British yard Fairline Yachts has announced its intention to begin building larger yachts after acquiring the Hythe coastal complex in Hampshire. The five-acre site was left vacant after its previous incumbents, Green Marine, went into liquidation in October 2017.
The complex, which covers an area of 20,000 square metres, is scheduled to open in mid-2018 and will be used to build models over 18.29 metres in length. The construction of models under 18 metres will continue at Fairline Yacht’s current base in Oundle, Northamptonshire.
Russell Currie, managing director of Fairline Yachts, explained, “As the global yachting market evolves, clients from across the world are increasingly demanding larger yachts than we’ve been able to create. Our new site will boast state-of-the-art facilities, giving us room to expand and create bigger boats whilst making the most of the existing boatbuilding skills in the location.
“By increasing our manufacturing capabilities across both Northamptonshire and Southampton, we are future-proofing Fairline Yachts and retaining our commitment of investing in British boatbuilding.”
Once completed, the site’s facilities will be fully equipped for testing, commissioning and handover, with 18,000 square metres of undercover manufacturing space. The yard estimates the expansion will bring 200 jobs to the local area.
Fairline had run into financial difficulties in late 2015, which led to the business entering administration, but Russian investors later revived the yard and introduced new business. In the past year, it has teamed up with Italian designer Alberto Mancini and Dutch naval architecture studio Vripack in an attempt to inject some flair into its existing Targa and Squadron ranges.
Green Marine vacated the Hythe complex after going into voluntary liquidation at the beginning of October when a “significant” order for a superyacht fell through, resulting in the loss of 50 jobs.
For more information, visit Fairline Yachts.