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We are delighted to offer for sale Marks Point Marina, a well patronized and totally rebuilt marina which is situated on Lake Macquarie, the largest coastal saltwater lake in Australia.

Marks Point Marina is being offered for sale by Expressions of Interest, closing on Thursday 24th November 2022 4pm (AEST). The sale of this well-established and profitable business is being offered as a going concern.

Marks Point Marina is in an extremely popular boating location only about 50 nautical miles North of Sydney Harbour. The marina was redesigned and completely replaced during the period 2015 to 2016. The new marina has 52 wet berths and 26 swing moorings.

Since the rebuilding of Marks Point Marina berths have been highly sought after. This demand has led to a continual escalation in the profit and produced a very reliable cash flow from a business which is easily managed.

This is a unique opportunity because the land content of the Marina sits on FREEHOLD LAND. Marks Point Marina is an ideal business for either an owner operator or knowledgeable investor to acquire. We look forward to hearing from you and assisting with the purchase of this rare and versatile asset.

WATERFRONT INVESTMENTS LIKE MARINA’S ARE RARELY OFFERED TO THE MARKET.

KEY HIGHLIGHTS

• The closest Marina to the Swansea channel (access to the Tasman Sea) available to service the boating requirements of the high net wealth people who live in the Lake Macquarie / Newcastle areas.

• The Marina is situated on the Eastern side of Lake Macquarie which provides patrons with many boating options. The construction method used for the Marina arms and location on Lake Macquarie provides a very stable berthing area which is easily accessed from the open sea.

• New modern on water marina infrastructure and related management operating systems. There has been a significant amount of capital invested in the Marina since 2015 (more than $3.45 million). Upgrades to the Marina include, replacing all marina arms, a new fuel dock, a new floating office, new slipway and refurbishment of the first floor apartment.

• Freehold & Leasehold Titles. A rare combination for a Marina. The 2,100 sqm of Freehold land provides numerous “value add” opportunities.

• Established and sustainable cash flow.

• Significant profit growth potential with a resurgence in demand for berthage.

• Owner manager opportunity. There are three dwellings on the site, including a beautifully presented apartment where the owner could live.

• Portfolio opportunity (spreading management costs).

• All sought after Marinas have a high proportion of the income being derived from berthing & the operation of the slipway. At Marks Point Marina a significant income stream comes from berthing which is obviously in high demand due to the current occupancy rate of 100 %.

• At the time of the sale in 2022 the estimated Net Profit is $659,737p.a. There has been steady profit growth since the Marina was rebuilt in 2015.

PROPERTY ADDRESS

19-23 Edith Street, Marks Point NSW 2013

TITLE

Lot 4 DP 1202889 (Freehold) and Lot 1 DP 1202889 (Leasehold)

INTEREST FOR SALE

100% Freehold (land content), plus 100% Leasehold (seabed)

ZONING

Part IN4 Working Waterfront, part

RE1 Public Recreation, part W1 Natural Waterways (Source – Lake Macquarie LEP 2014)

SITE AREA

9,742 sqm (Source – DP)

MARINA

wet berths

CAR PARKING

Approximately 24 spaces for members, guests & staff

SWING MOORINGS

swing moorings

AVERAGE EBITDA FOR LAST 3 YEARS

SEABED LEASE EXPIRY

18 April 2035 (residual lease term of approximately 12.5 years)

ESTIMATED EBITDA AT TIME OF SALE

SALES PROCESS

Expressions of Interest. Closing at 4pm (AEST) on Thursday 24th November 2022 4pm (AEST)

LOCATION

Marks Point is located 150km North of the Sydney CBD on the Eastern side of Lake Macquarie, one of Australia’s most renowned boating and recreational waterways. The region surrounding Lake Macquarie is best known as a wellestablished holiday and recreational destination in an easily accessible location between the Sydney CBD and Newcastle. However, Lake Macquarie is fast becoming a very popular living destination for those opting for a sea-change or to escape the bustle of nearby Sydney. Lake Macquarie City, which spans 757 square kilometres, features beautiful nature reserves, idyllic beaches, trendy cafes and worldrenowned education opportunities.

