SINGAPORE (Oct 19): Marina developer, operator and consultant SUTL Enterprise says it will provide management and consultancy services to a soon-to-open marina in Brooklyn Bridge Park New York, to be named ONE15 Brooklyn Marina.

The marina’s majority owner is Singapore Marina Development Corp (SMDC), a unit of SUTL Global, which is also the holding company of SUTL Enterprise.

SMDC together with Brooklyn Pier 5 #2, have formed joint venture company OneEdge Marina Finance to develop the marina and appointed the group to provide marina consultancy and management services.

SUTL Enterprise, which owns the ONE15 brand, will receive a fee of 5% of the annual gross revenues of ONE15 Brooklyn Marina under a five-year service agreement.

The group has also entered into an intellectual property license agreement with SMDC, granting the latter the right to reproduce, use and develop materials using the ONE15 trademark for a period of 10 years.

This is SUTL Enterprise’s first marina consulting and management contract outside Singapore and it marks the debut of the homegrown ONE15 brand in the international arena.

Construction of the marina has started and is scheduled to open officially in the spring of 2016. It will accommodate boats ranging from 16 feet to 250 feet in size.

It is currently home to a sailing school and club, which will give both beginner and seasoned sailors access to a large fleet of sailboats. There are also plans to develop a members only harbour club.

SUTL Enterprise shares closed 5.3% higher at 4 cents.