David MacBrayne cashes in on harbour deal

David MacBrayne Ltd - the parent company of CalMac Ferries - has sold off its share in an expanding harbour operator venture in the south of England.

MacBraynes owned half of Solent Gateway - a joint venture with logistics firm, GBA Holdings, to operate Marchwood Military Port, across the estuary from Southampton.

It is six years into a 35 year lease from the Ministry of Defence to develop and operate the 205 acre site.

The west coast ferry operator has made a hefty profit on the deal it is believed but did not disclose figures though it highlighted a “real value return for the Scottish Government and the public purse.”

In addition to being the base for Royal Fleet Auxiliary's ships and handling military cargoes, Marchwood Port is on the cusp of major commercial growth after recently securing UK Government freeport status which provides tax, customs and financial concessions to proposed logistics hubs and business parks at the site in the future.

Funding plans to develop the harbour will now be progressed by Solent Gateway’s new owner, Associated British Ports (ABP) which bought out David MacBrayne and GBA in a deal finalised today.

David MacBrayne Ltd has today announced it has sold its 50% share in Solent Gateway Ltd to Associated British Ports ("ABP").

Robbie Drummond, CalMac’s chief executive, said the sale of their shares is a “Scottish success story founded on the expertise and professionalism of our staff.”

“We are delighted by this positive outcome,” he added.

Mr Drummond continued: “The decision to invest in this joint venture on the south coast of England is an example of our entrepreneurial skill and vision, which has delivered a real value return for the Scottish Government and the public purse.

“During our time in Solent Gateway, we improved port facilities, attracted new business and provided professional support and services to the Ministry of Defence and our other clients.

“However, the time is right for us to sell the asset and realise the value we have added.

“We will work with our shareholder, the Scottish Ministers, to agree how receipts should be utilised.

Alastair Welch, ABP Southampton Regional Director, said ABP’s involvement secures the investment needed to fully the potential of the Marchwood site and push ahead with development plans which includes creating around 1,000 new jobs for the Solent region.

Ferry company David MacBrayne cashes in on harbour deal

1 February 2023