Port La Napoule : Extension of the Concession Confirmed | MooringSpot

Port La Napoule : Extension of the Concession Confirmed

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It is now official and confirmed ! The concession of Port La Napoule has now been extended by 5 years, meaning the concession of the marina will now end on 31st December 2029.
 
The Yacht Club International de Mandelieu-La-Napoule (or YCIMN), the company that has the marina’s concession, had been working for 4 years, with the support of its shareholders and berth lease-holders, on a project to modify one of the quays located to the North of the entrance, in order to create 5 moorings for sailing catamarans of 20 metres by 10 metres each (as illustrated). These berths will not be “for sale” with multi-annual leases and will be only available to rent. They will be part of the public berths in the harbour’s layout.
 
Rendering of the new quay of Port La Napoule, Mandelieu, South of France

It must be noted that Port of La Napoule is not going to be enlarged. The works which will start on 1st October will consist in a modification of the quay, currently used by a sea-excursion vessel for tourists and visitors, without requiring an extension of the marina outside the perimeter initially defined in the terms of the concession. It is therefore not an extension of the marina, but a modification of the layout, or in other terms, an optimisation of the harbour layout. The works should be completed in Spring and the inauguration of the new quay could take place at the start of the season, during the next Second-Hand Boat Show of La Napoule (from 13th to 17th April 2017).
 
Such a project is going to require an investment of 2.9 million Euros, which will be entirely financed by the concession-holding company, its shareholders and its berth lease-holders who will see their annual service charges increase by a mere 10%. The town of Mandelieu-La-Napoule will not have to spend a single cent for the enhancement of the marina which will ultimately return under its full control at the end of the concession. The 5-year extension of the concession is what the mayor (the conceding authority, i.e. the marina’s owner) has offered berth lease-holders in return of this substantial investment. It appears all stakeholders will benefit from this alteration of the port-layout.
 
The preparation of the project from an administrative perspective has been complex and has required a lot of time. The deliberation of the city council validating the 8th amendment of the terms of the concession regarding the layout modification took place on 23rd November 2015, and the 5-year extension has required considerable discussions between the Prefect’s services, in charge of assessing the legality of the project, and the townhall.
Finally, the Prefect having not made any observations, on 1st August 2016, the Mayor of Mandelieu-La-Napoule, Mr. Henri Leroy, was able to formally ask the marina concession-holder to proceed with the long awaited construction.
 
This news puts an end to a period of uncertainty regarding the sale and purchase of shares of the YCIMN plc, or in other terms, the “sale of berths”. Though the extension of the concession was more than likely to happen for many of the port’s users, considering the benefit the modified quay would be for the town of Mandelieu La Napoule, for the marina and the qualities of the project, it could still not be guaranteed. One of the key aspects when assessing the value of a berth lease is of course its duration. There is a huge difference between having a berth for 9 years and having for 14. From now on, the situation is crystal clear.
 
The approval of this project will be one of the last accomplishments of General Director, Mr. Eric Contencin, at the head of Port La Napoule. After decades at the service of the harbour and its users, Mr. Contencin will now be retiring, but will remain the company’s General Director. He will be replaced by Mrs. Hélène Kotchounian who until now has been the marina’s Administrative Director for 23 years. The port will therefore continue to be managed with the same approach which boat owners in Mandelieu-La-Napoule have enjoyed.
 
 
>> Access the Berths in Port La Napoule
 
>> Access the Berths in Mandelieu
 
 
 
MooringSpot, September 2016.
 
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