Wet sales will buoy up new owners

By Joe Lutrario joe.lutrario@william-reed.co.uk

- Last updated on GMT

Related tags Barrow-in-furness Graham allman

A 3,600-tonne licensed ferry housing a restaurant and entertainment centre has come onto the market with GA-Select. The Princess Selandia is...

A 3,600-tonne licensed ferry housing a restaurant and entertainment centre has come onto the market with GA-Select.

The Princess Selandia is currently moored in the port of Barrow-in-Furness, Cumbria, but could be docked anywhere in the world, subject to permission.

Graham Allman, managing director of the national property firm, said that sales on the vessel were "buoyant" with an emphasis on "wet sales". Turnover is currently running at £1.7m per annum, off a sales split of 65% wet to 14% dry and 21% other income. Gross profits showed £1.055m last year.

The ship complex boasts a 2,400-capacity nightclub and entertainment centre with outside smoking deck, restaurant deck with 690 covers, separate restaurant for 100 covers, banqueting suite for 200 guests, private dining room plus meeting rooms, a top deck for 900 and two en-suite guest bedrooms."

Simon Kershaw, of GA-Select, said: "The ship was purchased by our clients and towed to her present location after which she had undergone a total refit for leisure use along with extensive tests for licensing and fire permissions, not to mention structural investigation by the port authority."

His firm is seeking serious offers for the business as a going concern, but it would also consider a lease with a purchase option to a prospective buyer with strong suitability.

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