Cecil Wright Newsletter Issue 9

THE DRIVING SEAT INEOS is poised to create a Land Rover Defender retro replacement in an enterprise currently known as Projekt Grenadier

EXCLUSIVE INTERVIEW Lord Foster discusses the build of Yacht Club de Monaco

Issue 9

www.cecilwright.com

I think that if I had just sold my textiles business and become a cash billionaire, there’s a good chance I would want to buy a yacht. Plainly if I had been focused on textiles, it’s unlikely that I would be up to speed with the intricacies of the large yacht market. So, in line with good business procedure, I would look for someone who was.

This is where I think we add value. At Cecil Wright, we have the knowledge and experience to guide our clients. We are an authentic and responsible company founded on honest relationships and lean business practice. We offer our clients absolute confidence in the process of buying or building a yacht, without the fuss.

CONTENTS

12 HAT TRICK Turning heads with Lock & Co

16 UNIQUE TEAK Yacht decking with Feadship

18 SHIP SHAPE The new Yacht Club de Monaco

2 – 5 CHARTER NEWS Planning your perfect charter 6 – 7 BROKER NEWS A look at the current market 10 – 11 THE DRIVING SEAT Projekt Grenadier 12 – 13 HAT TRICK Turning heads with Lock & Co 16 – 17 UNIQUE TEAK Yacht decking with Feadship 18 – 19 SHIP SHAPE The new Yacht Club de Monaco 20 – 21 TRIP OF A LIFETIME The Maldives 24 THE MARKET Overview of the market 25 MEET THE TEAM Get to know the Sales Team

PRODUCTION Publisher: Cecil Wright & Partners Ltd Editor: Stephanie Drax Design & Production: strattons.com Email: chris@cecilwright.com Front Cover: Land Rover Factory 1948

CALLISTO Breathtakingly beautiful on the water with classical features, CALLISTO is equipped with a full gym, amazing water toys, an elevator, and sweeping sun deck. In the galley, the head chef, who is Michelin trained, cooks up the most delicious, healthy menus from around the world.

65m Feadship 2006 12 guests From USD 415,000 per week

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M/Y CALLISTO | DINING

M/Y CALLISTO | FUN

95m Lürssen 2014 12 guests EUR 1,700,000 per week

LADY BRITT A recent charterer said, “We felt from the moment we arrived that we had died and gone to heaven.” Her distinctive lines are flanked by the yacht’s very own ‘water park’, which includes a 10m waterslide. The ‘LADY BRITT Olympics’ record has been smashed this year – 28 times down the slide in one day – by a nine year old guest. Children sleep very well on LADY BRITT.

63m Feadship 2011 12 guests From USD 445,000 per week

KISMET The brief from the owner of this 95m Lürssen was “make it impressive”.

There are endless areas to hangout in large groups or in total solitude.

Special features include a ‘rock garden’, wellness area with ice fountain, demibasketball court, fire pit, monster video walls, piano bar, sea terrace, cigar room-come sports bar – the list goes on. Among KISMET’S crew is a masseuse and beautician, a hair stylist (there’s a hair and beauty parlour) and a yoga teacher. The crew are as awesome and welcoming as the yacht itself.

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CREOLE

65m Camper & Nicholsons 1927 (2006, 2008) 11 guests

CREOLE is part of the Gucci family dynasty who have lavished substance and style on this precious heirloom.

She is the largest wooden sailing yacht in the world and sails like a dream, still racing in regattas to this day. Jackie O and Sophia Loren are just two of the iconic beauties photographed onboard over the years, and in all the photos the backdrop is almost as alluring as the subject. This is the first time CREOLE has been available to charter in her incredible 90 year history.

POA

JOY Built for one of Feadship’s youngest ever clients who threw away the rule book.

The main saloon is tiny for a reason – the theory being that the larger the room, the less it is used. On the other hand, the decks are oversized; there’s even space for a basketball court on the foredeck. JOY is radical, visionary… and utterly cosy.

70m Feadship 2016 12 guests From USD 700,000 per week

83m Amels 2017 12 guests From EUR 1,200,000 per week

HERE COMES THE SUN Hundreds of craftsmen came together to create Amels’s latest incredible flagship – 2,800 gross tonnes and 6 deck levels of total luxury on the water. Her sheer scale means big open spaces and big deck areas which are an Amels trademark; yet her lines are still sleek and racy.

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SILVER FAST

77m Silveryachts 2015 12 guests

The fourth and most advanced ecofuel-efficient vessel in the ground-breaking Silver Series, SILVER FAST is the world’s largest aluminium yacht with conventional propulsion. Her shallow draft gives access to anchorages out of reach to others. Amenities include a gymnasium area, sauna, steam room, massage room, beauty salon, 8 person Jacuzzi with cinema and 8 cabins. With a top speed of 27 knots she’s supercool and superfast.

