The threaded portion of the shaft that holds on the prop has sheared off. Is it worth TIG welding a new threaded section to the shaft or simply bite the bullet and try to find a new/second hand shaft in decent condition?
Recommendations for a Volvo parts supplier in the UK?
They are a ridiculous price new but you should be able to pick up a sold for parts 110s for £100 - £200 on eBay etc. PROPELLER SHAFT - 851301
You can sleeve the shaft with speedi sleeve if there is any wear where the lipseals sit if buying secondhand. Alternatively Marine Enterprises will sell you a complete unit ready to install in "good working condition" for about a grand