A community group is fundraising to buy a North Wales marina that has entered administration.
If successful, the Menter Felinheli aims to be the first community in Wales to buy a sea port and marina.
The organisation needs to raise at least £300,000 by the end of November 2023.
Marina at Y Felinheli – Port Dinorwic Marina – has been in the hands of the receiver since June 2023 and was the port where Dinorwig slate was exported around the world.
The aim of the organisation is to secure the future of the marina and use any profits from the running of it for the benefit of local people with profits from the operation of the site channelled back to enhance the marina and harbour and for other community projects in the future.
Successful venture
Those involved say an offer has been made to the administrator, based on an experts’ evaluation.
Menter Felinheli is now crowd funding to raise the necessary monies and believes a success could be made of the venture.
In its fundraising proposal, the organisation states: “The previous owner owned five marinas, Y Felinheli’s being one of them, and they all went bankrupt together. Having looked at the figures, we are confident that running the harbour and marina in a different way would be successful.”
The marina has around 180 berths in two distinct locations, plus several buildings, plant and machinery, workshops, an inner dock, office and cafe building, the old harbour office, a lock control building and a tidal pontoon basin. There is also a hard-standing area for around 13 boats.
In its business plan, Menter Felinheli predicts that over the first three years the marina will maintain an annual average profit after tax in the region of £115,00 with an estimated 75% occupancy rate.
The marina was established in the 1980s.