From EUR 650,000 per week

OCEAN PARADISE

KING BABY Rock ’n’ roll iconography, space, height and mirrors create the ‘wow factor’ on KING BABY. So does the bar on the sun deck which surrounds a mosaiced Jacuzzi with a 3 tiered waterfall. The galley is totally state of the art and so are the water toys; there’s a Zapata flyboard and a sensational waterslide from the sundeck. KING BABY is sassy and perfect for groups of friends.

This funky 55m Benetti is a floating world of cool with seventies-inspired décor, an inside-outside gym, Jacuzzi with massage fountains as well as a dedicated onboard masseuse.

43m IAG Yachts 2016 10-12 guests From USD 160,000 per week

55m Benetti 2013 12 guests From USD 275,000 per week

JAGUAR JAGUAR houses a brand new Mastercraft pro wakeboard boat in her lazarette and has quite simply the best array of water sports we’ve seen on a charter yacht of this size.

She effortlessly caters to novices, youngsters and the most serious water sports enthusiasts.

56m Benetti 2005 (2010) 12 guests From USD 285,000 per week

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THE MARKET In comparison to the same five month period (April – August) as last year, the market is slightly down on the volume of sales with 225 vs 236, but the general feeling amongst brokers is one of resilient confidence.

Notable sales during this period were the 75.40m Lurssen NORTHERN STAR (2009) asking EUR 83,000,000, the iconic 74.50m Blohm + Voss ENIGMA (1999 / 2009) asking EUR 47,500,000 and off market the 85.60m Oceanco ST. PRINCESS OLGA (2013). Other sales of note were the 59.30m Benetti I DYNASTY (2008 / 2014) asking EUR 29,500,000, the 49.78m Heesen NOVA (2017) asking EUR 31,600,000 and another Heesen, the 49.80m ROCKET (2011) which was asking EUR 24,500,000.

Heesen have been by far the most prominent yard in the 40m-50m space, laying claim to 6 out of the 38 sales in the this period. They have a further four yachts for sale in build, although at the time of writing two of these might not be for long. Featured on page 14 is the 50m hybrid Project NOVA which is scheduled for delivery in 2019.

Notable additions to the market have been fairly light but this is not a surprise for this time of year. The most prominent were the 73.50m Nobiskrug FLYING FOX (2012) asking EUR 67,500,000 and the 68m Feadship LADY CHRISTINE (mentioned below).

For more information contact Henry Smith on henry@cecilwright.com or call +33 6 40 62 01 51 Central Agency for: ENCHANTRESS SILVER DREAM TURQUOISE

THE 60M – 70M MARKET There is a notable sector in which we have seen zero sales compared to the 8 sales of the same period last year – the 60m-70m market. With 27 brokerage yachts openly for sale in this market segment, how can this be explained?

When we look at what these 27 yachts consist of we begin to get a clearer picture. Two of them are Damen support vessels and a further 9 are over thirty years old. With the exception of the 69.95m Vuyk SHERAKHAN (built in 1965 and converted in 2005) which is asking EUR 24,500,000, they are fundamentally refit projects. This leaves 16 yachts.

Of these, 6 are from the top northern European yards of varying ages from 2003 to 2014 – 2 x Feadship, 1 x Oceanco, 1 x Icon Yachts, 1 x Nobiskrug and 1 x Amels.

Yacht

Year

Price ¤

GT

SYCARA V 2010 62,500,000 1,585 ICON 2009 48,500,000 1,295 LADY CHRISTINE 2010 52,720,000* 1,608

Per Ton ¤

Days on the market

39,432 37,452 32,785

2,991 445 63

*Converted from USD

LADY CHRISTINE 68m Feadship

SHERAKHAN 70m Vuyk en Zonen

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HUNTRESS 54m Feadship

Looking at seemingly directly comparable 68m pedigree yachts, there is clearly something amiss when it comes to the price per ton (as can be seen in the table and more markedly by the length of time they have spent on the market).

When we look at the asking prices we would be forgiven for thinking that ICON represented the best deal, whereas in reality LADY CHRISTINE is actually the best deal when it comes to price per ton.

Unfortunately, due to overevaluation, the sector has become stagnant. However the owner of LADY CHRISTINE is a very market conscious and realistic individual, therefore I anticipate it won’t be long before the yacht is re-homed. Ideally, disruptors such as LADY CHRISTINE entering the market will encourage other owners to reassess where their yachts sit in the market, resulting in true fluidity and a flourishing market.

