Winnipesaukee Forum - Ambrose Cove- Melvin Village

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VitaBene

10-03-2017 09:52 AM

Ambrose Cove- Melvin Village

It is my understanding that Melvin Village Marine has entered into an agreement to purchase Ambrose Cove Marina. The deal was contingent on the new owners performing the fall pullouts and winterizations.

If it the sale goes through, it sounds like a win/ win for Melvin and those of us that keep our boats there!

joey2665

10-03-2017 10:11 AM

More Marina Consolidation

Is this really a good thing or will less competition on the lake cause an increase in prices for all thing marina related?

I have already seen a 15% increase for my slip rental in 2018.

LIforrelaxin

10-03-2017 10:21 AM

Quote:

Originally Posted by joey2665 (Post 286322)

Is this really a good thing or will less competition on the lake cause an increase in prices for all thing marina related?

I have already seen a 15% increase for my slip rental in 2018.

I don't think consolidation is the cause for you rental increase.... People are back to boating.. Space is limited, it is basic business....

VitaBene

10-03-2017 10:37 AM

Quote:

Originally Posted by joey2665 (Post 286322)

Is this really a good thing or will less competition on the lake cause an increase in prices for all thing marina related?

I have already seen a 15% increase for my slip rental in 2018.

I don't know from a price perspective what the effect will be, but I think there will be needed improvements made to the facility. I hope they don't go up too much. I paid early last year to lock in my old rate ($3666 for a 26.5 foot 8.5' beam boat) of $138/ foot or so.

I think the strong economy is the biggest factor- not many slips to be had out there!

Sue Doe-Nym

10-03-2017 10:49 AM

Very interesting and should be positive for everyone since this move would mean the continued use as a marina. Melvin Village has horrible access problem when lake is low and has limited room for expansion on the lake side of 109. Ambrose Cove has been hurting since the untimely death of Jeff which would explain the winterization contingency.

Greene's Basin Girl

10-03-2017 10:53 AM

I am glad that MVM is buying Ambrose Cove.

thinkxingu

10-03-2017 11:09 AM

I think this is great as well--I very much hoped it would not go private. I do agree, however, that consolidation of marinas is not always a good thing--in this case, I don't know that Ambrose Cove was enough of a competitor to affect pricing.

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joey2665

10-03-2017 11:38 AM

Quote:

Originally Posted by LIforrelaxin (Post 286324)

I don't think consolidation is the cause for you rental increase.... People are back to boating.. Space is limited, it is basic business....

My particular increase is not caused by consolidation as I rent at a club and you are correct it is all about demand. I am speaking specifically about winter storage, repairs parts ect.

C-Bass

10-03-2017 06:44 PM

This should be a good deal. I have my boat down there at Ambrose but, I bought it from Melvin. So I have it serviced there and stored at Melvin every year. To put my boat in at Melvin would be around $2800 for a slip, I paid $3200 this year so maybe the price will go down. Its great spot at Ambrose, deep water docking, much quieter than Melvin. Easy in and out.

GeoBarb11

10-10-2017 06:14 PM

Melvin has a great valet rack service. Perhaps they will also offer this at Ambrose.

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jpjm	10-21-2017 09:25 AM

valet rack service

the BEST on the lake as well as the service dept.

GeoBarb11

10-22-2017 11:22 AM

Ambrose Cove- Melvin Village

Boy, I hated to give up boating out of there! We sold our place up in Maine at the end of the season and are now full time residents of Ft Myers.

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TriDad

10-25-2017 08:33 AM

Quote:

Originally Posted by joey2665 (Post 286331)

My particular increase is not caused by consolidation as I rent at a club and you are correct it is all about demand. I am speaking specifically about winter storage, repairs parts ect.

Because the demand in boating is up significantly, the increase is going to hit us in the on-water slip rentals. Marinas will build off lake capacity for winter storage just as Fay's has done this year. Supply can keep up with demand.

Marina's hold all of the leverage for on-water slips. Not many more can be built (if any). These prices have the potential to go up quickly.

Owning a slip could make more sense moving forward than it has in the past.

joey2665

10-25-2017 11:06 AM

Quote:

Originally Posted by TriDad (Post 286989)

You could be correct, for years I paid 2500.00 per year and it did not make sense to purchase a slip but at the current rate of 4250.00 purchasing looks more appealing.

ishoot308

10-25-2017 11:21 AM

Quote:

Originally Posted by joey2665 (Post 286993)

You could be correct, for years I paid 2500.00 per year and it did not make sense to purchase a slip but at the current rate of 4250.00 purchasing looks more appealing.

