Fri, 15 Apr 2011 | ADMINISTRATION
Administrators are looking for a buyer for the Bembridge Harbour Improvement Company, the operators of the popular Isle of Wight harbour, after the company fell into administration this week.
RMS Tenon were appointed to handle the administration process, and a spokesman said they will continue to run the business as a going concern, as they are confident that a buyer for the private harbour will be found swiftly.
The harbour offers an attractive prospect for tourism companies looking to expand into the wealthy realm of the yachting set. The harbour is in an unspoilt conservation area with space for up to 600 boats, sitting on the far eastern end of the Isle of Wight, with immediate access to the leisure sailing waters of The Solent as well as the international sailing superhighway that is the English Channel. The Improvement Company has an annual turnover of £500,000.
Another company involved in the business surrounding the leisure port - Maritime and Leisure Investments Ltd, which owns some of the quayside buildings - has also been placed into administration in the hands of RMS Tenon.
The port on the popular south coast sailing island had been put up for sale at the beginning of 2009, with an asking price of £3 million, although no buyer came forward.
Maritime and Leisure Investments Ltd, which owns some of the buildings in the harbour has also been placed in the hands of RSM Tenon. It is thought the administrators will continue to run the harbour as a going concern.
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