Discovery Bay Marina Club boat owners asked to ship out in three months as Lantau Island site in Hong Kong closes for renovations
All memberships and debentures will expire by end of the year, with no indication of development plans
Boat owners using some 260 marina berths in a popular residential area on Hong Kong’s largest outlying island will have to ship out in three months as renovation works begin at the end of the year.
According to a notice issued on Friday by Discovery Bay Marina Club in the namesake residential neighbourhood on Lantau Island, all memberships and debentures – memberships for sale – will expire on December 31. The associated berthing permits will also be terminated by then.
With the demand for mooring spaces increasing in the city, the costs of debentures have been going up, while holders can only redeem them at face value, usually lower than market rates.
It is unclear how many members or debenture holders there are at the Discovery Bay club, but HKR International (HKRI) – which owns the marina and the entire residential estate – said the club, which opened in 1989, provided 220 piers and 42 dry berths.
There are also members who only sign up to use club facilities.
“Members whose vessels are placed or moored at the [berths] at the marina are requested to make arrangements to remove their vessels and belongings,” the notice read, indicating the deadline as December 31, 2018.
“Any vessels or articles left behind after the said date shall be removed and disposed of at members’ costs.”
Websites selling debentures for the club show prices ranging from HK$130,000 to HK$680,000 (US$87,000), with a monthly subscription fee of HK$1,090.
According to the notice, the marina will be closed for “extensive repair, renovation and maintenance works” from the start of next year.
HKRI has not responded to a request for comment on questions such as how many people will be affected, the face value of the debentures and development plans for the marina.