Scotland business

Buyers sought for Oban Marina

Oban Marina
Image caption The marina is situated on the Isle of Kerrera

Buyers are being sought for Oban Marina, following the collapse of its sole shareholder.

Administrators BDO were called in earlier this month after owners Shawhead Developments encountered trading difficulties.

The marina is now being marketed by chartered surveyors Graham and Sibbald as a fully operational facility.

The marina, which employs seven people, is situated on the Isle of Kerrera and has 115 floating pontoon berths.

BDO said Oban Marina Ltd and Shawhead Developments operated separately but there were corporate cross-guarantees in place across both companies for bank lending, which resulted in the insolvency of both companies.

James Stephen, from BDO, said: "Unfortunately the economic climate and difficult trading conditions have significantly affected the business and led to it falling into administration.

"However, we are hopeful of securing a sale and the company will continue to trade whilst this is explored."

Bruce Murdoch, from Graham and Sibbald, said: "The business benefits from a high level of occupancy and year-round revenue.

"We are already encouraged by the level of initial interest being expressed which reflects the real potential of Oban Marina to continue to grow and serve the yachting community on the west coast of Scotland".

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