THE FEADSHIP MARKET The last 5 months have been unusually quiet in the Feadship market with only one solitary sale – the 30.80m CALYPSO. Built in 1971, she was significantly refitted in 2008 and was sold in May with an asking price of USD 650,000.

So why have there been so few sales in the Feadship market? The overvaluation I mention above is part of the reason, but it is also due to the lack of inventory. If you are looking for a Feadship that is less than ten years old and between 45m – 65m you have a choice of one!! The 60.35m, 2014 built ROCK.IT is the sole option.

Asking EUR 70,000,000 (EUR 66,667 per ton) she is not really considered to be competitively priced, however she is a phenomenally well laid out and beautifully constructed yacht. So, for the right price, she is a great option.

For reference, there are two Amels (Holland) yachts currently in build for sale: a 62.40m to be delivered in 2019, asking EUR 54,054 per ton and a 57.7m, scheduled for delivery in 2018 asking EUR 58,763 per ton. These can be customised to your exact preference without the additional cost of a refit over the purchase price (within reason).

Since my last article in April in which I mentioned seven Feadships had sold, there have only been two additions to the Feadship brokerage fleet that are less than ten years old. The most significant of these is the 2010, 68m, LADY CHRISTINE. Her asking price of USD 62,000,00 puts her at an extremely competitive USD 38,557 per ton (approx. EUR 32,785 at the time of writing). This yacht has been privately maintained by one owner and, having inspected her recently, I can confirm she is in top condition. That said, I assume any prospective owner will have to take a view on refitting certain areas of the yacht that are extremely personalised to the current owner.

In addition to the above – and looking further into the Feadship market – the following are of key interest (and some have had substantial asking price reductions): • •

•

•

•

•

•

•

96.00m FAITH (2017) POA 92.00m AQUARIUS (2016) asking USD 215,000,000 55.50m MADSUMMER (2005 / 2012) asking USD 32,500,000 55.00m HUNTRESS (1997 / 2013) asking USD 19,975,000 53.30m KISSES (2000 / 2014) asking USD 24,900,000 46.40m LADY MAY (2014) asking EUR 31,000,000 46.22m KISS (2015) asking EUR 29,500,000 44.60m BELLA VITA (2008 / 2014) asking USD 24,900,000

As ever, there are some off market opportunities in both the Feadship market and the wider market, details of which are available on request.

Also of interest and new to the market is GLADIATOR, the 2010 F45 Vantage Series which is asking EUR 23,000,000.

Her 2008 sister ship BELLA VITA came onto the market in June 2016 and following a USD 3 million price reduction is now asking USD 24,900,000.

FLYING FOX 70.5m Nobiskrug

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AQUARIUS AQUARIUS features a resolutely contemporary exterior design with a number of archetypal Feadship elements, such as a conventional bow and raked superstructure shape.

Type Length Beam Draft Gross Tonnage Builder Engines Naval Architect

Exterior Designer

Motor 92.00m / 301.9ft 13.50m / 44.3ft 4m / 13.1ft 2,980 Feadship 2 x MTU De Voogt Naval Architects Sinot Exclusive Yacht Design

Interior Designer

Built Max Speed Cruising Speed Guests Cabins Crew Hull Hull Colour

Sinot Exclusive Yacht Design 2016 17 knots 15 knots 12 6 31 Steel, Aluminium White

Sales Price

POA

THE DRIVING SEAT When the last Land Rover Defender rolled off the production line in January 2016, it left a hole in the hearts of many ardent fans. INEOS, the British petrochemicals company, is poised to fill that gap with a rugged and retro replacement, in an enterprise currently known as Projekt Grenadier.

It was in a small London pub called the Grenadier, around the corner from INEOS headquarters, that the plan to create a new 4x4 off-roader was hatched. Jim Ratcliffe, the INEOS Chairman, was lamenting with colleagues the recent loss of Land Rover’s great workhorse, when the idea was mooted, and Projekt Grenadier was born.

'We are coming at this from scratch,'

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admits Tom Crotty, a director at INEOS and spokesman for the project, 'but we are also not bound by the traditional thinking of the car industry. We hope that towards the end of this year we’ll have a fresh design for a vehicle that stands out from the crowd: one that is reliable off-road, has an analogue feel to it and will become an icon it its own right.'

BEST OF BOTH WORLDS INEOS Automotive aims to achieve the perfect balance of German engineering and British design – and hasn’t had to look far for talent. Dirk Heilmann, former head of Engineering and Technology at INEOS O&P, is spearheading Projekt Grenadier and is the inspiration for the German spelling of its name. Meanwhile, Toby Ecuyer, creative

director of British design studio RWD, has been brought on board to begin sketching ideas.