In 2021, 214,000 people called Lake Macquarie home, making it the third largest regional city in NSW by population. More than 10,000 people moved to Lake Macquarie in 2016-2017. Population is expected to grow by 28,000 people by 2036, creating demand for 13,500 new dwellings and 12,000 new jobs. (Source – Lake Macquarie Council)

Marks Point Marina is located at Edith Street, Marks Point. The Pacific Highway is 1km to the East, and Swansea, a shopping and entertainment hub within the region, is 5km to the South. Some of the suburbs which are home to wealthy people who choose to live in the Lake Macquarie region, including Caves Beach, Nords Wharf and Catherine Hill Bay, are all within 10km of Marks Point Marina.

There are several marinas on Lake Macquarie including, Marmong Point Marina. Trinity Point Marina, Toronto Yacht Club, Lake Macquarie Yacht Club, and Wyee Point Marina. The Marina which is closest to the open sea is Marks Point Marina. There are many barriers stopping the construction of new Marinas around Lake Macquarie, where berthing occupancy levels are already high. Combining the limited supply of berths with the latest growth forecasts from NSW Maritime estimating average annual growth in vessel ownership of 2.9% till 2026, suggests strong demand for berthing and maintenance services will increase.

LAKE MACQUARIE IS THE LARGEST COASTAL SALTWATER LAKE IN THE SOUTHERN HEMISPHERE WITH AN AREA OF APPROXIMATELY 110 SQUARE KILOMETRES. IT IS CONSIDERED AS ONE OF THE BEST BOAT CRUISING AREAS ON THE EAST COAST OF NSW.

GROUND LEASE SUMMARY

THE SEABED FOR MARKS POINT MARINA IS LEASED FROM THE NSW GOVERNMENT. A SUMMARY OF THE LEASE FOLLOWS:

LESSOR/LANDLORD

State of New South Wales – Department of Planning and Environment – Crown Lands (DPE).

DESCRIPTION

Folio Identifier Lot 1 in DP1202889

LESSEE / TENANT Melissa J Pty Limited

PERMITTED USE Commercial Marina

NO PERMANENT RESIDENCE

RESTRICTIONS ON MOORING, PARKING & STORAGE OF VESSELS

Annually to CPI and market reviews every 5th anniversary of the lease. The next market review is due on 16 June 2022.

The holder will not permit, suffer, or allow any persons to reside permanently on any vessel operated or moored at the premises.

COMMENCEMENT DATE 19 April 2015

EXPIRY DATE 18 April 2035

INITIAL RENT

$36,700 p.a. (Excl. GST)

CURRENT RENTAL

$40,368 p.a. (Excl. GST)

RENT REVIEWS

Annually to CPI and to market reviews every 3rd anniversary of the lease. The next market review is due 18 April 2024.

OUTGOINGS

The Lessee is responsible for all rates, taxes (including Land Tax), duty, fees and charges imposed or levied in respect to the premises.

The Lessee is currently negotiating a new 20-year lease with Crown Lands over the existing leased area (7,642 sqm), plus an additional area of 489 sqm. Details of the new lease should be available in October 2022.

Twenty-six (26) swing moorings are provided outside the leasehold seabed area. The current annual rental paid to RMS for these moorings is $10,496 (Excl. GST).

ZONING

Part IN4 Working Waterfront, Part RE1 Public Recreation and Part W1 Natural Waterways

PLANNING SUMMARY

PLANNING INSTRUMENT

Lake Macquarie Local Environmental Plan 2014

FSR Not Applicable HEIGHT LIMIT 12 metres

OBJECTIVES OF THE ZONE IN4 WORKING WATERFRONT

• To retain and encourage terfront industrial and maritime activities.

• To identify sites for maritime purposes and for activities that require direct waterfront access. To ensure that development does not have an adverse impact on the environmental and visual qualities of the foreshore.

• To encourage employment opportunities.

• To minimise any adverse effect of development on land uses in other zones.

To recognise the contribution that marinas make to the recreational needs of the community.

PERMITTED DEVELOPMENT OF ZONE IN4 (WITH CONSENT)

Aquaculture; Boat building and repair facilities; Boat launching ramps; Business premises; Car parks; Charter and tourism boating facilities; Eco-tourist facilities; Environmental facilities; Environmental protection works; Flood mitigation works; Jetties; Kiosks; Light industries; Marinas; Passenger transport facilities; Registered clubs; Restaurants or cafes; Roads; Sewage reticulation systems; Sewage treatment plants; Signage; Take away food and drink premises; Tourist and visitor accommodation; Water recreation structures; Water recycling facilities; Water supply systems; Wharf or boating facilities.

OBJECTIVES OF THE ZONE W1 NATURAL WATERWAYS

To protect the ecological and scenic values of natural waterways.

