WIGHTLINK could be sold for an estimated £300 million, according to a report in The Times today (Sunday).

Last year, Wightlink made a profit of £17.7 million.

The cross-Solent ferry company was sold to current owners, Basalt Infrastructure Partners, in 2015 by Australian bank Macquarie for about £230 million.

There is currently a booming demand for infrastructure assets as ultra-low interest rates and weak gilt yields have seen values increase dramatically.

Basalt is trying to cash in on this demand, according to The Times.

Rival Red Funnel was sold last year for a rumoured £320 million to investors including West Midlands Pension Fund.

Local authority pension funds have been buying up infrastructure assets recently, so Wightlink could be attractive.

Macquarie Capital is advising Basalt on the strategic review.