Western Morning News (Saturday)
Yacht firm shows off its new £12m model
THE wealthy and well-heeled have been travelling to Plymouth from around the world to view Princess Yachts’ newest and largest boat – the £12m Y95.
Haves and have yachts flew in from the USA, Middle East, Asia and across Europe to tour the vessel, which at 95 feet in length is just short of superyacht status.
The first Y95, known in the industry as “slot 1”, was moored at the Royal William Yard marina prior to being collected by its new owner, who will transport it to its new home in Asia on a cargo ship. Princess Yachts took the opportunity to show it off to invited guests – and has already received orders for more Y95s.
Simon Clare, Princess Yachts’ marketing director, said the company hopes to make about nine 95s a year. He said: “The owner is taking this yacht to Asia but allowed us to show key customers before it went. We have had people come from Asia, the USA, the Middle East and Europe. There have been private and exclusive invitations to people looking to buy yachts of this size. We have had orders already.
“Our customers, when they come to our factory, are blown away by what they see, as we make far more of our yachts in Plymouth than any other shipyard does in their brand homes. Our customers are all talking about the craftsmanship. The number of customers we have reached around the world from Plymouth is huge. A truly global business at the forefront of the industry.”
He said the Royal William Yard is the ideal setting for the boats.
“The RWY is a great location, particularly for international clients. It’s beautiful here and there is so much history here. People realise there is quite a bit of boat building history in Plymouth.”
Like nearly all Princess Yachts boats, the Y95 is made to order. Vessels ordered now will be ready in 2024/2025. Each boat is priced differently, depending on modifications and layouts which the buyer decides on in conjunction with Princess’ design team. The first Y95 was priced at £12m including tax and would cost £1.2m-£1.8m a year to run.
It is the sister ship to the X95, which was only launched two years ago but has already become a “runaway commercial success”.Princess Yachts makes all its vessels in Plymouth, where it employs 3,200 people. It produces about 200 boats a year but is aiming to increase production to between 250 and 280 annually.