Price Review For 12 Month Mooring Permits
24 February 2009
British Waterways (BW) has completed its annual pricing review for 12 month mooring permits to apply in England and Wales from April 2009. The review fulfils BW's statutory obligation to set market -led prices whilst ongoing analysis of vacancies and prices will ensure that BW is able to respond quickly to any effects that the unprecedented economic downturn may have on the moorings market during 2009/10.
As part of the process, each individual BW mooring site in England and Wales has been reviewed taking into consideration its condition, facilities, occupancy levels, strength of local demand and changes in supply.
Customers on BW leisure moorings will see average prices increase of 6.1% (a 3.8% increase on 2008 prices taking into account the December 08 reduction in VAT). Approximately half of leisure moorers will see an increase of less than 5% (2.7% after VAT reduction).
Residential mooring sites are to increase by 9% or more for about half of all customers (6.7% after VAT reduction) reflecting the high demand for a limited number of residential berths.
Customers at the 133 sites scheduled for increases of more than 7% (4.7% after VAT reduction) will see price increases capped at 7% until the end of June to give greater notice of the full increases applicable from July 2009.
Robin Evans, BW chief executive, comments: "Whilst ensuring that BW prices its moorings at the market rate we are very mindful of the unprecedented economic climate. Over coming weeks and months we will continue to analyse what's happening in the market place, keeping a close eye on occupancy levels and the volume and strength of bids for tendered vacancies. Whilst the moorings sector appears to be holding up well, if necessary, we will be able to quickly respond to reflect changes in local markets.
"This year some of our customers will see relatively large increases in mooring fees and I hope that delaying the full price rises will help with personal budgeting over the next few months. Similarly, in this difficult financial climate it is important that BW mooring customers have longer term certainty over prices. So unless there are specific local changes in circumstances, I do not anticipate increases above inflation in 2010 and 2011.
"Waterways are seeing exceptional demands on limited budgets and all the income from moorings is reinvested in the running and maintenance of the network. At the same time we recognise that boaters alone cannot shoulder the full burden of funding the network and we continue to seek alternative sources of income to cover the costs."
The price list for BW's directly managed sites is published at www.waterscape.com/moorings. A report of the price review, which includes a copy of the pricing guidelines used by BW managers is published at www.britishwaterways.co.uk/mooringprices09.
Ends
For media enquiries please contact:
Jonathan Ludford, British Waterways
T. 020 7985 7275 jonathan.ludford@britishwaterways.co.uk
Notes to editors:
British Waterways cares for 2,200 miles of the nation's canals and rivers. Rich in heritage, abundant in wildlife and teeming with activity, inland waterways are as popular today as they've ever been. Half the population lives within five miles of one of our waterways and an incredible 11 million people use them every year as part of their everyday life - as a short-cut to work, for walking the dog or simply for taking time-out and watching the boats. British Waterways' job is to ensure the waterways attract enough investment to be well maintained and remain appealing to society and the local communities through which they pass.