Toby is well known to Jim Ratcliffe – he designed the INEOS founder’s 78m Feadship HAMPSHIRE II. 'I’m designing another yacht for Jim right now – an explorer boat,' says Toby, 'And as a big Land Rover fanatic myself, I couldn’t help but draw a few of them on the deck. So when he asked if I’d be interested in being involved in Projekt Grenadier, I had to say yes.'

SHARED VISION Though Toby’s work has been eclectic, he hasn’t designed a car before. 'I’ve been doodling Land Rovers for years now,' he says, 'I own a Defender – I love that it’s part tractor, part car, part family member – but there are lots of things wrong with it and it needs some smart design. It’s exciting to give validity to my thoughts.'

The motivation of the team behind Projekt Grenadier is to capture the best aspects of the Defender – its utilitarian functionality and classless character – and improve on its styling and build. Toby is currently considering a more practical split tailgate (which would change the back shape) and galvanizing the chassis to avoid mud – and then rust – getting into the car’s nooks and crannies. The Grenadier will probably have three engine versions – diesel, diesel/electric hybrid and petrol. The hybrid would comply with limitations on city emissions and the petrol version would satisfy the potential US market.

With the current blurring of lines between urban and farm vehicles, the team is adamant that the Grenadier will be a pure workhorse, without technological distractions. 'We want to produce an uncompromising 4x4 that will do the job for farmers, forestry workers and safari managers,' says Tom emphatically, 'This is not about sat nav, autonomous driving and cruise control.'

THE INSIDE TRACK Projekt Grenadier is currently recruiting automotive experts and the aim at manufacturing stage is to employ approximately 1,200 people. The search is on for a production site in either the UK or continental Europe, with good port access to export 70% of the 25,000 units they intend to produce annually. INEOS expects to invest £700 million into the enterprise: the vehicle will retail at around £30,000 and the projected release date is 2020.

Tom will shortly announce to the media that a website will launch in September dedicated to engaging with the Defender fan base. 'We want to share stages of the project with people and get their feedback, asking questions such as ‘should the car have a digital or analogue clock?’ We’ll encourage our followers to sketch and scan drawing suggestions and send them in to us.' When the Grenadier finally charges onto the market it will be a collaborative effort between Defender devotees – and a new evolution of the classic off-roader.

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HAT TRICK As the oldest retail shop in London and the oldest hatters in the world, Lock & Co has been turning heads for over 330 years. Loyal customers have included Prime Ministers and poets, film stars and fashionistas – a roll call of distinguished names for whom a fine hat is the final touch.

Panama hats are hand-woven in Ecuador using the native toquilla palm, and the best come from the town of Montecristi. ‘Each village weaves hats in their own style, with distinct patterns and banding,’ explains Roger, ‘It takes one week to weave a hat, and we buy those with the highest quality straw and finest weave. The patterns are intricate and the hats are soft to the touch.’ The hats are bought raw from Ecuador, in conical shaped hoods, and are hand-shaped and trimmed in Europe. They come in three crowns – trilby, rollable and planter style – and various brim widths, and all are trimmed with Lock & Co’s leather inner headband and finished with a grosgrain ribbon (traditionally black, but now offered in a range of colours as a bespoke service).

In 1676, ten years after the Great Fire of London, a hatters set up shop on a newly paved road – formerly a dirt track – that lead to St James’s Palace. The hatters served the royal court and was one of the retail pioneers of what would become St James’s Street – today, one of the city’s most illustrious addresses.

TALKING SHOP Lock & Co employs two full time milliners and a designer, who all work up in the eaves of the building. ‘No other business can say that their goods are made on St James’s,’ says Roger, ‘but we are getting to bursting point. Our staff are inundated and our cellar is rammed full of hats!’

Stock includes top hats, trilbys and tweed hats, beanies, boaters and bakerboys caps, and for ladies there are whimsical couture creations and ready-to-wear pieces that can be altered and dyed to match an outfit.

The Grade II-listed atelier brims with character and charm. ‘Things move slowly at Locks,’ says Roger Stephenson, deputy chairman and the seventh generation of his family to have shared ownership with the Lock family, ‘Our clients like the occasion of coming in and being fitted here, in a shop that is an oasis of calm near the frenzy of Piccadilly.’

Lock hats have woven their way into history on the heads of many of their celebrity clients: the homburg on Winston Churchill, the fedora on Oscar Wilde, and the bicorne on Admiral Lord Nelson, who died in his tailor-made hat at the Battle of Trafalgar. Modern day celebrities are just as devoted: ‘It’s surprising who walks over our threshold week to week,’ says Roger, discreetly.

