Çeşme Marina on the western extremity of the Izmir Peninsular in Turkey, was a bland, undeveloped and uninspiring dock basin, home to a handful of resident and charter boats with no activity. The site was acquired from government on a 25 year Build-Operate-Transfer contract through a joint-venture between IC Ictas Holdings and Camper & Nicholsons in 2009.
The transformed development, which has since won several awards, now offers some 400 berths for vessels up to 60m, with numerous on-shore tenancies of shops, bars and restaurants, all managed by Camper & Nicholsons. Occupancy in the marina grew in just three years to close to capacity and the shoreside tenancies, which were fully subscribed from day one, remain 100% occupied.
Added value:
- Transformation of a very basic pontoon facility with no shoreside amenities
- Built entire marina village with retail, F&B, hotel and entertainment venues
- Created highly popular destination with 15,000 visitors per weekend in the high season
- Established as yacht racing centre for the region
- Contributed to economic uplift in neighbouring town
Capital cost and financial implications:
- Achieved 100% berthing occupancy and 100% of commercial units let within first three years
- Repair and embellishment of existing basin and quays
- Modifications to breakwater and sea wall to further improve wave conditions and provide potential for additional berths
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