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Editor in chief: Angelo Scorza
16/04/18 12:25

Privilege Yard put at auction in Civitavecchia

Hull P430 was recently sold to Malta-based Royalton, while the company is currently focusing on a sale attempt setting 9.4 million Euro starting price

Starting price for the sale of Civitavecchia-based Privilege Yard - whose complicated and troubled story, started in 2007 and continued with resounding announcements and painful developments, hasn't been sorted out yet – was set at 9.4 million Euro, although lower bids (not under 7.25 millions) might also be evaluated.

After a procedure started last August, hull P430 (130 metres in length), whose construction was never completed (rumours were that Brad Pitt could have been a potential buyer), was sold, for 13 million Euro, Malta-based Royalton Investments Limited, company operating in the yachting sector through Greek-based SSH (Sovereign Sea Hermes), handling sale and charter contracts, following the construction of newbuildings and refitting operations.

Through private agreement, the company was allowed to utilize part of the installation for six months (plus further six).

After the hull's sale, the new procedure, to be ending Thursday April 19th, only encompasses  immovable properties within the yard.

Eleven structures covering 102,200 square metres spread on an area split among three concessions, all expiring in 2039.

The whole structures, fitted for carpentry and woodwork, encompassing offices, warehouses, a show  area and cutting and shaping structures) will be sold together with three electric cabins and a photovoltaic plant.

As reported by a local network when announcing the sale of hull P430, Royalton is seemingly interested in taking the yard over, however further news will follow.


TAG : Shipyards