership, however the growth and demand for boating is such that it can support many, many more developments. I estimate an opportunity for some £100 million of investment over the next decade."
British Waterways and the Country Land & Business Association have previously held a similar seminar at Swanley Farm in Cheshire. The oversubscribed event profiled a dairy farmer near Nantwich who successfully opened a 315 berth marina in 2006 on the Llangollen Canal.
The seminar on 6 September is open to those in the rural sector thinking of embarking on a marina development. It costs £20 and includes lunch. Running from 10am to 3pm, places are limited to 25. For further information or to book attendance on the seminar contact the CLA on 01785 284722 or for information on marina development visit www.britishwaterways.co.uk/marinadevelopment.
