Ardent Leisure sells its 1,300 d'Albora marina berths
Ardent Leisure has sold the d'Albora Marinas portfolio for $126 million.
It has been bought by a jointly owned syndicate headed by Goldman Sachs and Sydney‐based commercial property lender and fund manager Balmain Corporation.
The sale of the country's largest marina portfolio was at a 11 per cent premium to its current book value of $113.5 million.
It was listed in March as Ardent's focus is on its Main Event entertainment operation and theme parks.
The company also sold its health clubs earlier this year.
The portfolio comprises seven high-profile marinas with more than 1300 berths at Rushcutters Bay, The Spit and Cabarita Point in Sydney, two marinas adjacent to the Melbourne CBD and two at Nelson Bay and Akuna Bay, north of Sydney.
"The group's decision to prepare d'Albora Marinas for sale with extended lease tenure, targeted capital works and a transparent sale process has ensured that the maximum value for investors has been realised," Ardent chief executive Deborah Thomas advised.
The sale of the d'Albora Marinas was handled by McVay Real Estate marketing it as representing over 1,300 berths, substantial water and land leases along with development opportunities.