Hope Harbour Marina on the market

A MARINA bought by bankrupt businessman Craig Gore in 2008 for $38 million, has been placed on the market by receivers.

hopeharbour

THE Hope Harbour Marina at Hope Island, bought by bankrupt businessman Craig Gore in 2008 for $38 million, has been placed on the market by receivers.

The move comes a year after financier Morgan Stanley took control of the marina's holding company, IMDM Hope Harbour, an entity held by Mr Gore's company, Ocerog.

The US investment giant became Hope Harbour's mortgagee in December 2011 after buying out the distressed loan book of UK-based Capital Finance. The loan book included debts held against several Gold Coast properties including Southport Central and is understood to have been acquired for as little as 20 cents in the dollar.

Hope Harbour has been the mainland terminal for the ferry to Couran Cove Resort, on South Stradbroke Island.

Its offering comprises 279 marina berths, harbour-master building, refuelling wharf, development land and a factory complex.

Release of the marina properties for sale comes just days after the Australian Securities and Investments Commission won a Federal Court bid to place in liquidation MOGS Pty Ltd, a company linked to Mr Gore's wife, Marina, and associates.

The decision followed an investigation in which ASIC alleged that Mr Gore and others conspired to misuse $4.75 million raised from more than 200 mum-and-dad investors, who were told their money would be invested in US property.

Mr Gore has denied the allegations.

Hope Harbour is being marketed by Colliers International until April 30.