Private equity looking to cherry-pick UK marinas

A new Leisure Market Review which looks at activity, trends, and challenges across the marine sector, from holiday parks and marinas to visitor attractions, has been released by property adviser Christie & Co.

“The UK leisure property market has demonstrated resilience and adaptability in 2025, amid a shifting economic and political landscape,” says Jon Patrick, director and head of leisure & development for the firm. “Following a strong performance in 2024, the sector has continued to attract investor interest, particularly in high-quality, well-operated assets across key segments such as holiday parks, marinas, and leisure complexes.

“The outlook remains cautiously optimistic. The anticipated easing of the cost of living crisis and potential interest rate cuts could further stimulate investment and consumer activity. However, success will hinge on operators’ ability to innovate, manage costs, and deliver compelling experiences that resonate with a value-conscious public.”

Christie’s report (which also appears to be a sales brochure, but with interesting sections) says that the UK marina market is comparatively modest in scale when compared to other leisure sectors, such as holiday parks (the latter incorporate several thousand businesses). The industry is fragmented, with the majority of marinas in private ownership and only a relatively small number of transactions taking place each year. (In contrast, the US saw a major deal in April, with Sun Communities selling 138 marinas (Safe Harbor) to Blackstone Infrastructure for $5.65 billion.)

Christie & Co posits that UK marina sales are often driven by a lack of succession in long-held family-owned marinas but says that at the corporate level interest from private equity real estate is growing, especially among multi-site operators seeking capital restructuring.

High development costs and limited suitable locations remain major barriers to entry to the marina market which means, as a result, the market is seeing increased consolidation and opportunistic acquisitions. Marinas with over 200 berths and potential for diversification remain particularly sought after, especially among multi-site operators seeking capital restructuring.

Marinas with potential for expansion — either in additional berths or through secondary revenue streams such as floating lodges or holiday accommodation — are in high demand, appealing to both marine and broader leisure investors as, obviously, rising berthing and storage fees support profitability.

Thus, the company’s predictions for the marine market in 2026 look at mergers and acquisitions.

“We anticipate an increase in corporate M&A activity, driven by falling interest rates and capital restructure opportunities,” says Patrick’s report. “Boat brokerage sales are expected to remain more challenging. Marinas in excess of 200 berths and with opportunities to diversify the business offering will be in greatest demand. Poorly invested marinas will be at greatest risk of business failure, and we may anticipate further potential distress involving both secured lenders and HMRC seeking to protect their positions.

“We expect to see further cross-sector acquisition activity from the holiday and residential park markets as well as high-net-worth individuals making selective acquisitions.”

Patrick notes: “The launch of our first Leisure Market Review provides timely insight into a sector that continues to evolve in the face of shifting economic headwinds.

“Despite ongoing challenges, we’ve seen remarkable resilience and a clear uptick in transactional activity in early 2025, particularly for high-performing assets with opportunities to diversity their income streams. The appetite from investors remains solid, and we are optimistic about the continued steady growth of the sector.”

The transactional market, says the report, indicates strong demand for high-quality, well-operated assets, with the number of offers made on leisure businesses more than doubling in H1 2025 compared to H1 2024 and the number of deals agreed in this period tripling.

Christie & Co recently looked after the purchaser of an inland marina in a rural location on the banks of the River Cam, which had been family owned for over 30 years. The business was valued for HSBC who are providing funding to a purchaser, a new entrant to the marina market. The marina boasts 63 berths across a man-made basin and riverfront on a 4.6-acre site, with room for further expansion.