LONDON, 18th September 2017, Salamanca Group, the London based Merchant Bank, announces the transferal of ownership of Marina Port Vell in Barcelona to two partners; QInvest LCC and a regulated investment fund beneficially owned by the Vagit Alekperov family. Salamanca Group acquired the marina in July 2010 as an asset backed opportunity with a vision to transform the marina into a preeminent superyacht destination in the Mediterranean.
The Group invested US$100m+ to transform the marina into a superyacht destination to better service existing and future customers. The transformed marina catering for 150 yachts up to 190m and featuring two new buildings, has won various awards, notably “Global Project” in the FX International Interior Design Awards in 2015, and placed the marina and Barcelona on the superyachting map. As evidenced by the move of the MYBA Charter Show after 16 years from Genoa to Barcelona and the sale of a 160m long term berth lease earlier this year, Marina Port Vell is now well-recognised in the yachting industry. In 2016 the marina saw an increase in yacht charter numbers compared with 2015; a 31% growth in yachts over 30 metres; 85% in those over 80 metres; and 742% in the 100 metre plus category.
Additional activities at the marina include the operation of a 150-cover restaurant and bar, and asset management for multiple tenants in luxury offices.
The project provided direct and significant economic and aesthetic value to Barcelona contributing 836million euros into the city in 2015 and provided 8,300 jobs*. The investment was instrumental in the regeneration of the port area and Salamanca Group reinvigorated the city’s maritime heritage through inspiring the development of a Nautical Cluster – a group of Barcelona-based businesses strengthening maritime opportunities for the City.
Martin Bellamy, Chairman and CEO of Salamanca Group comments, “We are pleased to have left an indelible mark on Barcelona. Our ability to acquire and transform the asset is a prime example of the Group’s breadth of expertise, offering a crossover in investment, advisory and real estate services. As owners and hands-on managers throughout the seven years of ownership, the management team were very close to the project, and we wish the new owners every success for the future.”
Marina Port Vell is currently branded under OneOcean Ventures, a luxury marine brand, launched in 2014 by Salamanca Group which focuses on delivering high quality facilities and services to the yachting industry. In 2015, following the transformation of the marina, OneOcean Ventures licensed the use of the OneOcean brand to Marina Port Vell.
Salamanca Group continues to conduct business in the yachting industry under OneOcean Ventures and is actively seeking future opportunities across the globe.
*Chamber of Commerce 2016.
For further information contact:
Dominique Allnutt, Salamanca Group
+44 (0)207 495 7070
+44 (0)7920 299284
Notes to Editors
About Salamanca Group
Salamanca Group is a privately-held Merchant Banking business, home to experts in global investment and advisory, London real estate and private client services. The company builds highly valued, long-term relationships with individuals, corporates, institutions and governments. The Investment division is a global, multi-asset class business with a focus on tangible asset middle-market opportunities ranging between US$20-200m investment size at entry point. The Advisory team provide valuable services at every stage of the business life-cycle and focus on tangible asset businesses. Salamanca Group was established in 2002 and has advised on investments in excess of US$10bn.