CROWNING GLORY The Cecil Wright offices are across the road from Lock & Co, and so when Chris Cecil-Wright was choosing a gift for charter clients to receive onboard their chosen yacht, a panama hat seemed fitting. 'Anyone can wear a panama – men, women and children – and Lock & Co panama hats are special. They are perfectly made, extremely comfortable, and timeless too.'

The shop’s most famous style is the Coke (pronounced ‘cook’). When nobleman Edward Coke commissioned a hardwearing hat for his gamekeepers at Holkham Hall in Norfolk in 1849, Lock’s chief hatmaker, Thomas Bowler, set to work. The prototype passed muster when Coke stamped on it to test its durability, and the bowler hat was born. Its distinctive dome went on to define the silhouettes of Charlie Chaplin, Butch Cassidy, and secret agent John Steele in the television series The Avengers.

Lock & Co’s client base has been as eclectic as the hat styles they offer. One service that all customers – past, present and future – benefit from, is complimentary shaping and cleaning, whenever required. A Lock & Co hat should always look its best, Roger maintains: ‘You own a Lock for life.’ www.lockhatters.co.uk

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PROJECT NOVA The exterior of Nova is designed by Omega Architects and it’s their first yacht with hybrid propulsion which uses two sources of power: diesel mechanical and diesel electrical.

Type Length Beam Draft Gross Tonnage Builder Naval Architect

Exterior Designer

Motor 49.80m 9.10m 2.15m 315 GT Heesen Yachts Van Oossanen / Heesen Yachts Omega Architects

Interior Designer Built Max Speed Guests Cabins Crew Hull Colour

Sinot Yacht Design 2019 16.3 knots 12 6 9 White

Sales Price

POA

Feadship is the epitome of yacht building.

In every issue we comment on the drive for quality at Feadhship that has come to define the brand.

F E A D S H I P FA C T S # 1 ' We keep ten years’ worth of teak in stock because it takes time to find it, and we only use the best.'

Jos van der Meer, Manager, Carpentry Department Feadship

UNIQUE TEAK A yacht has the power to seduce as soon as our toes touch its teak.

Yacht decking is renowned for being both cool and soft on contact, but as Feadship’s Manager of the Carpentry Department explains, not all teak decks are created equal.

'There are many details that distinguish a Feadship from any other yacht brand,' says Chris Cecil-Wright, 'but one that I often talk about with clients is teak. Their teak decks are harder, thicker and with a uniform colour that sets them apart from the rest. Feadship teak still looks fresh after twenty years.'

Jos van der Meer has been working in the carpentry department of Feadship for 34 years and his appreciation of teak, a tropical hardwood, is deeply ingrained. Though it is an expensive product to source from the forests of Myanmar, Jos believes that there is no substitute. 'It’s teak or nothing,' he says simply, 'It’s non-slip with no splinters, so you can walk on it with bare feet; the colour is rich when wet and a light grey when dry, so in the burning sun it feels cool; and teak likes water.'

NATURAL SELECTION Feadship never cuts corners – when they buy teak, they have people go into the wild for them in Myanmar to identify the perfect trees.

'We pay more to have the first selection,' says Jos, 'The best logs are the ones found standing in the centre of a group – only the top of the

tree is in the sun so the trunk will grow straight and quickly. This creates long planks with straight lines, which means we can buy them up to 7 metres in length.'

Feadship buys 120 cubic metres of teak annually, regardless of orders. The logs need to dry in a natural state for seven years – under a roof in the open air – before they can be used.

'We need between 7 and 12% of humidity in the wood for it to have the ability to expand and shrink,' Jos explains, 'The plank grows when it’s wet, making the rubber seams between the planks rise, and this creates a non-slip surface for deck shoes. When the wood dries, it shrinks again – just as in nature.'

FULLY DECKED OUT Yachts require an enormous amount of teak: a 70m vessel will need 40-50 cubic metres for the decking alone, and Feadship’s largest creation to date, the 101.5m SYMPHONY, used 110 cubic metres throughout. Though Jos’s colleagues might survey sixty logs that are delivered to a depot in Holland or Germany each month, they will only choose the six best logs. 'We are very critical,' he says, 'We use

40 per cent of the log for the decking – the highest quality – and the rest we will use for interior ceilings or furniture.'

Feadship chooses to use planks that are 25mm thick, whereas many other companies will use just 6 or 8mm. 'Teak likes water, but the glue doesn’t,' Jos says, 'If you have a transatlantic crossing, and water is splashing onto the teak for several weeks, it could get into the glue.

