Tingdene Group has acquired Farndon Marina, located on the River Trent near Newark in Nottinghamshire, UK.
The acquisition expands Tingdene’s footprint to 11 marinas across the UK and establishes the company’s presence on the River Trent for the first time.
Farndon Marina has been owned by the same family since 1966, when the 25-acre freehold site was originally purchased and developed by local businessman and boating enthusiast Mark Ainsworth.
The sale will facilitate the retirement of Mark’s son Paul and his wife Janet who have spent their careers working in, evolving and growing the business.
The marina comprises more than 300 private berths and moorings, with berthing fees and chandlery sales forming the backbone of the business, together with boat sales brokerage and marine services, which incorporates repair, maintenance and boat lifting.
Recent investments have been made in technology to improve day-to-day operations, site security and enhance the customer experience, as well as the development of amenity buildings including workshops, visitor facilities, office space, and new pontoon walkways.
“The sale of Farndon Marina marks the end of an era for Janet and I,” said Farndon Marina MD Paul Ainsworth, who has managed the marina for the last 16 years.
“It has been an emotional journey to come to the point where we will hand the business over to new owners.
“We have made many friends with our berth holders over the years, and we are confident that the success of Farndon will continue with the fantastic team we have on site, who will continue to be great assets to the marina.”
Ian Collier, MD of Tingdene Group, added: “As a family business ourselves, we immediately understood the great opportunity Farndon Marina presented and the work that Paul and Janet had put in over the years.
“The sale of Farndon Marina marks the end of an era for Janet and I.
Paul Ainsworth
“Location-wise, the business extends our marina network northwards, but from a wider group perspective which includes both holiday and residential parks, it is very centrally positioned in the East Midlands which works well for us.”
Potential plans for the marina include a holiday park, motor home and touring caravan facilities and floating lodges.
The marina had attracted a wide range of interest from inland marina operators, as well as holiday park operators and investors, resulting in a competitive bidding process for the business, explained Jon Patrick, head of leisure and development at Christie & Co which handled the sale process.
Farndon Harbour Moorings Limited were represented by Browne Jacobson and Xeinadin and Tingdene Group by Shoosmiths.
