The Feadship build, Princess Too, has been sold with Alex Lees-Buckley of Camper & Nicholsons representing the seller and Cornelius Gerling of Edmiston introducing the buyer. The 47.6m motoryacht, which has undergone significant upgrading in the years since its delivery, was asking €15 million.
She was constructed with a steel hull and an aluminium superstructure and launched at Feadship’s Royal Van Lent facility in Kaag, in 1999. She features the naval architecture and exterior design work of in-house designers, De Voogt Naval Architects, and Sam Sorgiovanni Designs, the latter of which also worked on the interior.
47.6m Princess Too
Princess Too has undergone a rigorous maintenance programme since her delivery, with major work completed on five different occasions. Some of the more recent major refit work includes: an interior refit (2010); an overhaul of the engines and servicing of other on board systems (2011); a complete Awlgrip repaint of the hull to two-tone grey and an overhaul of the stabilisers (Icon Yachts, 2013); and replacement/upgrades of all electronic control boards (2015).
The sale marks the seventh second-hand Feadship sale of the year. The re-sale performance of second-hand Feadships in 2016 is already just one sale short of the eight made in 2015. Comparatively, 11 Feadships have come onto the market this year, which is one more than the 10 made in 2015’s entirety.
These statistics are indicative of the willingness to buy and sell at a time that Feadship's new build demand is outstripping its capacity to supply. The yard has a full order book (17 orders) until post-2020 – whilst it’s possible that the influx of new re-sale listings comprises upsizing and notoriously loyal Feadship owners looking to sell their current builds, it could just be that of savvy owners that are acknowledging the market's demand for these vessels in particular.
From the Feadship re-sales this year, the average build year is 1997 and the average selling/final asking price has been €18.7 million. These statistics not only favour the strong reputation of the yard – which is now building a new facility to cater for its demand – but it’s a win-win for residual value-seeking sellers and quick delivery-seeking buyers, vindicating an active period for the Dutch yard’s builds.
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