Port Bouvard offloads marina

FOLLOWING the sale of The Cut golf course to director John Kelly and his associated company, Vive Holdings, Port Bouvard has announced the sale of the Port Bouvard Marina within the development to Mr Kelly for $6.13 million. The combined cost of the golf course, property and marina to Mr Kelly is $26.13 million. The marina includes a number of commercial businesses already established, including a cafe, houseboat hire and bait and tackle shop, all of which are on long-term leases. The deadline for a sales agreement on the assets had earlier been extended by agent Knight Frank after strong market interest. Port Bouvard will now concentrate on selling remaining lots of land in its two developments at its namesake development and at Princeton Private Estate.

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