The yard is to be relocated to the west of the marina and 52 new homes are planned at the east end of the marina next to the existing houses. The news follows hard on the heels of the sale of the Moody brand to Hanse Yachts, which will move Moody boatbuilding out of the country to Greifswald in Germany.

‘With 150 years of marine history involved in the brand, Moody has a large and loyal following and we think that they will be pleased when they see the plans for the development of the brand,’ said Tim Mason, MD of Premier Marinas. ‘It's a very exciting development for Moody that will safeguard its future and ensure a wider offering in the Moody range.’

The company, which is a wholly-owned subsidiary of a property fund of US investment bank Merrill Lynch, owns seven marinas across the south including Port Solent, Gosport and Southsea.