On Tuesday Grand Harbour Marina announced the long-term licensing of a superyacht berth with a net value of €2.2 million, excluding VAT.
The licence of the berth, on a new agreement for a different term, was issued after the company and the previous licencee agreed to terminate the previous agreement early. The company paid a settlement amount in view of the early termination.
Through its announcement on the Malta Stock Exchange, the company noted that this transaction is expected to have “a positive effect on both profit and cash flow for the company.”
The Grand Harbour Marina is owned by Camper & Nicholsons Marinas and is located in Vittoriosa, right next to Palumbo shipyards, which offer refit and maintenance services.
The marina has 26 superyacht berths welcoming vessels up to 135 metres long. Furthermore, it also has annual, seasonal and visitor berthing available for 10-metre yachts.
Superyacht berths are designated mooring spots or docking spaces specifically designed for superyachts with infrastructure and services to accommodate the size and needs of superyachts.
Written By
Anthea Cachia
Anthea has a passion for writing, meeting new people and telling stories. With an insatiable curiosity Anthea loves roaming localities in search of long-established small businesses. When not scribbling away on a notebook or tapping on her computer, you can find her experimenting in the kitchen or traveling.
