60.6m Feadship hits the market
The 1979 Feadship Kingdom Come has been listed for sale with Charlie Carveles of Yacht Masters for an asking price of €17.85 million (VAT paid).…
The 1979 Feadship Kingdom Come has been listed for sale. The 60.6m build was formerly commissioned for an industrialist before being sold to a Head of State, who owned the yacht for over 30 years. She is now up for sale with Charlie Carveles of Yacht Masters for an asking price of €17.85 million (VAT paid).
“She has had a huge amount of work completed. She’s been extended at the aft, had AV upgrades, the engines have been rebuilt, she has a spa fitted with a steam room and sauna and also has new paint. What’s great is that despite the exterior work and interior refitting, she retains her traditional 70s Feadship lines”, commented Carveles.
60.6m Kingdom Come
Kingdom Come has undergone a full technical and visual refit, with the whole interior being replaced. The interior woods have been reconditioned – the flooring was formally the flooring of a British bank – and every room has a different theme and colour.
The bathrooms, despite featuring upgrades, maintain the original Egyptian marble that has been left in place since the 70s and throughout the yacht are one-of-a-kind furniture items and other unique touches, such as leather staircases.
The average 57.5m - 62.5m motoryacht accommodates 13 guests, so her 20-guest accommodation over nine staterooms is a huge bonus for hosting guests and comprises a large owner's suite referred to as the 'opium den'.
The exterior, designed by the Dutch yard’s in-house design team, De Voogt Naval Architects, features a large sun deck, with a custom-fitted barbeque and large Jacuzzi. Following an extension to the stern, there is now a much larger swim platform.
Whilst the widespread admiration for older Feadships is clear, so too is their demand and popularity. The Superyacht Intelligence Annual Report 2015 showed that the average age of Feadships sold in 2014 was 20 years and 10 months, at an average LOA of 54m, and Feadships represented 9.3 per cent of total re-sales that year. The average age of Feadships sold in 2015 was 32 years and the average LOA was 43.8m.
In the current marketplace, many sellers are lumbered with a depreciating floating asset in a stagnant market, incurring substantial OPEX and receiving little demand. The knock-on effect is that the superyacht industry is less appealing for buyers. If you are buying an asset of this size, you need to know that when you come to sell it has residual value and attracts demand - both of which are concomitant for Feadships of Kingdom Come’s calibre.
Images courtesy of Yacht Masters
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