Mon, 04 Aug 2014 | ADMINISTRATION
The owner of Noss Marina, located in Kingswear, Dartmouth, has been placed into administration.
The move has thrown plans for a £160 million redevelopment of the site into uncertainty. David Whitehouse and Sarah Bell of Duff and Phelps were appointed as the joint administrators of Noss Marina Ltd last week.
The independent marina sits on the River Dart in about 37 acres. Its 11 staff have been kept on with no redundancies made.
Outline approval for the regeneration scheme was agreed by South Hams District Council back in 2010 with an estimated cost of £175 million at the time. The ambitious project did not get started, due to problems with funding it in the difficult financial climate. New, scaled back plans with a £15 million price reduction were drawn up and made available to the public last year.
Joint administrator Sarah Bell said: “We can confirm we are conducting a full financial and operational review of the companies and that while this is undertaken Noss Marina is still open for business and trading as normal.”
Anyone interested in the marina are invited to contact the administrators. Jonathan Hawkins, county councillor for Dartmouth and Kingswear told the Herald Express he hopes a buyer can be found to undertake the project.
He added: “It’s a prime position in a beautiful site and it needs redevelopment badly for the local economy.”
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