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Island Harbour Marina in administration: new owners sought
Administrators are looking for new owners for the Island Harbour Marina on the Isle of Wight after the operator, Uavend Investments LLP went into administration
It has been confirmed that Uavend Investments LLP, which owns and operates the Island Harbour Marina on the Isle of Wight, has entered administration.
Insolvency practitioner Stephen Lancaster from Lucas Ross Ltd was appointed administrator on the 16 September 2022.
The move left around 25 boats owners stranded after they become trapped behind the marina’s lock gates due to staffing disruption. This lasted around 24 hours before the lock gates were opened and boats could leave, subject to the tide.
Steve Webster is a berth holder. He said he was disappointed that there were no arrangements in place for boats wanting to leave the marina last Thursday and was relieved to be underway the following day.
‘We took our chance and exited as we’re not sure what future arrangements may be. We are currently in Southampton for the boat show until Wednesday, then hoping that Island Harbour has some organisation,’ he said.
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A spokesperson for Lucas Ross said it was assessing all matters connected to the marina and would be working as quickly as possible to find solutions and to minimise disruption to affected stakeholders.
The firm added that it is actively looking to sell the marina to new owners and has already had ‘significant interest’.
Anyone wishing to register their interest should contact Lucas Ross via help@lucasross.co.uk.
Other businesses on the marina complex, including the Breeze Restaurant, are independently owned and are not affected.
Uavend Investments LLP, which owns and operates the Island Harbour Marina, is owned by Eamon Mark O’Connor and Kevin George Webb, and was incorporated in October 2012.
The marina, which is situated on the River Medina, offers 222 berths for annual moorings and visiting yachts. There is also a chandlery, boat builders with repair workshop, 50 ton hoist and slip crane, showers and laundry room.
It can take boats with a maximum length of 65ft, beam of 24ft and draught of 2.5m.
During the summer, the marina charges £410 per metre for boats with annual moorings.
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The post Island Harbour Marina in administration: new owners sought appeared first on Yachting Monthly.