Another price reduction on superyacht Penguin at Northrop and Johnson

6 January 2011 • Written by Malcolm MacLean

The asking price of the 55.1m motor yacht conversion project Penguin continues to fall as her listing agent, Andrew Cosgreave at Northrop and Johnson sends news of another price drop.

Conversion of this superyacht started at Peters Schiffbau and was halted when the owner bought a larger yacht to start his travels, but can still be completed in 14 months.

So far over €20 million has been spent to date on this project and Penguin comes with copious amounts of equipment in mint condition and internal volumes can be increased exponentially with a little redesign work. For anyone contemplating a refit on his own yacht, the new price includes €11 million of top of the range equipment currently stored in crates. Brand names include Quantum, Hamann, Cramm, Steen, Imtech, Freeman and Van der Velden.

Formerly listed at €3.85 million, Penguin is now asking €3.5 million.

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