Moorings - Mediterranean Moorings makes first acquisition
Mediterranean Moorings, the PLUS-listed UK company that was recently established for the purpose of acquiring Mediterranean yacht moorings and/or other property within marina developments off ...
... plan and selling them on at a profit, has made its first acquisition.
The company has purchased four 35m (115ft) moorings at Marina Genova Aeroporto, a 500-berth marina near the centre of Genoa, Italy, for a total consideration of EUR4.04 million. They were secured off plan through a EUR100,000 deposit earlier this year, as the marina is currently under construction.
"We have now completed our first acquisition and continue to aggressively pursue other similar mooring opportunities in the Mediterranean, as we believe we have identified a niche property sector with significant potential for growth," says company chairman Mike Nash.
According to a group statement, the directors intend to dispose of all moorings acquired at or prior to completion at a profit.
B to B { 05/04/2007 }
