Leisure operator snaps up marina in seven-figure deal
A leisure operator has landed a seven-figure funding package from HSBC UK to expand its portfolio of properties.
Lakeland Leisure Estates has used a seven-figure funding package from HSBC UK to buy a new 20-acre marina located in Staffordshire.
Barton Marina, a holiday destination on the Trent & Mersey Canal in Barton-under-Needwood, has capacity to host over 300 canal and river boats. The site neighbours a number of other businesses, including a pub, a cinema and range of retail outlets and eateries.
Lakeland Leisure Estates has plans for refurbishment and expansion of the Barton Marina site, with work expected to begin in January 2023 to modernise facilities.
When complete, the newly refurbished Barton Marina will allow Lakeland Leisure Estates to offer its Roam Free Scheme, allowing boat owners to travel between its five marinas at no added expense.
Lakeland Leisure Estates is also expanding its boat sales service to include the Barton Marina site.
Mark Morgan, managing director at Lakeland Leisure Estate, said: “Funding from HSBC UK has allowed us to acquire Barton Marina and we can’t wait to get underway with work to realise the potential of the site. We look forward to starting our development in the new year and hope our current and future guests are equally excited to see the finished results.”
David Edwards, relationship director at HSBC UK, said: “It’s fantastic to support Lakeland Leisure Estates with the acquisition of Barton Marina and with its plans to modernise the site. Lakeland is known within the industry as an organisation that delivers high quality customer service and we’re sure this attention to detail will be replicated at Barton Marina. We look forward to seeing the site flourish in 2023.”