The Wellcome Trust has acquired marina operator Premier Marinas from BlackRock.
Premier Marinas’ operations include more than 5,000 wet and dry berths, shore storage for more than 2,000 boats and 300,000 sq ft of rental property across its eight south coast marinas. The business was put up for sale in December 2014 with an asking price of around £220m.
The Wellcome Trust has an £18bn endowment that already includes property and agricultural operations.
Peter Pereira Gray, managing director of the Wellcome Trust’s investment division, said, “Taking sole ownership of Premier Marinas adds a third wholly-owned UK asset backed operating business to the trust’s investment portfolio and is a demonstration of our commitment to the industry and our confidence in the management team and employees.”
