The commercial property team at Banner Jones has advised luxury boat builder Oakums Narrowboats on the purchase of a 20-acre site in Ashbourne, Derbyshire.

Occupying an idyllic spot overlooking Carsington Water near Kirk Ireton, about 12 miles north of Derby, the recent move was facilitated by a £881,000 funding package from HSBC.

In addition to the land acquired, the deal also saw the business purchase an extensive range of outbuildings, with the additional space helping to increase the business’s manufacturing capability and allowing it to build seven boats at once, compared to two currently. 

As part of the deal, leading law firm Banner Jones advised Oakums Narrowboats on the purchase of the land with lending for narrowboat storage, as well as issues with agricultural ties and planning use.

An award-winning luxury boat builder, Oakums, was established in 2019. It is well regarded across the industry for its expert craftsmanship and exceptional attention to detail, with its range of narrowboats striking the perfect balance of practicality and luxury.

Earlier this year the company reported that it had reached £1.4m in revenue over a three months period, and that it now anticipates that annual revenue will increase to £6m as a direct result of the expansion.

Ben Couch from Banner Jones’ commercial property team who advised on the deal, added: “We are delighted to have advised the team on the acquisition of their new headquarters. The location may have been unusual for a canal boat builder, but it provides ample space for the equipment needed and is ideally situated to reach customers across the UK.

“Oakums already has an outstanding reputation within the luxury boat building industry, and we wish them every success as they continue to sail ahead with their growth ambitions.”

Contact our experts for support on all aspects of Commercial Property at info@bannerjones.co.uk