By the end of next year, Princess Yachts expects to debut its first-ever megayacht, a 105, thanks to a lease it signed for part of Devonport’s naval base in Plymouth, England.
According to published reports, Chris Gates, Princess Yachts’ managing director, explained that the company had been working for some time to acquire the 15 acres of land it now has the rights to, not just to keep its operations local, but to secure its future. Its existing facilities cannot accommodate anything larger than the 95-footer, pictured above, that’s the present flagship of its lineup. “Five years ago we built four boats a year of over 75 feet in length,” he was quoted as saying. “We want to get into the position where we are building in excess of 20 boats a year, over 80 feet in length. The market is out there already. We want to be pushed by our existing customer base and gain customers from other brands – there is a market we have not tapped into.”
Work should begin on the plug for the 105 as early as mid-July. That series, the first of which is reportedly being built for a Norwegian, will be marketed globally, though Princess Yachts apparently expects much of the interest to come from Middle Eastern, Asian, and Russian clients. It anticipates targeting the American market once the recession ends.
Gates hinted at plans for larger superyachts as well, though he would only say a concept is still on the drawing board.
The move isn’t without controversy, however. Three hundred employees at the Devonport facility were laid off last month, due to what Gates called redundancies, yet in one interview, he stated that about 200 people could be rehired to work on the new models.
photo: Princess Yachts International
Update, June 25: Princess has two dedicated Web sites for the 105 and a trideck 130-foot design.
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