The co-chairman of West Ham United is set to sell his stake in Kent’s largest reservoir weeks after his company’s rent demands forced a sailing club into administration.

David Sullivan has washed his hands of Bewl Water two months after Bewl Valley Sailing Club fell into liquidation blaming an “untenable” bill for £160,000 a year to run its premises.

The reservoir near Lamberhurst has been sold by Kent Attractions Limited, of which Mr Sullivan is a shareholder, to the leisure division of Markerstudy Group, based in Bessels Green, Sevenoaks.

Bewl Valley Sailing Club, which had been running for 48 years, revealed in June it was technically insolvent.

Vice commodore Trevor Spink told members the club had been served with a demand for three months rent, instead of the usual monthly agreement.

He said an appeal for a rent-free period had been rejected by its landlord Bewl Water Boating Limited, owned by Kent Attractions Limited.

Its rent bill was more than double the £75,000 a year it paid before Southern Water sold off its leisure rights in 2008.

Mr Sullivan said: “The sailing club was badly managed and that’s why it went into administration.

"We now have our own sailing club and hundreds of members of the old club have already joined our club, with the membership price staying the same."

Refering to the sale, which had contracts exchanged on September 11 and is due for completion in January, Mr Sullivan added: “However, as West Ham United’s progress continues it is taking up more and more of my time and so I will be looking to dispose of Bewl Water.

"At this time that has not happened, but I hope it might be within the next three to four months.”

Bewl Water Country Park’s latest owner Markerstudy said it was keen to work with former members of the club to “make sure it survives and prospers”.

Markerstudy Leisure managing director Louise Clark said: “We will be developing our plans over the coming months and given the substantial investment that will put in place, Markerstudy Group will be working closely with visitors, clubs, residents and the borough council to ensure Bewl Water prospers and continues to play a key role in boosting the west Kent economy.

“Bewl Water is a hugely exciting project, and complements our existing portfolio of leisure activities in west Kent.

“We are keen to maximise the potential of the beautiful 1,000 acre site, and ensure it maintains its position as one of the most idyllic and versatile ‘go to’ locations.”

Markerstudy Leisure also owns Salomons Estate, One Warwick Park Hotel (formerly The Brew House Hotel), Next Dimension Gymnastics Academy, So magazines in Tunbridge Wells, Times of Tunbridge Wells and Zenith Aviation.