Yeah, but the purchase price of slips has gone up significantly as well not to mention taxes as well!

Dan

joey2665

10-25-2017 12:11 PM

Quote:

Originally Posted by ishoot308 (Post 286994)

Yeah, but the purchase price of slips has gone up significantly as well not to mention taxes as well!

Dan

Dan what do the taxes usually run on a slip, in Laconia if you know?

ishoot308

10-25-2017 01:08 PM

Quote:

Originally Posted by joey2665 (Post 286997)

Dan what do the taxes usually run on a slip, in Laconia if you know?

I don't have that info handy but I believe Gilford's tax rate is $18.00 per. I remember a few years back when we were looking to purchase a slip (they were cheaper then!) between the condo / yacht club / marina fees and the taxes it cost almost exactly the same as renting and that is if you pay cash. If your taking a loan out on the slip you must now add in interest paid.

Now I understand if purchased you have something that is owned physically that you could eventually sell maybe at a profit but I just couldn't justify the numbers at that time. To me we were better off renting and using the cash we would of paid towards the slip and invest it wisely to get some kind of return on it.

Obviously buying it at the right price at the right time in the right location makes all the difference. Some here have done just that and I am sure they will chime in.

Good luck!

Dan

TriDad

10-25-2017 01:13 PM

Quote:

Originally Posted by ishoot308 (Post 287003)

I don't have that info handy but I believe Gilford's tax rate is $18.00 per. I remember a few years back when we were looking to purchase a slip (they were cheaper then!) between the condo / yacht club / marina fees and the taxes it cost almost exactly the same as renting and that is if you pay cash. If your taking a loan out on the slip you must now add in interest paid.

Now I understand if purchased you have something that is owned physically that you could eventually sell maybe at a profit eventually but I just couldn't justify the numbers at that time. To me we were better off renting and using the cash we would of paid towards the slip and invest it wisely to get some kind of return on it.

Obviously buying it at the right price at the right time in the right location makes all the difference. Some here have done just that and I am sure they will chime in.

Good luck!

Dan

It is based on the municipal tax rate and the valuation of the slip(condo).

You can look at Gilford tax maps here. If you search for 73 Weirs Road for example, you can see the valuations of the slips at MVYC and historical sale prices.

http://gilford.univers-clt.com/index.php?reset=true

thinkxingu

10-25-2017 01:27 PM

Let's not forget that the reason the prices were cheaper in years past is because of the recession. It'll happen again--maybe sooner than later--and I'm sure slips will be one of the first things people unload.

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thinkxingu

01-10-2018 05:59 PM

Any updates on this sale?

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C-Bass

01-15-2018 07:36 AM

I believe its a done deal. The boat rack that had all the trees growing through it has been cleared out. I haven't got my slip renewal but, got a letter from Melvin saying it would go out sometime after the first of the year. They told me a month ago they had a lot of cleanup to do down there but, everyone seems to be excited about it. They now have all the land they want to build storage/mtx facilities.

Greene's Basin Girl

01-16-2018 01:21 AM

The old owners have moved into a house down the road from our place.

VitaBene

01-18-2018 02:29 PM

We received a letter from MVM/ Ambrose Cove Marina regarding next year. Our rates will not change, 50% due by mid-February.

thinkxingu

05-12-2018 02:21 PM

Shout out to MVM for having Boatie Two ready for today, even though they never received my launch slip!

I've got nothing but the highest regard for the business and am overjoyed they bought Ambrose Cove Marina.

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Greene's Basin Girl

05-14-2018 02:16 PM

I heard that the valet service at Ambrose Cove Marina will start at $1900 a season. The price will then go up, depending on the size of the boat.

VitaBene

05-15-2018 07:16 AM

Matt and his team have already made some great improvements! Looking forward to summah!

thinkxingu

06-29-2018 08:55 PM

Stopped by Ambrose Cove for gas today, and the place looks great! New gas dock pylons, nice signage, new paint... Melvin Village has done a fine job, and as best I've heard, they've kept their prices and commitments. MVM is a class act business!

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