West Coast Capital has acquired Port Edgar Marina, a waterfront destination on the Firth of Forth near Edinburgh, for an undisclosed amount. According to Scottish Business News, the investment firm has taken ownership of Port Edgar Holdings Ltd, Port Edgar Marina Ltd and Production Yachts (Port Edgar) Ltd, together with a leasehold agreement with the City of Edinburgh Council that extends until 2100.
Port Edgar Marina has served as a hub for sailing and leisure in Scotland. The site features 320 berths, a fully serviced boatyard and tenant businesses, including marine schools, tour operators and retail outlets.
Revenue at the marina comes from berth fees, retail trade and commercial leases. Under the new ownership, all employees and tenant businesses are secured and will continue operations.
Outgoing owners Cara and Russell Aitken will assist during a short handover period before management transitions to a new team led by Jamie Hunter, Partner at West Coast Capital.
Hunter stated: “We are delighted to have made this acquisition from Russell and Cara Aitken who have done a fantastic job developing Port Edgar. We now look forward to investing further in its development and supporting all the businesses based there, not least Scotts, another one of our portfolio investments.”
The Aitkens took over Port Edgar in 2014 and have since overseen a major redevelopment programme. Their investment included dredging works, improved marina infrastructure and upgraded shore facilities.
Russell Aitken said: “We are confident that West Coast Capital are the perfect owners to take Port Edgar forward. The team are committed to further investment and securing the long-term future of the marina. We would like to thank all our berth holders, tenants, staff and suppliers for their incredible support during our time here. It has been a privilege to serve this wonderful community.”
Images from Port Edgar Marina.
