AIM-listed Camper & Nicholsons Marina Investments has bought a marina in the West Indies being promoted by leisure entrepreneur Peter de Savary.

The company has exchanged contracts to buy the marina at Port Louis in St George's, the capital of Grenada, for $24m (£12m) from Port Louis Land and Port Louis Trading.

As part of the purchase it is also buying 250,000 sq ft of land for mixed-use development for which detailed planning consent is in place.

Comprising 1.1m sq ft of water area, held on a 99 year lease, the marina will accommodate more than 300 yachts, including 60 superyachts of between 30m and 100m in length.

The marina has already opened with 50 fully serviced berths, including 14 superyacht berths.

'Port Louis is Grenada's answer to St Barts, St Tropez, the Costa Smeralda, and Portofino,’ said de Savary, who is chairman of the Port Louis development.

Port Louis is Camper & Nicholsons’ third purchase since listing on AIM in January. It also owns

Cesme Marina in Turkey and Grand Harbour Marina in Malta.