FOR Allen Grundy, the gut-wrenching feeling when he heard his former tall ship Whitsunday Magic had sunk is still very raw.

And he is reminded of the heartbreak each time he looks out of his bedroom window in Cannonvale to see the wreck he on-sold now lying stranded off Cannonvale Beach.

But he may not have to be reminded of the memory for much longer, with the ship expected to be removed by Maritime Safety Queensland in the near future.

In 2011, the ship - then a luxury vessel owned by Mr Grundy and his business Australian Tall Ship Cruises - sank for unknown reasons at Shute Harbour.

The ship was then considered a write-off and bought by its existing owner that same year.

While anchored off Cannonvale following the sale, strong northerly winds pushed the ship to where it rests today.

MSQ general manager Patrick Quirk said a process was under way to remove the wreck but with court action now being taken, it wasn't known how long it would take.

"The owner hasn't always been co-operative and we've reached the stage now where our patience is worn,” he said.

"There are various actions the owner can take (in court) which may slow the process but hopefully we get an agreeable outcome.”

Mr Quirk said he was "pretty sure” there were no "environmental nasties” on board but encouraged people not to board the boat due to structural weaknesses.

"It could pose a danger to people who want to scramble around,” he said.

"That's one reason why we've now acted - if we leave it, it could become a safety risk.”

The removal of the wreck will come at significant cost, expected to be six figures, but Mr Quirk said he did not expect taxpayers to foot the bill. "It will have to be funded by taxpayer money initially and we will do the appropriate process. We're removing it with the view we'll recover costs from the boat owner,” he said.