King Point Marina put up for sale to address owner’s ‘unsustainable debt levels’
Sutton Harbour has put King Point Marina and six investment properties up for sale as part of a financial restructuring plan.
The group lost £2.6m on its Harbour Arch Quay development despite all 14 apartments being sold off plan, and it also saw annual interest payments nearly double to £2.0m.
It is now targeting a £10m reduction in its lending, to £11.8m, by next March.
The AIM-listed group has revealed it made an adjusted pre-tax loss of £3.3m in the year to March, compared with a breakeven performance the previous ye... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
