Marina Developments Making Smart Investments

14.04.15

Marina developments are an increasingly prominent component in the lifestyle real estate mix. So where are the smart investors docking? Laura Henderson reports

As the super-yacht industry boasts record international sales and marinas begin to rival golf resorts, property investors it seems, are moving in to grab a slice of the best waterfront action. According to agents Engel and Voelkers with the number of individuals with assets of more than £20m having grown by almost 50% in the last three years a “good many” are not just investing in a super-yacht, they’re also “buying a waterfront pad with a dock to showcase their floating assets.”

For Sandra Kettler of international agents Coldwell Banker however, it’s not all about millionaires on their gin palaces: “While demand for homes with pontoons or access to marina berths is rising, supply is also restrained by growing restrictions on development of canal side residential estates and waterfront marinas. This is adding greater scarcity value to this type of property, so if you’re fortunate enough to find a dockside home you like-stick with it. Growing demand and constrained supply make for a nice little nest egg for the future.”

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Mauritius

A rapidly growing niche sector in its residential tourism portfolio – the idyllic Indian Ocean getaway of Mauritius is targeting a HNW property investor base with a growing collection of luxury marina living opportunities that also offer residency status as part of the purchase package. Located close to the fishing village of Tamarin on the island’s west coast and clustered around a stunning yacht basin, West Island Resort’s diverse real estate portfolio spans one and two-bedroom turnkey suites and family homes through to deluxe penthouses and larger double-storey villas, all with direct water access.

The community focal point, the centrally located entertainment hub includes all the leisure and pleasure trimmings residents might expect including a day-spa, gym, pool, restaurant and hair salon, as well as a dedicated marina complex for boating and diving services.

Established in terms of the Mauritian Real Estate Scheme (RES), which allows foreigners to buy freehold property on the island and in turn to obtain residency if they so choose, the resort is already attracting significant buy-in from soon-to-be-retirees. Says project spokesperson Ross Alexander: “Mauritius has a track record of strong capital growth on property investments, with personal and commercial taxation currently capped at just 15%. Choosing a property with marina access offers the potential for solid returns in the future.”

Oman

An integral part of prestigious luxury residential community The Wave in the upscale capital of Oman - Muscat, 400-berth Almouj Marina is already making HNW headlines as the premier marina facility and flagship yachting and sailing destination in the Sultanate.

The €1.84bn mixed-use project developed in partnership between the Omani Government and Dubai-based Majid Al-Futtaim, is the first integrated tourism project for the country. Stretching along six kilometres of pristine coastline, once complete, the community will include four luxury hotels, a plethora of leisure facilities, together with 4,000 residential properties ranging from stand-alone villas to courtyard homes. Properties are available freehold to non-Omani nationals, with the right to apply for residency included.

Recently launched and with a high percentage of foreign buyers already in the mix - Reehan Residences comprises 99 prime site villas located at the western boundary of The Wave golf course and within walking distance of the marina and community beach. Properties will be available in different configurations and sizes to suit individual home buyer requirements, with spacious garden lots for outdoor entertaining space and private pools.

Residents will have easy access to a wealth of leisure and entertainment facilities including the PGA standard 18-hole Greg Norman golf course at Almouj Golf and the upcoming opening of the active social and retail hub offering designer shopping and fine dining. Property prices start from £410,000.

Cyprus

With phase one of an interval roll-out of luxury villas now complete at the €350 million Limassol Marina project on Cyprus, this prestigious master plan community has seen buyers from Europe, Russia and the Middle East snapping up waterfront boltholes with nearly 75% of the development now fully operational; the first yachts using the marina, changing the face of Limassol town as part of a major regeneration plan.

Comprising 162 luxury apartments, 74 villas and 650 berths, the project is also the first fully serviced marina on the island able to accommodate super yachts. All marina berths available have access to fresh water, electricity, fibre optic network providing high speed broadband, high speed wireless internet and telephone. There are also haul out and shore side technical facilities, a boat yard for light repairs and maintenance, and 24 hour security and concierge services.

Says local agent Thomas Penton: “The project has set the bar for marina living in the Eastern Mediterranean and been a major boost to the island’s economy enticing HNW buyers and providing a new focus for tourism and inward investment.” Completed apartments start from £604,000.

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