Berthing and service options for boat owners
The Marine Group (The Group) provides a wide range of first class berthing and service options for leisure and commercial boat owners.
Through their integrated offering of complementary marine services they aim to make owning a boat as easy as possible. Whether you are a fisherman, competitive sailor, family sailor, cruiser or commercial operator they are able to offer you a comprehensive boating service to ensure your time with your boat is spent on the water enjoying yourself.
Through their sister company Bayscape Ltd, they are developing exciting new landside facilities at Cardiff Marina. Berth-holders will benefit from a new marina-side bar and restaurant, new shower and bathroom facilities and a new marina office.
Bayscape Limited, also owned by the directors of The Marine Group, has recently completed an agreement with ICG-Longbow to be the 'capital partners' for their highly anticipated residential development at Cardiff Marina. They have agreed a £23 million loan to fund the development of 115 apartments, a waterside bar and restaurant and a suite of niche commercial units that overlook the marina.
The Development Managers and Directors, Christopher Odling-Smee and Drew McDonald, assembled a strong and credible project team to deliver the Bayscape development and will be supported by Gleeds for project management and cost management services.
Christopher said "Our partnership with ICG Longbow defines a powerful and long-term model for us and one which allows us to plan well beyond the delivery of Bayscape Phase I. We look forward to working with ICGL for many years to come".
The group was delighted to announce that they had completed the purchase of Aberystwyth Marina in September 2015, planning a number of phased investments to upgrade the marina.
Planned works included;
The Group was delighted to have been awarded £300,000 from the Coastal Communities Fund to help towards the upgrade project. This fund aims to encourage the economic development of UK coastal communities by awarding funding to create sustainable economic growth and jobs.
Christopher explained to us that The Group initially entered into discussions with Just Cashflow in 2014 when they were looking for short-term funding to develop their business. The short-term funding was required to work alongside their longer-term funding plans. As a dynamic fast growing company it was imperative for The Group to establish a working relationship with right funding partner.
It was the enthusiasm, together with the positive and genuine interest from the team at Just Cashflow, which encouraged The Group to enter into discussions regarding their short-term funding requirements. It was important for The Group that they entered into a working relationship with an organisation with similar values.
A key factor in entering into the relationship with Just Cashflow was working with a company that echoed The Group's pride and passion in their business, as well as the speed of its growth and development.
When we discussed the cashflow challenge, Christopher explained to us that whilst The Group had long-term funding in place, opportunities would arise that would necessitate additional short-term funding and this is where Just Cashflow filled the gap. Christopher also explained that The Group was in a transition period between banks and this compounded the necessity of access to quick short-term funding.
The Revolving Credit Facility (RCF) was identified as the most suitable product to allow The Group to adequately manage the fluctuations in their short-term working capital needs. The business model operated with seasonal income and in discussion with the decision makers in The Group, Just Cashflow agreed to provide the necessary level of funding which best suited the needs of The Group.
When asked about working with Just Cashflow, Christopher explained that an outstanding factor is the speed and flexibility in the process, and the people. Where an opportunity arose on a Monday, they were able to act on the opportunity by the Thursday. This could be from purchasing a piece of plant / machinery to the acquisition of land.
Christopher explained to us that the relationship has grown and developed over the last 2 years. Having initially applied for funding and gone through the cycle of the application, drawing and using the funding, and receiving an excellent service, The Group has subsequently returned to work with Just Cashflow again and will continue to do so.
Christopher noted that the key benefits of Just Cashflow is the simplicity of the product, together with the speed of process and the working relationship with the team. He commented that whilst the funding may not be the cheapest form of funding, it is worth paying for! It allows their business to act quickly, therefore not missing an opportunity when it arises.Who have we funded?
Are you eligible? See below.
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