A massive luxury yacht which had more than £160 million worth of cocaine seized onboard is going up for auction in Wales. The MY Kahu 120ft superyacht is set to go up for auction in Newport next week, months after it was seized off the coast of Plymouth with around 2,000kg of cocaine on board in a major organised crime probe.
The UK National Crime Agency has instructed Wilsons Auctions to manage the sale of the vessel, which will be sold unreserved meaning it will go to the highest bidder of the auction. Currently berthed at Torquay Marina in England, MY Kahu was built in 1979 for the Royal New Zealand Navy and was converted in 2010 into a pleasure craft. It has since travelled the globe including making multiple transpacific and transatlantic voyages.
The vessel was intercepted heading for the Caribbean in international waters by the National Crime Agency, UK Border Force and Australian Federal Police (AFP) officers in September 2021 with the help of intelligence from Operation Ironside, a three-year covert AFP-led investigation into organised crime syndicates.
Read more: Frozen in time pub that's been in same family for a century is up for sale
Featuring a large main salon, fully equipped galley and five staterooms for guests, MY Kahu also benefits from additional accommodation and space for four crew members. An open day for viewings will be held on Wednesday, April 20 by appointment only, with viewing highly recommended to all potential bidders.
Wilsons Auctions’ government contracts manager Mark Woods said: "We are delighted to manage the sale of this high-profile asset. It is reported that around £160m worth of cocaine was found on board MY Kahu and that is why the vessel is now being offered for sale by auction.”
“We are proud to facilitate auctions on behalf of our government and law enforcement agency clients. We play an important role in realising a large quantity of assets on behalf of these clients and in recent years, these auctions have seen us responsible in returning £130 million back into the public purse.
“The online element of the auction is extremely convenient for bidders around the world to register and get involved. This will be an exciting one to watch.” he added. Viewing appointments will be available to book via contacting Mark Woods on 02890 342626 or emailing markwoods@wilsonsauctions.com.