To prevent development that would have an adverse effect on the natural values of waterways in this zone.

• To provide for sustainable fishing industries and recreational fishing.

To provide for the recreational use of Lake Macquarie and its waterways as an important environmental, social and economic asset, including maintenance or enhancement of public navigation channels to a depth suitable for yachting and other boating activities.

PERMITTED DEVELOPMENT OF ZONE W1 NATURAL WATERWAYS (WITH CONSENT)

Aquaculture, Boat building and repair facilities; Boat launching ramps; Boat sheds; Building identification signs; Business identification signs; Charter and tourism boating facilities; Community facilities; Emergency services facilities; Environmental facilities; Environmental protection works; Flood mitigation works; Jetties; Marinas; Mooring pens; Passenger transport facilities; Recreation areas; Recreation facilities (outdoor); Registered clubs; Roads; Water recreation structures; Wharf or boating facilities.

OBJECTIVES OF THE ZONE RE1 PUBLIC RECREATION

To enable land to be used for public open space or recreational purposes.

To provide a range of recreational settings and activities and compatible land uses.

• To protect and enhance the natural environment for recreational purposes.

To facilitate the preservation of the environmental qualities of land.

PERMITTED DEVELOPMENT OF ZONE RE1 PUBLIC RECREATION (WITH CONSENT)

Amusement centres; Animal boarding or training establishments; Aquaculture; Boat sheds; Camping grounds; Car parks; Caravan parks; Cemeteries; Centre-based child care facilities; Charter and tourism boating facilities; Community facilities; Crematoria; Educational establishments; Emergency services facilities; Entertainment facilities; Environmental facilities; Environmental protection works; Flood mitigation works; Function centres; Information and education facilities; Kiosks; Marinas; Markets; Places of public worship; Recreation areas; Recreation facilities (indoor); Recreation facilities (major); Recreation facilities (outdoor); Registered clubs; Respite day care centres; Restaurants or cafes; Roads; Sewage reticulation systems; Sewage treatment plants; Signage; Water recreation structures; Water recycling facilities; Water supply systems; Wharf or boating facilities.

Source : Port Stephens LEP 2013

MARKS POINT MARINA

19 EDITH STREET Single Story Commercial Building

19 EDITH STREET Detached Older Style Part Two Storey Residence

21 EDITH STREET Two Storey Interconnected Mixed Use Buildings

23 EDITH STREET

Detached

Older Style

Single Storey Cottage

IMPROVEMENTS

This “near new” marina was reconfigured and totally rebuilt between 2015 and 2016 at a cost of approximately $3.34 million. Currently there are:

• Five Bellingham “unifloat” floating concrete pontoons which provide 52 wet berths.

• A separate fuel & services dock. 26 swing moorings under an RMS licence.

• A single storey floating office.

• On-site car parking area for 24 vehicles.

• The main administration building is a part two storey interconnected mixed use buildings comprising ground floor marina office and convenience shop, a beautiful two-bedroom apartment on the first floor currently used as an Air BNB tenancy, and a first-floor office occupied by an excellent tenant - Transport NSW.

• A single storey commercial building providing marina amenities/store areas & two tenancy areas.

An older style part two storey two-bedroom residence, occupied by a long-term tenant. An older style single storey cottage. Offered with vacant possession. A slipway with 5 x cradles for boats up to 60 foot in length and 30 tonnes.

• A part two storey interconnected mixed use buildings comprising ground floor marina office and convenience stop, refurbished first floor Air BNB tenancy and a Transport for NSW tenancy.

Single storey commercial building providing marina amenities/store areas & two tenancy areas.

• Detached older style part two storey twobedroom residence, occupied by a long-term tenant.

• Detached older style single storey cottage. Offered vacant and derelict.

• Slipway with 5 x cradles for boats up to 60 foot in length and 30 tonnes.

• Bitumen sealed car parking for 24 vehicles.

Ground Floor Marina Office and Convenience Shop

First Floor Refurbished Tenancy

First Floor Refurbished Tenancy

Refurbished Air BNB

Detached Part Two Storey Resi dence

Refurbished Air BNB

Single Storey Cottage

arms provide wet

for 49 boats ranging in size from 7 metres to 20 metres ( 23 foot to 65.6 foot). The fuel and services dock provides

and unleaded fuel, plus a pump-out service and water.

