Island Harbour Marina in administration
New owners are being sought for the Island Harbour Marina on the Isle of Wight after the operator, Uavend Investments LLP went into administration.
Insolvency practitioner Stephen Lancaster, from Lucas Ross Ltd, was appointed administrator on 16 September 2022. The move left around 25 boat owners stranded after they became trapped behind the marina’s lock gates due to staffing disruption. This lasted 24 hours before the lock gates were opened and boats could leave.
Steve Webster was one of those trapped. He said he was disappointed that there were no arrangements in place for boats wanting to leave the marina and was relieved to be under way the next day. ‘We took our chance and exited as we’re not sure what future arrangements may be,’ he said.
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, 50-tonne hoist and slip crane, showers and laundry room. It can take boats with a maximum LOA of 65ft, beam of 24ft and draught of 2.5m.