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Norfolk boat builder Oyster completes first yacht under new leadership

PUBLISHED: 11:51 12 July 2018 | UPDATED: 11:51 12 July 2018

An Oyster 575 yacht, named Marta III. It is the first vessel to be completed by Oyster Yachts under its new leadership, who rescued the company out of administration. Picture: Oyster Yachts

An Oyster 575 yacht, named Marta III. It is the first vessel to be completed by Oyster Yachts under its new leadership, who rescued the company out of administration. Picture: Oyster Yachts

Oyster Yachts

A Norfolk boat builder which was on the brink six months ago has completed its first build under new ownership.

Oyster Yachts has completed an Oyster 575, ordered under the previous management, which was left unfinished after the company went into administration in February.

Under its new leadership, the firm has agreed contracts to complete almost all of the orders made with the previous company. Some 14 vessels are now being worked on at its sites in Hoveton and Southampton, with the 575 being the first to reach completion.

The vessel, designed for family sailing, has also undergone safety testing and four weeks of sea trials.

An official champagne launch ceremony took place in Ipswich on Thursday to mark the occasion.

Oyster Yachts chief executive Richard Hadida said the completion of the 575 was a “key milestone” in the firm’s growth. “With the completion of our first yacht, I am proud to say Oyster is firmly back in business,” he said.

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