DRINK has never been in short supply at Skandia Life Cowes Week but, happily, this year there are even more places where it is served, with the opening of new facilities at Shepard's Wharf.

The boatyard, on the west bank of the River Medina, was bought earlier this year by the Cowes Harbour Commission and already plans are under way to turn it into one of the top spots for visiting yachtsmen.

Six weeks before the regatta started, two former engineers from GKN Aerospace who last year set up events specialists Oddball Promotions Company were called in to turn the boatyard into an entertainment complex for 800 people, complete with nightclub, cocktail bar and restaurant.

Rob Hunter and Mark Friend delved deep into their creative reserves then invested £40,000 in making changes to meet the stringent health and safety regulations.

What they produced was an attractive waterfront facility with a Caribbean cocktail bar overlooking the berths and a series of marquees housing The Yard bar and caf and a stage for local bands who perform throughout the afternoon.

Inside the boatshed there is a dining area, which in the evening is transformed into Submerge, a nightclub for 300 with fluorescent fishes in the rafters that has proved popular with revellers who want to pay only £5 for entry.

"We thought it would be successful and it has been just as we thought," said Rob.

"It is all part of the plan to expand the Cowes waterfront so we can compete more with the likes of Gunwharf Quays in Portsmouth and this is just a start.

"There are plans here to build on, and outwards to create more berths but it will take another three or four years," he said.

"There are around 18,000 people who come into Cowes every day during the regatta and there is room for only 5,000 of them at the Yacht Haven so there is plenty of opportunity for us to expand this business.

"If our nightclub is anything to go - it has been packed and rip-roaring every night - there is a lot of interest."

The yard was bought with Cowes Harbour Commission funds together with a £150,000 contribution from Skandia Life and a 15-year bank loan.