Administrators are looking for new owners for the marina at Island Harbor 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 Harbor Marina on the Isle of Wight, has entered administration.
Insolvency practitioner Stephen Lancaster of Lucas Ross Ltd was appointed as administrator on September 16, 2022.
The move left around 25 boat owners stranded after they were stuck behind marina lock gates due to a staff disruption. It took about 24 hours before the lock gates were opened and boats could leave, subject to the tide.
Steve Webster holds a berth. He said he was disappointed there were no arrangements in place for boats wanting to leave the marina last Thursday and was relieved to be on their way the following day.
“We took a chance and walked out as we don’t know what the future arrangements might be. We are currently in Southampton for the boat show until Wednesday, hoping Island Harbor has some organisation,” he said.
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A Lucas Ross spokesperson said it was assessing all marina-related issues and would work as quickly as possible to find solutions and minimize disruption to affected stakeholders.
The company added that it was actively looking to sell the marina to new owners and already had “significant interest”.
Anyone wishing to register their interest should contact Lucas Ross via [email protected].
Other businesses in the marina complex, including Breeze Restaurant, are independently owned and unaffected.
Uavend Investments LLP, which owns and operates Island Harbor Marina, is owned by Eamon Mark O’Connor and Kevin George Webb, and was incorporated in October 2012.
The marina, located on the Medina River, offers 222 berths for annual moorings and passing yachts. There is also a hardware store, boat builders with repair shop, 50 ton hoist and slip crane, showers and laundry room.
It can accommodate boats with a maximum length of 65 feet, a width of 24 feet and a draft of 2.5 m.
During the summer the marina charges £410 per meter for boats with annual moorings.
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