Port Edgar Marina has been bought by West Coast Capital, Scottish businessman Sir Tom Hunter’s investment company, for an undisclosed sum.
The purchase includes the three marina related companies with the long lease with The City of Edinburgh Council which runs until 2100.
The deal ensures that all employees and tenants remain in place under the new owners.
West Coast Capital already invest in Buzzworks which runs Scotts one of the restaurants at Port Edgar.
Jamie Hunter, Partner in West Coast Capital, said: “We are delighted to have made this acquisition from Russell and Cara Aitken who have done a fantastic job developing Port Edgar. We now look forward to investing further in its development and supporting all the businesses based there, not least Scotts, another one of our portfolio investments.”
The outgoing owners Cara and Russell Aitken have run the business since 2014 and have developed it into a growing business with significant improvement over the years including dredging operations, upgrading the marina and the shore-based facilities.
Russell Aitken said: “We are confident that West Coast Capital are the perfect owners to take Port Edgar forward.
”The team are committed to further investment and securing the long-term future of the marina. They already invest in Buzzworks, which owns Scotts Restaurant here at Port Edgar, so they understand the huge potential of the site as a leisure destination and have the vision and resources to realise it.
“We would like to thank all our berth holders, tenants, staff, and suppliers for their incredible support during our time here. It has been a privilege to
serve this wonderful community.”
Port Edgar’s origins date back to 1916 when it was established as HMS Columbine during the First World War. The site functioned as a Royal Navy training facility and became strategically important in the Second World War for minesweeping and anti-submarine warfare throughout the North Sea. Following its closure as a naval base in 1978, the site transitioned to civilian ownership and has developed into the successful marina and leisure destination it is today.
