With the growth of the sharing economy, renting and a focus on experience are more popular than ever. In the marine industry this is contributing to a slowdown in boat ownership numbers; occupancy, in inland marinas in particular, is also experiencing a small dip. 

However, the counter argument to this is the rise of shorter term lets including hire boats and day trip boats. Novel ideas to make the most of this trend include boat hotels and floating spas. Other uses for moorings and waterways are also being sought which do not require primary reliance on the berthing model.  

The traditional holiday lettings and rental market has already been rocked by the likes of Airbnb and there are signs that the marina market is next to be shaken. One of the largest areas of growth is from companies such as Beds on Board, an accommodation platform similar to Airbnb, helping owners list their boats as overnight accommodation.

A report from British Marine stated that Beds on Board has identified eight million suitable boats worldwide that could be used within their model, because they are used on average less than 10 per cent of the year by their permanent owners. As with Airbnb, operators will need to carefully consider what restrictions they place on moorers in relation to sub-letting.

A further growth area has arisen from the lack of housing for first-time buyers and affordability in high demand areas such as London which has increased demand for alternative solutions.

Residential moorings can command high values, but the marine industry has a number of characteristics which don’t have to be considered when buying a house. In particular, terms should be carefully verified before purchase, particularly if buying with a boat, to understand the length of mooring ownership, the abilities to be moved and whether the mooring licence can be assigned.

In addition, many people are unaware of what regulations surround marine lettings and moorings in relation to council tax, planning and legal requirements regarding maintenance.

As with so many other sectors, in the inland and coastal mooring world it is becoming more important to understand where demand lies and to be sufficiently flexible in meeting it.

Further information

Contact Savills Leisure & Trading