So we make our teak thicker and we’ve had no problems with that.'

SMOOTH SAILING In the Van Lent workshop, each plank is smoothed and shaped to fit the vessel. Once onboard, a team of twelve people will work on the decking and exterior ceiling, gluing and bolting each plank in place and filling the gaps between them with black rubber. Once the painter has done the last spray of the project, the planks are sanded to bring out the black lines and the patterns in the teak. 'It’s a quick story, but a long process,' laughs Jos, 'To understand it you need to be able to see it onboard – and feel it with your feet.'

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' Unlike many yachting clubs, the Yacht Club de Monaco has a full yachting programme and is thoroughly used. It also has an atmosphere of authentic Monaco glamour.'

Chris Cecil-Wright

SHIP SHAPE The new Yacht Club de Monaco (and its distinctive ship-like silhouette) has reinforced the principality’s reputation as the centre of luxury yachting. Lord Foster, chairman and founder of Foster + Partners, the architecture firm behind the project, tells editor Stephanie Drax how he harnessed the spirit of sailing in steel and glass.

Stephanie Drax: Foster + Partners was appointed to design a new Yacht Club de Monaco in 2003 and the project was completed in 2014. What was your approach and how was the concept developed over that time?

Lord Foster: Our approach was based on research into the needs and aspirations of the different users of the yacht club.

Open and integrated with the urban context, it responds to Monaco’s beautifully remodelled harbour front. The terraces are like the deck of a ship and step up along the harbour to offer wonderful views out to races at sea, or inland over the Formula 1 Grand Prix circuit.

The design process was truly collaborative, working closely with the Palace, the Government and a specially appointed Yacht Club de Monaco Commission, as well as a local architect and specialist local contractors. The club needed a high level of flexibility to allow their members and corporate partners to use the various spaces in different ways at the same time.

The cascading terraces and external staircases were designed to accommodate the flows from different events, whilst not interrupting the permanent, more tranquil, core spaces of the building.

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SD: What were the complexities of building on reclaimed land?

LF: Before the construction work could begin, the site itself had to be created by reclaiming land from the Mediterranean.

A new platform was built by constructing a dike that provided the new site boundary; this was followed by pumping water out and sediments in. This was technically extremely challenging, but a process that Monaco – with its long history of land reclamation projects – is familiar with. The constrained site also made excavation complex, as the construction works had to be sensitive to the nearby Grand Prix circuit as well as the foundations of the neighbouring landmark, the Monte Carlo Star building.

SD: As a nautical commission, how did the Yacht Club de Monaco differ from other projects of yours?

LF: Symbolically, we felt that the yacht club should convey, through its architecture, the spirit of sailing. There are several references to the sea in its wide terraces, which were designed to reflect the decks of a ship and are shaded by fabric screens, supported by masts and booms.

All images: Nigel Young Foster + Partners

We have a history of nautical commissions, including the design of several yachts. Our first, in 1993, was the 58m high-speed, high performance motor yacht IZANAMI. Our work in this sphere continued with a fleet for YachtPlus, which was less concerned with speed and more about an outdoor luxury lifestyle. We have also worked on the marine interiors of the 30m sailing yacht DARK SHADOW and more recently the 56m PANTHALASSA. Our latest project was the 20m Alen Yacht, which combines the elegant social spaces of a cruising yacht with the pleasure of a day boat. Part of the appeal of these commissions is that we enjoy the involvement with the long tradition of craftsmanship.

SD: What are your thoughts on the aesthetics of the yacht club’s interior scheme and how they complement the building?

easily displayed and interchanged to tell the story of the Yacht Club.

SD: How did you conceive of the internal configuration of spaces? What are the functions of those spaces and how did they dictate the overall design?

LF: The building was conceived as a city in miniature – it’s a sequence of spaces with clubrooms, schools, offices and restaurants all unified in a single structure and nestled within the dense urban fabric of Monaco. Like a city, there is a network of interior circulation ‘streets’ and a hierarchy of public and private spaces. The landscaped roof of the sailing school complements the city’s green spaces and forms a new link in the pedestrian route between the quayside and Casino Square. The sailing school is part of the Monaco education system and is used by every child.

LF: Due to its coastal location, the project features durable, high quality materials throughout, such as environmentally sourced internal hardwood flooring. The external decking with natural stone paving on the quayside is a continuation of the Hercules Port enhancement works. The glass panels on the northern façade along the busy Boulevard Louis II are robust and easy to clean and maintain, and any external metalwork is protected from the corrosive seawater. The landscaping of the public garden with new trees provides natural protection from both the sun and spray at the most exposed part of the site, where it is closest to the Mediterranean. The external terraces also have motorised awnings, which provide shade and can be retracted in high winds to prevent damage.

