Today’s inland waterways have become a major recreational amenity. Fresh investment in the network is fuelling a surge in inland boating popularity that takes in traditional narrowboats as well as wide beam cruisers.

Inland boating growth has highlighted the shortage of berthing provision across the network and the potential for investment in inland marina development as promoted by British Waterways. But just how realistic are such opportunities in the current economic climate?

On the face of it, the prospects still look good. British Waterways’ 2005 Inland Marina Investment Guide identified a need for 10,000 new marina berths within 10 years and, by the close of 2008, 3,105 had already been provided at the 22 new marinas or mooring basins opened by then. Another four marinas were under construction and a further 14 projects had secured planning permission which, combined, would provide an additional 2,045 berths.

The completion in April this year of the Liverpool link, connecting Liverpool docks with the Leeds and Liverpool Canal, can be expected to bring an influx of new visitors in much the same way as the 2002 completion of the Ribble Link near Preston. This connected the previously landlocked Lancaster Canal with the national waterway network to become a popular extension for boaters.

There are proposals too, for new canal construction, such as the Bedford to Milton Keynes link, and restoration projects for derelict waterways such as the Cotswold Canals and the Wey and Arun navigation. Although their completion is dependent upon future funding which, in the current circumstances, remains in question, they nevertheless offer additional scope for new marina development should they go ahead.

A life afloat
The question arises whether the economic downturn will dampen demand for this increase in berth availability. Many new boat owners of recent years were originally ‘empty nesters’, who sold the family home and invested the proceeds in a smaller house or flat and their dream of a life afloat in a narrowboat. With the collapse of the housing market this option is proving much less appealing and has resulted in new boat sales falling dramatically, pushing some manufacturers to the brink of closure. This, in turn, suggests that the rate of take up of new marina berths will slow although there should still be scope for development in the right location. Whereas there has been a concentration in areas such as the Trent and Mersey north of Birmingham and sections of the Shropshire Union Canal in recent years, there are parts of the inland waterway network that have seen little or no new development so far.

Here at Vail Williams we have successfully advised a number of developers over the years, and are always keen to discuss your ideas with you. We offer practical advice on the process, the costs involved and the likely returns available over the short, medium and longer terms.