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Akl marina berth demand.


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Whats everyones gut feel or observations on demand and prices for marina berths in and around Auckland, particularly 12m berths. Is demand and prices on the increase or decrease? 

 

The reason I'm asking is that I've been offered the option to buy my current berth from its private owner. I'm currently subletting on very reasonable terms of roughly opex + 10%, however the owner now wants out and has offered me first dibs on the berth at a reasonable market rate. I've previously regarded marina berth ownership as a lousy investment however as Akl grows I'm wondering if its time to commit and secure for the long-term or continue to chance it on the rental market.

 

Any thoughts or observations would be much appreciated.

 

 

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In my information quest into canal boating in France, have ascertained that a 12m berth in a nice marina can be had for €75/month including water but excluding power. This is not a sharp price, just the average. Makes you wonder...

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Your questions response largely depends on the Marina being referred to, if its Westhaven KM is on track and Bayswater westpark and Pine Harbour, if its OBC or Half moon bay then the berth has value and wont drop. Westpark the going rate for 12M seems to be settling at $2000.00  which is up from the $10.00 I was trading them for ten years ago despite the silting up of the place. Dont know much about Gulf Harbour but demand doesnt seem that high. 

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If you owned a marina and had a lease expiring, why would you renew it?  The model of lease gives the owner a market variable opportunity for income vs selling.  My concern is that the marinas are basically controlled by so few parties it puts the whole industry into the category of monopoly in NZ.  Especially Auckland.  Like all things during a recession the value will drop again surely.  

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If you look around (trademe and marinaberths.com) there are not many berths for sale, take Bayswater and Hobsonville out of the equation and there are very few remaining berths advertised.

Westhaven is not renewing any licences, the last expire in 2029, if you do the calculation buying a license + paying the OPEX is a little cheaper than rental for the same duration;

Bayswater, Hobsonville and Pine Harbour - you can be sure OPEX will continue to increase significantly to pay for the purchase of the marina's (there has been the odd rumour he has been sniffing around Gulf Harbour

Gulf Harbour has the (good) anomally of the very long licence, there is not one berth listed for sale there.

Fairway Bay is rental only, Grant runs it really well and has a long waitlist

Half Moon Bay, BBBYC, and Sandspit are incorporated societies so can only charge to cover costs. All these marinas are seeing increase in value of licences and very few berths for sale

Orakei seems stable, always has been most expensive in Auckland

Decisión can really come down to whether you want the security of "owning" your berth

Final note is that the strongest demand is for big berths, 16m+.

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Below is 12M berths available mainly for rent ( a couple for sale) from just the first page of Trademe marina berths.  If you want to be a total train spotter, you are welcome to go through rest of T/Me pages, but one page was enough for me.

 

This starts to affirm my suspicion: Marinas have had it good for too long with their fu__king ridiculous berth rental rates. To have this many up on Trademe indicates it is now becoming renters market (at least for punters in the 12m range) It seems like people are voting with their feet and giving marinas the two fingered salute with their idiotic daylight robbery.

 

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1275617143.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1275277998.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1273784097.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1273744079.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1271745569.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1271242409.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1270950742.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1270912330.htm

http://www.trademe.co.nz/motors/boats-marine/marina-berths/auction-1269831699.htm

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Two years ago down our pier at Westhaven (mixed 12 and 14m berths) there was hardly an empty berth and we were on the waiting list to get a 12m.  At that point we were at Bayswater and it had a good selection for rent, but we then discovered why.  No amenities, rubbish traffic.  

 

We then got our berth at Westhaven, but the number of empty berths has progressively increased.

 

We keep tossing up selling the boat, at $9k just for parking it is a serious luxury.

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I Agree with Duty Free. The recent Westhaven rent increase was the last straw for me and The Marshall will be going up for sale shortly. The overheads in owning and racing a 40ft keeler are just too high for this fella. Add in all the ridiculous hoops that you have to jump through (electrical WOF, Cat 2 changes, etc etc) it's just too much. And then to top it off, go for a shower in the toilet block near B pier, and there is 1 shower only. Want hot water with that? Put $2 in the machine. When you're paying $920 a month you expect a little better. Rip off! 

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Please don't confuse the previous duty free and the Duty Free that is me --l actually agree with the comments and one of the reasons l am hearing of people not trading up is the cost of a bigger berth --I am regularly approached by brokers but keep saying l cant/don't want to afford the cost of a bigger berth and l am happy with the 1220 l have and the 12m berth --fairly soon the fees will push some of us out of the best marina around so if we want to stay on the water we either trade back down or move elsewhere.

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It's a really interesting subject this.  I remember the days when Bayswater hardly had any boats in it.  Now days it's pretty much full.  Same with Westhaven.  We probably need a recession to sort out the pricing and demand for berths.  However at the moment with demand being so high why would marinas drop prices?  

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Is our (and I'm a newbie to marina berths - only rented at westhaven for 5 years now) attitude a case of older guys and girls remembering that berth holders had either ownership or a very real say in the marinas? How they were run etc.

That's not so true now - it's a corporate/large council thing now.

Sign of the times? Bad times maybe?

I have to say that even at an age that's not far from retirement (read - OLD), I'm thinking of going back to a trailer sailer. I can play with her, (the boat) without the berth costs. I can launch wherever. I can walk into the back yard and fall in love with the 'view'. Yes the hassles of boats on land - but at retirement (not quite yet), I have the time to piss around with boats. And if she and I never get out on the water, we'll still love each other - at no on-going cost. Just admiring glances in the garden.

Hey, it's friday. Might have had a beer or two,......

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That's my rationale for the Dragon. Okay it's not as launchable as a TY but I don't want to have to own a tow vehicle either. I'll still use a marina or mooring through summer. But through winter I can perve at it from my living room and it costs nothing to keep.

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