SD: Finally, how important was the building’s sustainability?

One of our fundamental philosophies was that the design of the building should be inspired by, and allow the celebration of, the club's unique heritage. A bespoke exhibition system was integrated into the walls of the main spaces to allow the works of art and objects to be

The intricate design of the brise-soleil was inspired by the imagery of yachts and, like a ship, the observation decks are shaded by retractable fabric screens by a mast and booms. The design of the shading systems celebrate the wonderful nautical heritage and traditions of the club.

LF: We share the Principality’s commitment to sustainability – this is integral to everything we do, and has been since the inception of the practice in 1967.

Our design is very specific to the site, to the patterns of use and our detailed environmental analysis. Monaco’s sunshine is converted into energy by photovoltaic cells and solar thermal panels, and we have taken advantage of the waterfront location by integrating seawater cooling systems. On the harbour elevation, the glass walls can be opened up to allow complete natural ventilation, while a series of carefully positioned louvres provide shade from the sun – all of these are energy-saving measures.

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THE MALDIVES For more information contact the Charter Team on charter@cecilwright.com or call +44 20 7408 1001 +377 97 98 76 60

Haa Alifu Atoll

MA LD IVE S

North Malé Atoll

The Maldives sits delicately atop a vast underwater mountain range: 1,191 coral islands and sandbanks grouped in a double chain of 26 natural atolls, spread magnificently across 298 km2 of the Indian Ocean. Its unique geography and topography has earned this far-flung destination a label for escapism and relaxation.

The Maldives nurtures a spectacular diversity of fauna and flora, and its reef structures and crystal clear waters are renowned for their treasure trove of marine life. You can snorkel or scuba amid gentle turtles and dogtooth tuna, ‘grumpy’ wrasses and balletic manta rays. You might even find yourself up close and personal with a formidable whale shark – the biggest fish in the sea and a year-round resident of the Maldives.

Baa Atoll

Malé South Malé Atoll

Faafu Atoll

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Indian Ocean

NORTH MALE ATOLL Central to the chain of islands is the North Malé atoll, where the Maldives’ capital Malé is located. Anchor off the private island resort of Bandos and visit their award-winning spa for a perfected Asian therapy. Explore Kihaadhuffaru Thila, a top dive site with waters rich in stingrays and nurse sharks.

BAA ATOLL Baa atoll – a UNESCO World Biosphere Reserve since 2011 – is a short sunset or sunrise cruise away. As well as the many hard and soft corals to dive or snorkel, Hanifaru Bay is one of the few places in the world where whale sharks are known to congregate to breed. The Baa atoll is also known for its large population of manta rays – catch sight of them at their cleaning and feeding grounds in shallow waters.

For an unforgettable experience on land, indulge in a secluded evening BBQ on an uninhabited island. Sit at the water’s edge with the waves lapping at your feet, and watch the sun set on another day in paradise.

RASDHOO ATOLL For adrenalin dive seekers, a cruise to Hammerhead Point in the Rasdhoo atoll is a must. On the outer reef, the depth drops rapidly to over 200m; but with clear water, visibility is superb. For the best chance of seeing a hammerhead, try an early morning dive – hammerheads are often seen to descend at dawn!

ARI ATOLL There’s much more to the Maldives than marine life. There are a multitude of activities on offer for land lovers too, such as gentle walks through the mangroves of uninhabited islands, or sunset yoga with coconut trees overhead and fine white sand at your feet.

WHEN TO GO? December to March is high season, with temperatures floating around 28 degrees above and in the water. February and March tend to see the hottest and sunniest days.

WHICH YACHT? LILI 55.00m Amels 2017 12 guests & 13 crew From EUR 290,000 per week

During the day, visit traditional Maldivian villages and discover the local markets selling handcrafted goods. And if you’d like to experience life below sea level but have a fear of diving, then eat at Ithaa, the world’s first all-glass undersea restaurant. Located five metres below the surface, the dining room can cater to up to twelve people and boasts panoramic views of vibrant coral gardens.

FELIDHU ATOLL The smallest Maldivian atoll by population, Felidhu is home to the Dewana Kandu national park, famed for being one of the most exhilarating drift dive sites in the world. There you can glide past underwater caves and overhangs populated by eagle rays and reef sharks.

SOUTH MALE ATOLL This atoll is far removed from the bustle of Malé, and has only three inhabited islands. It’s an ideal location to end your trip in total seclusion.

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ENCHANTRESS ENCHANTRESS is a superb Benetti Classic – these yachts have the style and space of a larger yacht and yet the length and draft allow for greater flexibility when it comes to anchoring closer to shore.

