#Overseas Property Investment Companies in Virginia Beach

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What The Smart Property Investors Would Be

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Oyster Cove Boatworks and Yacht Brokerage Opens New Facility in Gloucester, Virginia

Following nearly two years of planning and construction, Oyster Cove Boatworks and Yacht Brokerage (OCB) opened its expanded storage and showroom facility in Gloucester, Virginia earlier this month.

“We are humbled by the support the boating community has given OCB over the years and couldn’t be more proud to re-invest into our hometown of Gloucester by expanding the services offered, creating new jobs and showcasing just how much potential there is on the Middle Peninsula to do great business,” said OCB owner Chris Leigh.

Located on George Washington Memorial Highway near the Hickory Fork Road intersection in Gloucester, OCB is a full-service boat boutique, offering Intrepid Powerboats, Tidewater, C-Hawk, Cobia and Pathfinder boats, full-service brokerage, and a robust service and parts department with technicians certified on both Mercury and Yamaha outboard engines.

OCB’s expansion included construction of a new, 20,000-square-foot building that houses 24 large storage bays with 14 currently available for lease. Leigh said they opened the new building having already leased many of the units, some with long-term tenants.

The new facilities also include OCB’s new showroom and outboard motor storage.

The original building remains on the property and houses OCB’s parts, service and accounting departments.

Since the building was completed, Leigh said OCB has created at least five new jobs, with more expected to come.

The facility has also attracted new business to Gloucester, he said, including Paint Medic, a high-end auto and boat detailing company formerly based out of Virginia Beach. Paint Medic took out a long-term lease in one of the storage units to house the business.

“They saw the opportunity for growth in the marine industry on the Middle Peninsula and wanted to be a part of that,” Leigh said.

A good portion of the reason the marine industry is growing in the rural coastal Virginia region is because of the elimination of the boat tax by the Gloucester County Board of Supervisors, an effort Leigh helped lead in 2015.

“We live in a region defined by the water, and thanks to the foresight of our elected officials, they saw that eliminating the boat tax would open up recreational mariners to the region and bring economic impact in meaningful ways,” Leigh said.

Construction on the OCB expansion began in June 2018, with work behind the scenes commencing in late 2017. C.A. Barrs completed the site work and Delaware Corporation constructed the building.

“I can’t thank Gloucester County officials enough for helping us through this entire process,” Leigh said. “From helping navigate the permitting regulations required in our coastal region for expansion, to the Gloucester Economic Development Authority providing us grants to support our expansion, we’ve seen the full support of what our local and regional government offers to help us improve the economic health of our region.”

Leigh, born and raised in Gloucester, said he appreciates that any expansion of a business in the county directly impacts the services provided to residents, including job opportunities, tax base and support to community programming.

“It was never a question for us on where to locate and expand our business,” Leigh said. “I’ve seen plenty of big boat dealerships in Florida located on the side of the interstate. You don’t have to be in a marina to be able to bring that level of service and opportunity to mariners and a community.”  

Leigh, a 1998 graduate of Gloucester High School, started working at the dealership, then called Rivercraft Marine, as a kid in 1996 washing boats. He earned his college degree at Christopher Newport University in 2003, then worked at Bluewater Yacht Sales until coming back to Gloucester to rent and ultimately buy the dealership in January 2011.

“As a community, it’s important for us to focus more on reinvesting in our existing businesses, improving them and growing them,” said Steve Barrs, Chairman of the Gloucester Economic Development Authority. “This is a great example of what that support and investment can look like and the Economic Development Authority and the County has been happy to provide support to help OCB grow.”

That growth will have direct impact on the community.

OCB not only supports the recreational and commercial boaters living in the region, Barrs said, explaining that “you often see the watermen from our community repowering their workboats there.” But it also supports the growing tax base of the region by supporting customers out of state.

Each time OCB sells or brokers a boat to a customer in Florida, New York, and even overseas, the local community sees the benefit of that sale.  

“And now, what you are seeing today with this expansion, is a business owner reinvesting capital into a business here to further grow and support our community,” Barrs said.

Leigh plans to continue to support other regional businesses in creative ways in the new building, to include providing gallery wall space for Little England Mercantile, a store located at Gloucester Point, to market and sell their art.