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Italian government sells off five luxury yacht marinas

Italian government sells off five luxury yacht marinas

The iconic Marina Grande on Capri is one of five luxury yacht marinas being offered for sale by the Italian government as the country struggles to recover from the recession.

The other lots being offered for sale are Marina di Portisco in Sardinia, Porto delle Grazie in Roccella Jonica, Marina d'Arechi in Salerno and an of area of Porto Lido in Trieste.

The marinas are estimated to compromise of more than 2,500 berths and be worth approximately £35 million. Different percentage shares of the marinas are being offered to the highest bidder though a subsidiary of the Ministry of Economy called Invitalia.

According to local press two government officials are arguing against the sales. The deadline for offers was meant to be mid-July but there have now been calls for government to suspend the sales altogether.

All of the marinas are iconic destinations for private superyachts and luxury yacht charters in Italy. Marina Grande on the Isle of Capri is one of the most sought-after marinas in the Mediterranean and celebrities are regularly spotted on superyachts in the marina. Actress Eva Longoria and retired American professional basketball player Earvin "Magic" Johnson have both visited the island on superyachts this summer.

Picture courtest of Pierangelo Roberto/Shutterstock.com

Marina di Portisco is considered to be a gateway for private cruises and luxury yacht charters in Sardinia and can accommodate yachts up to 100 metres. While Marina d'Arechi is one of the largest marinas in the Mediterranean and can also accommodate yachts up to 100 metres.

The marinas are not the only Italian assets being offered for investment opportunities. In June the government announced plans to sell leases to private investors for a selection of historic properties — including palaces, monasteries and lighthouses. Greece has also found itself in a similar predicament and there are a number of huge assets being offered for sale to help bailout the country.

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