Type Length Beam Draft Gross Tonnage Builder Engines

Naval Architect Exterior Designer Interior Designer Built

Motor 35.0m / 111ft 7.62m / 25ft 2m / 6.6ft 247 Benetti 2 x Caterpillar 1,400hp Benetti Stefano Righini Zuretti 2001

Refit Max Speed Cruising Speed Guests Cabins Crew Flag Classification Hull Hull Colour

2009 / 2015-16 15 knots 12 knots 10 5 7 Marshall Islands ABS GRP White

Sales Price

EUR 4,250,000

THE MARKET

531 17.4KM 3.8 181.6 209

YACHTS SOLD IN THE LAST 12 MONTHS

IN LENGTH

The market is in good shape for the larger yacht.

The 50m market has been slow, but the majority of unsold stock has had a price adjustment; those yachts are now predominantly sensible buys.

Whilst the US market has taken centre stage in the past 24 months, there remains a very strong Russian representation. It’s far more low-key than in past years, but strong none the less.

As ever, top shipyards are in strong demand, with order books looking very healthy.

BILLION

IN VALUE (EUR)

M

LARGEST YACHT ON ORDER TODAY

YACHTS OVER 70M NOW ON THE WATER

FEADSHIP FA C T S

2 OF 3

LARGEST FEADSHIP SALES OF THE LAST 18 MONTHS WERE BY CECIL WRIGHT & PARTNERS. 62M POSITIVE CARRY AND THE 60.55M KINGDOM COME

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FEADSHIPS FOR SALE OF WHICH 9 ARE HERITAGE

9

FEADSHIP FOR DELIVERY BEFORE THE END OF 2019

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Figures are as of the 30/08/2017

Every client is different, and no two deals are the same.

That’s why sales at Cecil Wright is never a ‘one broker’ process: Chris, Henry, Matt, Liz and Maria all pool their knowledge and work in unison to deliver a bespoke service for each client.

With broad industry experience and genuine relationships with owners, shipyards and designers, the Cecil Wright team puts every client at an advantage, whether for a second-hand sale, purchase or new construction. From the beginning, the company’s principle has been ‘fewer clients, serviced better’.

Testament to that is Cecil Wright’s history of attracting central agencies, the majority of which they have sold within six months.

HEADS TOGETHER Cutting-edge technology, contacts and market intelligence are at the sales team’s fingertips, but it’s their combined expertise and team approach that sets them apart in the industry. Chris and Henry have focused on sales, with Chris’s strength in the new build process and Henry’s strength in analysing market trends and data. Matt draws on many years in management and crewing in his role as broker, Maria worked behind the scenes with Chris for ten years, and Liz is skilled in budgeting, refit and recruiting. They are all fanatical about yachting: ‘Sit the team in a room and we will enthuse about yachts for hours,’ admits Matt.

NATURAL RAPPORT Ultimately, yachting is about people, and Cecil Wright values its client and industry relationships above all else. A spirit of generosity is fundamental to the team’s work ethic, and every completion is viewed as a mutual achievement. Matt says he’s been happy to jump in and drive a limo when a chauffeur didn’t show, and Chris says that he has always made time for a young hopeful who wants to get into the business. Generosity is even reflected during the transactions themselves: ‘We don’t negotiate so hard there’s nothing left on the table,’ Chris says, ‘Our clients know that when we represent them we have these values in mind.’

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THE TEAM Maria Botwright Mobile: +377 6 40 62 01 50 maria@cecilwright.com Chris Cecil-Wright Mobile: +44 7920 557 837 chris@cecilwright.com Liz Cox Mobile: +33 6 72 54 36 82 liz@cecilwright.com Sarah Fraser Mobile: +44 7973 796 467 sarah@cecilwright.com Lucinda Rosen Mobile: +44 7467 136 305 lucinda@cecilwright.com Matthew Ruane Mobile: +44 7797 722 024 matthew@cecilwright.com Henry Smith Mobile: +33 6 40 62 01 51 henry@cecilwright.com Claire Van Der Vorm Mobile: +44 7747 586 642 claire@cecilwright.com

THE OFFICES London Cecil Wright & Partners Ltd 73 St James’s Street London SW1A 1PH UK Tel: +44 20 7408 1001 Monaco Cecil Wright & Partners Sarl Le Mirabel 4 avenue des Citronniers MC 98000 Monaco Tel: +377 97 98 76 60 www.cecilwright.com

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Cecil Wright accepts no responsibility for the opinions or information contained in this publication. While the information in this publication is intended to be accurate no representation or accuracy or completeness is made.