Bembridge Harbour Trust determined to own harbour

Current owners of Isle of Wight harbour in administration

The appointment of administrators has offered an opportunity for Bembridge Harbour to be bought by the Bembridge Harbour Trust (BHT), with the aim of running the harbour for the community.

This follows news that Bembridge Harbour Improvements Company Ltd and Maritime and Leisure Investments Ltd are both in the hands of RSM Tenon’s recovery division following a winding up petition from HM Revenue & Customs in February.

The two companies own various parts of the harbour including several buildings and 59 hectares of water. They continue to operate as a going concern but will be offered for sale in due course.

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Michael MacInnes, chairman of trustees at the BHT, said: “We view the appointment of the administrators as a marvellous opportunity for the trust to buy the harbour at a fair market price.

“Although it has been on the market for the past 15 months and BHT has made three professionally valued bids, all have been rejected as too low.”

Mr MacInnes said any new owner would face immediate major costs: “For instance, no relevant dredging of pontoon or marina areas has been done for eight years and water levels are very low in places. Work is also required on pontoon maintenance, some needing complete replacement.”

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