On 6 October 2011 Camper & Nicholsons Marinas announced the sale of a 30-metre berth at Grand Harbour Marina in Malta for an undisclosed amount. This is the second sale at the marina this year following that of another 30-metre super-yacht berth for a total consideration of €436,320 in March.
In a press release issued by Camper & Nicholsons, the UK-based buyer of the berth indicated that the reason behind this purchase is Malta’s unique package of benefits which include its central Mediterranean location, high-quality facilities, extensive yacht-support services, availability of berths for sales and other financial advantages.
Camper & Nicholsons stated that berth owners benefit from rises in marina occupancy through a 60% share of any sub-leasing income. The press release also mentioned that rates for superyacht berths at GHM have risen to €2,020 per square metre from €500 per square metre in 2003.
C&N explained that Malta is becoming a unique one-stop-shop for financially astute yacht owners supported by many yacht-related businesses from yacht financing and registration to residency and tax support. Moreover, another of Malta’s key strengths when it comes to berth sales is that the contract is in the form of a deed which provides the owner with a definitive right of ownership for the duration of the contract as opposed to that of a long term lessee.