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Fire-damaged superyacht up for sale

Saturday 10 Nov 2012 10:50 a.m.

A superyacht under construction and badly damaged in a fire at an Auckland shipyard three months ago is up for sale at a substantial discount.

The August blaze at McMullen and Wing boat-builders destroyed parts of the 50m luxury Star Fish's interior but left the aft portions virtually untouched, said owner Richard Beattie, a Hong Kong-based multi-millionaire and chairman of charter company Aquos Yachts. The completed steel hull was essentially undamaged.

Mr Beattie said the decision to sell the yacht, which would have been worth around $60 million finished, was "painful and heart-wrenching" but was driven by financial reasons. In its current state it was valued at around $17 million but was available for sale at a "fraction of that value".

"Everyone involved with the project knows how much energy, how much creativity went into her vision, design and creation," he said.

McMullen and Wing estimated it could be completed within 18 months and would need a new superstructure.

Mr Beattie also owns the Big Fish, a luxury charter yacht which was built by McMullen and Wing and is now undergoing a refit at the shipyard.

McMullen and Wing said the fire was a catastrophic event for everyone involved but the yacht now could be seen as a well-developed blank canvas.

Commercial manager Michael Eaglen said it had been hard times for the company and around 60 jobs had been lost.

"But we are still in business and we're fortunate that we didn't suffer a lot of physical damage to our infrastructure as a result of the fire."

NZN

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