Ian Malouf may be a leader in the Australian waste industry, but when it comes to grabs superyachts, the man wastes no time. The stinking rich garbo (pun intended) picked up the beautiful 1994-built Lürssen yacht Coral Ocean at the 2019 Monaco Yacht Show in less than three days. It set a record as one of the fastest and largest sales at the Monaco Yacht Show. This beautiful boat, owned by Malouf’s Ahoy Club, witnessed a $37 million refit at the Astilleros de Mallorca shipyard between 2015 and 2016. The result is what we will examine in detail below:
Coral Ocean, the star of the high seas:
If yachts were turned into postcards, this gorgeous 240-foot Lürssen beauty would be placed on them permanently. One could not expect otherwise; after all, she was designed by the godfather of modern yacht design, Jon Bannenberg, who was responsible for her exterior.
Formerly known as Coral Island, the beauty came into the well-deserved spotlight thanks to Australian entrepreneur Ian Malouf. The sailing sensation made her debut at the Monaco Grand Prix in 2022 and is now available for Mediterranean charters with the Ahoy Club.
Unlike most luxury ships with a grand atrium or exceptional spa, Coral Ocean boasts an unparalleled sundeck. With a superbly executed refit, the highlight of the boat, the upper deck, became even more open and flexible with a striking glass bottom hot tub. According to Boat Internationalthis addition is due to the Four Seasons, surrounded by glass railings.
Guests can laze around all day on spacious lounge chairs, or beat the heat at the indoor bar with floor-to-ceiling retractable glass windows for the ultimate indoor-outdoor experience. Water babies can relax endlessly in the well-placed Jacuzzi with parasol and 85-inch television nearby.
There is ample space for 12 guests who are catered for in six staterooms. However, the VIP suite provides a more luxurious space with a lounge area that doubles as a cinema room or office space. If there’s one thing that can fade the charms of the VIP suite, it’s the extravagant private apartment on the owner’s deck.
The refit has nearly doubled the space with 180 degree views making this area look enchanting with not one but two skylights positioned above the super king size berth and at the entrance. The suite is complete with a private his and hers bathroom, infrared sauna, hair salon and private lounge area with an attached treatment room.
No superyacht is considered a super without a wide range of amenities, and Coral Ocean does not disappoint. In addition to an entertaining sundeck, she has the most panoramic gym overlooking the ocean.
The spa is an oasis of relaxation, complete with a steam room leading to a more energetic venue, the swim platform and beach club. Speaking about Coral Ocean to Boat International, Malouf added: “Coral Ocean has truly been transformed; she stands for luxury in every way. The ability to accommodate up to twelve guests in six beautiful staterooms remains unchanged.
However, all rooms and amenities have now been upgraded to an equal standard, making every guest on board feel like the owner. This is a unique proposition within the charter industry.” Guests aboard Coral Ocean are looked after by a crew of 22. Two Caterpillar 3516 DITA engines allow her to reach speeds of up to 17.4 knots and cruise at 16 knots.
About Ian Malouf:
There are stories of rags for riches, and there is nonsense for riches. One of those rare ones is Ian Malouf’s fascinating saga. Today, the $600 million man in 1984 painted a very different picture with a single truck and shovel in hand. The famed businessman is widely recognized as the founder and CEO of Dial A Dump Industries, a leader in the Australian waste industry. After earning a large amount of wealth through a series of dumpsters, Ian Malouf sold his entire company to Bingo Industries in 2019 for a whopping $398 million. This move earned him a place on the AFR Rich List almost immediately afterwards. Ahoy Club is the fruit of his lifelong passion for sailing that came to life in 2015. With this digital platform, he wanted to improve the charter experience for both clients and yacht owners, although it caused a lot of controversy among yacht brokers.
Now a connoisseur of finer things, Mr. Malouf hardens at his Double Bay office in Sydney and rests in his posh Woollahra home, which he rents for $12,000 weekly. In addition to Coral Ocean, the entrepreneur also owns the luxury yacht Mischief. The Ahoy Club director recently spent a $20 million weekend getaway on Palm Beach’s prominent Snapperman Beach and Sydney’s famed ANZ penthouse for a whopping $60 million, reported Boss hunting†
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