This update to Bembridge Harbour Trust members covers three main issues
1 Ministry of Transport to investigate financial issues.
2 Harbour publicly advertised for sale, but with no price.
3 Contractors who built harbour offices not fully paid, contributing to their liquidation.
These issues are explained further :
1 Ministry of Transport will investigate financial issues
The Trust recently had a very open and constructive meeting with a senior civil servant with responsibility for ports governance. He was sufficiently concerned to confirm that the Ministry will be looking into the matters we raised as a matter of some urgency.
This is a huge step forward in our efforts to see fairness for the harbour and the return of up to £2m to the Statutory Harbour Authority (SHA) to be deployed in harbour improvements and wants of repair.
This is the value of the funds and assets we understand to have been removed from the SHA, artificially reducing its profits that are protected by the local Harbour Act.
2 Harbour publicly advertised for sale, but with no price
A web search for ‘Bembridge Harbour for sale’ will now bring up multiple hits. We believe this very public marketing is quite recent.
The directors first announced the harbour was for sale some 19 months ago, in September 2023. We assume that efforts to sell discreetly have been unsuccessful.
There are still no terms offered publicly. The description is odd, describing various separate companies and freehold and leasehold interests as if one “well invested” freehold. This is of concern as sale of the harbour as a freehold property (rather than a company) would require a Harbour Revision Order.
3 Contractors who built harbour offices not fully paid, contributing to their liquidation
The sales details include reference to the new office and harbour facilities. We understand that these have not been fully paid for, with approaching £400,000 outstanding. Very sadly this non payment has contributed to the liquidation of a respected local contracting company.
It is very difficult to understand why payment is delayed when the harbour directors publicly praise the high standard of the new facilities.
Funding
The work of the Trust remains as important as ever, as we finally make progress on financial redress. We thank you for your support to date, and ask for your continued financial support to keep going at this crucial time, in particular with professional advice to engage with the Department of Transport as required.
The Trustees,
Jonathan Bacon, William Bland , Jeremy Gully (chair), Phil Jordan, Norman Marshall, Sara Smith, as Trustees