The iconic original superyacht Lady Moura has been sold after just a year and a half on the market for an eye-watering €105 million.
Camper & Nicholsons announced the in-house sale of Lady Moura on Friday evening. Listed exclusively with the company for 554 days, the sale represents the fastest known brokerage sale of a 100+ metre vessel in the last 10 years, as well as the largest yacht sale recorded by a brokerage house since 2019. Her asking price was €105 million (US $125 million).
“Camper & Nicholsons is extremely proud to deliver such an excellent result to the owner, who recognised in the company a combination of unrivalled heritage and industry-leading innovation that made it the only choice to entrust the sale of such a beloved yacht,” said Camper & Nicholsons in a statement.
The legendary 105m motor yacht was delivered by Blohm+Voss in 1990 and was presented to the market for the first time a year and a half ago. Throughout the decades, her annual arrival in Monaco heralded the start of the summer season.
Lady Moura sails into Monaco
Lady Moura was the highly private vessel of Saudi Arabian businessman Nasser Al-Rashid and was built to host royalty and dignitaries, a family residence that became a point of reference in Monaco’s Port Hercules. Until her listing, she had never welcomed brokers or charter guests on board. Much detail about her Luigi Sturchio-styled interiors had remained a closely guarded secret.
Catapulted into the list of top 10 yachts in the world upon her delivery, she has been called the original superyacht: the beach club, the hydraulic fold-out balcony and the tender garage were among her pioneering features. Incredible interior volumes — her beam is 18.5m — and a seven-deck arrangement are just two of her stand-out features. Her listing on the brokerage market generated plenty of buzz.
The saloon of the Lady Moura
“I am extremely pleased we achieved such a result and the timeframe in which we achieved it makes it even more exceptional. I would like to thank all the people involved, across our Marketing, CRM, Legal, Brokerage and Management departments as this was a truly joint effort that makes me so very proud to work for this company, with every single team member we have today,” said CEO Paolo Casani.
The sale was achieved by Sales Brokers Arne Ploch and Andrew LeBuhn representing the seller and Fernando Nicholson representing the undisclosed buyer.
“An iconic vessel that defines the world of gigayachting has been sold in-house and three very senior and experienced yacht brokers have been able to achieve one of the great successes in yachting in 2021 thanks to the dedication and organisation of all the departments of C&N, starting from the CEO down. This remarkable sale is thanks to truly solid and experienced teamwork,” sad Senior Sales Broker Fernando Nicholson.
With two and a half years until delivery, only four apartments are still for sale in Monaco’s future eco-district Mareterra, while the majority of incoming families will be European, it has been revealed.
The European Central Bank announced on Thursday its intention to raise interest rates in the Eurozone for the first time in 11 years as a tool to fight soaring inflation.
Monaco’s main congress and cultural centre, the Grimaldi Forum, is set to grow enormously as it fuses into the new Mareterra eco-district. Here’s what it will look like in just two and a half years.
The Société des Bains de Mer (SBM) secured almost €200 million more in turnover last financial year, signalling strong recovery for Monaco’s largest company and the region’s most important employer.
Société des Bains de Mer has confirmed the sale of its 47% stake in Betclic Everest Group, a French online gambling company, in a deal that garners €710 million profit for Monaco’s largest company.
The UAE is set to overtake the US in attracting the largest number of emigrating millionaires in 2022, according to a new report, though Monaco still remains a very attractive option.
Monaco has posted Lorenzo Ravano as new Ambassador to represent the country in Berlin. He was welcomed in the German capital where he met with the German President.
The AS Monaco football club boutique and jersey provider Kappa have become members of the government’s environmental label, a move that comes with some serious commitments to the environment.
0
Sign up to our FREE Newsletter
By signing up, you agree to receive daily emails from Monaco Life. We will not, in any circumstances, share your personal information with other individuals or organisations without your permission, including public organisations, corporations or individuals, except when applicable by law. We do not sell, communicate or divulge your information to any mailing lists.
Government representatives, business leaders and officials from free and special economic zone nations around the world have come together for the first Su-MEET conference in Monaco.
Held in the Crystal Room at the Fairmont Hotel, the two day event organised by the World Federation of Free and Special Economic Zones (FEMOZA) with the full cooperation of the UN Industrial Development Organisation (UNIDO) met from 13th to 15th November and brought together developers from Special Economic Zones (SEZ) and investors for meetings, networking opportunities and round table discussions under the theme 'Past, Present & Future of Free and Special Economic Zones'.
The Su-MEET summit focused heavily on the One Belt One Road policy initiated by Chinese President Xi Jinping, which encourages the use of green working environments, digital transition policies and flexible labour standards that accommodate a simplified transfer of technology.
Talks also highlighted successful cities, new activities to the zones, real estate opportunities, outsourcing, manufacturing procedures and banking services. Additionally, it was a forum for asking and answering questions and bridging gaps in knowledge with regard to how things work in these special zones.
FEMOZA President Juan Torres, a Barcelona native, has been an advisor on international trade, free zones and export processing zones since 1986. His underlying desire to create this event was to bring together professionals from the Free and Special Zones to formally sign agreements in a single place. He looked to Monaco as a good fit due to its position as a financial centre and its special financial status.
A Free and Special Economic Zone is an area within the borders of a country that adhere to their own set of business and trade laws, differing from the rest of their country. The goals of this type of set up is to increase the trade balance and investment, create jobs and streamline administration. Currently, there are upward of 1,800 of these areas in existence.
Incentives are given to encourage companies to enter these zone agreements such as special taxation, trade, customs and quota benefits, as well as different regulations pertaining to labour.
[caption id="attachment_17814" align="alignnone" width="1280"] Hugh Wade-Jones with business partner Islay Robinson[/caption]
On Wednesday, June 7, Enness Financial Services hosted a summer soirée at Thirty Nine that celebrated both the company’s ten-year anniversary and the recent launch of their office in Monaco.
“I founded Enness with my business partner Islay Robinson coming up to ten years ago, in August 2007,” Mr Wade-Jones told Monaco Life, “the same week that Northern Rock started to crash in the UK. Great timing!”
Enness arrange mortgages across Europe, including Monaco and the South of France, and also in the Caribbean. They will be opening a fourth office this September in Dubai, as they have a high number of Middle East clients.
[caption id="attachment_17813" align="alignnone" width="1280"] Hugh Wade-Jones, Richard Moir, and Beverly and Brian Holt, and Laurent Natta, Executive Director, Relationship Manager, Julius Baer Wealth Management Monaco[/caption]
And while Monaco may be a glamorous location, Mr Wade-Jones, in a brief thank you speech to the 120 attendees, said it wasn’t always so for the company. “In the beginning, we had one employee, and Islay and I would take turns every month paying her from advances on our credit card.”
Today Enness has two offices in London, in Mayfair and Hampstead, with a team of 70 people.
“In the early days we’d get a dozen clients a month. This past February, we had 1019 inquiries for a value of £1.251 billion,” he added.
Enness is a mortgage brokers for HNWIs and those with complex lending situations. Despite “the rather rocky start”, Enness are now considered the world’s leading broker for HNWI mortgages.
“Property and therefore mortgages is such a big thing in Monaco that we thought it was a natural place to have our European base, so we opened an office in Fontvielle,” Mr Wade-Jones, who will soon move to the Principality with his Brazilian wife and two-year-old, explained.