Pitmans has advised Premier Marinas Limited on its acquisition of Noss Marina, which is just outside Dartmouth, from the Administrators Duff & Phelps.
Noss comprises nearly 40 acres set in natural woodland with a commanding water frontage to the River Dart.
Pitmans' experience working with marina and waterside development benefited the process which involved six months of protracted and complex four-way negotiations.
John Newton commented: “We are delighted to have had the opportunity to work with Premier Marinas on this exciting project from the outset. Access to the site via the bridge that crosses the Paignton-Kingwear railway will also be improved. The investment in the site will be supported by sensitive residential development."
Premier Marinas Limited has today completed the purchase of Noss Marina from the Administrators Duff & Phelps. The marina was purchased for an undisclosed sum following a period in Administration. Set in 37 acres on the eastern bank of the River Dart in Kingswear, close to Dartmouth, the Noss Marina site accommodates 180 serviced pontoon berths, 47 river moorings and a limited boatyard operation. Premier plans to work alongside local stakeholders to design and deliver a mixed use, employment-led, regeneration of the site, most of which is currently in a derelict and unusable state. This regeneration is expected to bring over £100m of investment into the area, creating a new identity for Noss as part of the Dartmouth and Kingswear community.