The assets of Lyttelton Marina Ltd (in receivership) are being sold in a bid to find a new developer for the project.
The receiver for the company is advertising the assets in an attempt to recover monies owing to the Banks Peninsula District Council and to get the development running again.
Lyttelton Marina Ltd was formed to construct, own and manage a new marina in Lyttelton Harbour. There was to be a floating breakwater, floating marina, fixed berth marina and an on-shore retail and support services complex.
On October 12, 2000,a severe storm damaged parts of the marina. Lyttelton Marina Ltd was placed in receivership in November 2000.
An unconditional contract had been signed with developers, Thornton Estates Limited to take over the project. The receiver Stephen Tubbs of BDO Spicers has been in negotiation with the solicitors for Thornton Estates Ltd regarding the future developments of the Marina.
"It is now an appropriate time to sell the assets of the company and in effect find a new developer for the new Marina," said Mr Tubbs.
"The Christchurch City Council has given a clear commitment to work with me and the Banks Peninsula District Council to contribute to the public facilities including the development of a public boat ramp alongside the Marina."
- CHRISTCHURCH STAR
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