Five Questions With: David Preston

Trinity Marine LLC, a Providence company, last month announced that it had purchased Quality Yacht Services Yard and an adjacent parcel in Tiverton. Director of Sales David Preston spoke with Providence Business News about the property and what the $5 million the company plans to invest will go toward.

PBN: First the details: How big is the site? When did you buy it? How much did you pay for it? And what’s there now?
PRESTON:
The site is comprised of three acres with deep-water access. We bought it May 15 for $8.6 million. The site currently has typical yard storage and maintenance buildings on it as well as a good amount of area for outside boat storage.

PBN: What about the site makes it a solid investment?
PRESTON:
The fact that it has deep-water access and is already permitted for new docks that can accommodate yachts up to 300 feet. There are very few options for boats that large in New England. It is also a big benefit to be just an hour from Boston and just two minutes off Route 24. In addition, the location provides boaters with easy access to Narragansett Bay, The Sakonnet River, Newport Harbor and Martha’s Vineyard and Nantucket.

PBN: You have said you are planning to spend another $5 million in the site. What are you planning to change and add?
PRESTON:
We are cleaning up the site in general and preparing bulkheads for the arrival of the docks from Finland. We will be improving the yacht service buildings, creating inside boat storage and adding the latest in environmentally friendly fuel and pump-out facilities.

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PBN: The docks that you plan to install aren’t built like conventional docks. What’s different?
PRESTON:
They do not require pilings. They are anchored to the seabed with a product called Seaflex, which is essentially large rubber tension cords. The larger end docks are concrete and are four feet in depth. So they literally act like breakwaters in terms of attenuating waves.

PBN: Do you plan to break ground right away? And do you have a completion date set yet?
PRESTON:
We are already working on improving the grounds. We will start on the bulkheads next month. The floats should arrive from Finland in late July and we will have them in place and operational in the early fall.

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