Time is right to buy a lease in the Med

British company, Triangle Berth Brokers, says now is the time to invest in a long lease in the Med.

Owners Nic and Marie Parton have been brokering long leases and annual berths for sailors, marinas and yacht captains in the UK and Europe for 30 years, but it’s over the last few years where they have increasingly worked with owners looking to move to the Mediterranean.

Longer leases are popular in Europe, Nic Parton says, with the Côte d’Azur and Balearic Islands pretty much 100% lease. “The marina operator effectively becomes a service charge company, administering berths. The only way to guarantee a berth in the most popular ports of the Med is buying one. For instance, if you want to stay in Palma you have to buy.”

There are opportunities coming in the Côte d’Azur in the next year or two, as longer leases there come to an end, so now is the time to make that initial enquiry if the French Riviera appeals. And while Greece has always been a popular destination, Triangle has found a big increase in enquiries for marinas in Montenegro, Spain and Turkey.

Porto Montenegro

“As some of our customers look for new cruising grounds, we try and stay ahead of the game to find new marinas to work with. Montenegro is a current hotspot and Albania is an area to watch,” continues Parton. “Majorca is in the position it is in because of environmental restrictions. They’re not building any new marinas, or extensions, so prices have rocketed. It will be interesting to see how the rest of the Med changes over the next few years. Annual prices creep up every year, but it’ll be interesting to see if they plateau because of the pandemic.”

This year has been particularly busy for Triangle Berth Brokers as Covid-19 has substantially increased the number of boat owners returning to their home waters. “Quite a few British sailors are bringing their boats back to the UK due to travel restrictions,” explains Parton. “They just want to get a berth sorted out. We do that for them.”

Celebrating its 30th year brokering, Triangle says that the business of berth brokering hasn’t changed much in the last 30 years. It offers a no-nonsense, time-saving approach for those looking for berths. The company can collate, for example, all the annual berthing quotes on the Hamble, instead of an owner having to listen to a potentially time-consuming sales pitch from each marina.

“It’s like buying a house,” says Parton, who first encountered the long-lease boom when working for a marina on the south coast. “After the initial investment, people have to pay an annual service fee, but they get security and feel like part of the marina. Owning a long lease helps you fix your berthing costs and it doesn’t take long to make good savings compared to paying annual berthing fees.

“The boat market is full of diverse people including those who are cash-rich but time poor. We help save time.”

Other benefits of long leases, whether in the UK or abroad, can include fixed costs and the opportunity to sublet if owners want to take a couple of years out the water or to go cruising. Long leases were snapped up by owners who spotted their potential when they first came onto the market, when marinas started offering them in the late 1960s. Since then, they’ve been a well-kept secret, changing hands through companies like Triangle Berth Brokers.

The company also offers independent advice to those wishing to invest in long-lease berths. That advice includes marina locations, best deals and opportunities for gaining returns.