An estate agent specialising in luxury marina homes has suddenly closed his firm and disappeared.

The offices of Marina Properties at Brighton Marina have been repossessed by the landlords and the firm has ceased trading.

But customers and fellow estate agents do not know what has happened to director Raymond Coe.

Rental agents Leaders is now dealing with the company's landlords and tenants.

Marina Properties had a portfolio of more than 100 homes, costing up to almost £500,000.

Leaders, in Western Road, Brighton, will send letters to all customers this weekend advising them to get in touch, after being given access to the clients' database.

Leaders managing director Alan Thurlow said: "I understand the former owner Raymond Coe is no longer able to attend to his business but I don't know what the reason is."

Joint managing director Paul Weller added: "This is a dreadful situation for all the landlords and tenants involved and we are doing our best to help them.

"We hope the public will take note of this and only use a letting agent that is a member of the Association of Residential Letting Agents because, unfortunately, this story is not unique."

A spokeswoman for Drayfield, the property's landlords, said: "Drayfield has taken back the premises as a result of the tenants' inability to comply with their obligations under the terms of their lease."

Bailiffs took possession of the offices last Tuesday.

Monday February 16, 2004