THE MARINA IS CONSTRUCTED OF STEEL PILES WITH HIGH DENSITY POLYURETHANE SLEEVES SUPPORTING WIDE FLOATING CONCRETE FINGER PONTOONS WITH PEDESTALS PROVIDING POWER AND WATER TO EACH BERTH.

The marina is currently staffed by a Marina Manager, Slipway Manager, Painter, Yard Hand, and a Weekend Supervisor.

Sophisticated CCTV coverage and state-ofthe-art computer programs make remote monitoring of the day-to day operations easy and secure. The owner can have 24/7 remote access to all marina activities.

Marina Manager Monday, Tuesday, Thursday, Friday 8am to 5pm

Slipway Manager / Shipwright Monday to Friday 7am to 3:30pm

Painter Monday to Friday 7am to 3:30pm

Yard Hand Tuesday, Thursday & Friday 7am to 3:30pm

Weekend Supervi sor Saturday & Sunday 8am to 4pm (Sat), 8am to 2pm (Sun)

MARKS POINT MARINA PRESENTS AN EASILY MANAGED BUSINESS OPPORTUNITY WITH AN EXPERIENCED, LONG-STANDING MANAGEMENT TEAM IN PLACE TO RUN DAYTO-DAY OPERATIONS.

The Marks Point Marina business is based on a reliable cash flow, particularly from the Berthing fees from an increasing occupancy rate which is currently at 100% & Slipway fees. The following trading history has been provided by the Vendor:

Income Source

Office Rent $96,707 $75,075 $118,814

Berthing & Mooring Fees –Permanent & Casual $417,537 $436,927 $451,641

Fuel $229,008 $249,147 $249,147

Slipway $704,474 $684,757 $684,757

Other $34,126 $43,963 $43,963

Gross Revenue $1,481,852 $1,489,869 $1,548,321

Less Expenses $836,261 $891,195 $888,584

Net Profit (EBITDA)

FINANCIAL SUMMARY

DETAILED

SALES PROCESS

A 100% freehold and leasehold interest in 19-23 Edith Street, Marks Point is being offered for sale by Expressions of Interest, closing on Thursday the 24th November, 2022 at 4pm (AEST).

EXPRESSIONS OF INTEREST

An Expression of Interest must be submitted in writing and as a minimum will need to provide the following information:

Purchasing Entity

Name of the interested party together with the principals supporting the interested party.

Purchase Price

Proposed purchase price in Australian Dollars.

Conditions & Approvals

Prospective purchasers must set out in full, details of any conditions which will need to be satisfied prior to the prospective purchaser either signing or settling a contract for sale of the property.

Transaction Timetable

Confirmation of the prospective purchaser’s due diligence and transaction timetable.

Capacity to Complete

Prospective purchasers should provide details of their capacity to complete by the settlement date, in particular the source of funds and evidence of the prospective purchaser’s financial status and track record in completing similar transactions.

Solicitor

Details of the purchaser’s solicitor.

INSPECTIONS

All inspections by potential purchasers and/or their consultants are to be arranged by prior appointment with the exclusive selling agent.

ELECTRONIC DATA ROOM

To assist with the assessment of the opportunity, an Ansarada data room has been established to facilitate the provision of the due diligence material. Please contact the Exclusive Agent to obtain access

CHANGES TO THE PROCESS

The Vendor reserves the right, in its sole discretion, to postpone or cancel the proposed sale of the 100% interest and to modify or add any terms and conditions to the proposed contract or other materials associated with the proposed sale which may be made available to a potential purchaser.

The agent(s) for themselves and the vendors of the property whose agent(s) they are, give notice that:

(i) The particulars are set out as a general outline only for the guidance of purchasers and do not constitute an offer or contract.

(ii) All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but purchasers should not rely on them as statements or presentations of fact, but must satisfy themselves by inspections or otherwise as to the correctness of each of them; and a draft Agreement for Sale of Business which is available for inspection at the offices of The agent(s). In the event of any inconsistency between this Information Memorandum and the Agreement for Sale of Business, the provisions of the Agreement for Sale of Business shall prevail.

(iii) No person in the employment of the agent(s) has any authority to make or give any representation or warranty whatsoever in relation to the property.

(iv)The agent(s) and the vendor, each of their associates and every person involved in the preparation of this Information Memorandum expressly disclaim any liability on any grounds whatsoever for any direct or consequential loss or damage (whether foreseeable or not) which may result from any party acting on or relying upon all or any part of the information contained in the Information Memorandum notwithstanding any negligence, default or lack of care.