The company which leases Brighton Marina has been sold as part of a multimillion-pound company takeover.

Wellcome Trust has acquired marina leaseholders Premier Marinas Limited (PML) for an estimated £200 million from BlackRock UK Property Fund.

The takeover will see PML’s eight other marinas including Chichester, Eastbourne and Southsea sold as part of the deal. PML is a sub-tenant of Brighton Marina’s head leaseholders Brunswick Developments.

Andrew Goodall, of Brunswick Developments, said: “We still have the tenant in PML, who have leased from us for more than 15 years, it’s just that it is now owned by Wellcome Trust.

“PML has been great since first coming to us all that time ago. They’ve invested tens of millions into the marina and have stuck to their word regarding developments and their plans.

“I don’t think the sale will change much. I understand the management will all stay the same and there won’t be any material changes. Wellcome Trust is also known for looking after its employees so it’s good news.”BlackRock would not comment on whether it had made a profit on the sale.

But Mr Goodall said: “I would assume it would have been a successful sale for BlackRock, yes. It’s hard to say exactly how well they have done because PML also has the other marinas across the south coast.”

Wellcome Trust is a biomedical research charity and the world's second highest-spending charitable foundation.

Peter Pereira Gray, managing director of the Wellcome Trust's investment division, said: “Taking sole ownership of PML adds a third wholly-owned UK asset backed operating business to the trust’s investment portfolio and is a demonstration of our commitment to the industry and our confidence in the management team and employees.

“We will take a long term approach to the ownership of the business and look forward to the continued success and growth of PML.”

Paul Tebbit, director at BlackRock, added: “PML has generated strong returns for BlackRock over the last decade during which time we have expanded the business significantly.

“We are very pleased to have sold PML to the Wellcome Trust and are confident that the business will continue to thrive under their stewardship.”

Brunswick Developments’ planned £250 million expansion of Brighton Marina, which includes more than 850 flats and almost 2,000sqm of shops and leisure space, will not be affected by the sale.