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OYSTER YACHTS LIMITED

Company number 11260018

• Company Overview for OYSTER YACHTS LIMITED (11260018)
• Filing history for OYSTER YACHTS LIMITED (11260018)
• People for OYSTER YACHTS LIMITED (11260018)
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Next accounts made up to 31 March 2023 due by 31 March 2024

Last accounts made up to 31 March 2022

Confirmation statement

Next statement date 13 November 2024 due by 27 November 2024

Last statement dated 13 November 2023

Nature of business (SIC)

• 30120 - Building of pleasure and sporting boats
• 33150 - Repair and maintenance of ships and boats

Previous company names

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On board with Richard Hadida, superyacht owner and CEO of Oyster Yachts

Richard Hadida , the owner of Oyster Yachts , tells David Edwards why being on board a battleship with his hero Horatio Nelson is the ultimate dream...

His serious, grown-up ambition was always to follow his father and become an entrepreneur, to work for himself and make his own millions. But what Richard Hadida really wanted to do as a child, and what he still hankers after even now, at the age of 53, sitting in his handsome home with the trappings of his life and his success all around him, is to be at sea on a 19th-century battleship, experiencing the kind of swashbuckling adventures that defined his hero, Horatio Nelson. He has succeeded spectacularly with the former, having created a £2 billion-plus tech company, and while the latter is rather harder to pull off, Hadida is keeping that dream alive by devoting his life to sailing while honouring Britain’s most revered nautical figure.

Hadida’s passions are distilled into the elegant drawing room of his home in rural Berkshire, 50 or so kilometres north-west of London. On one wall hangs an epic scene from the opening of the Battle of Trafalgar – HMS Royal Sovereign , carrying Nelson’s deputy, Vice Admiral Collingwood, has broken the enemy line and is raking the Spanish flagship Santa Ana . Hadida describes the action with awe and wonder, and a great deal of knowledgeable detail.

On another wall is a large piece of the White Ensign that flew from HMS Victory on that October day in 1805, with the holes shot through it serving as a reminder of the fate that befell Admiral Lord Nelson. “He was buried in it,” Hadida says, “but at the last minute, as his most trusted guys were lowering his coffin into the tomb in St Paul’s Cathedral, they suddenly ripped this flag to pieces and everyone took a piece. The biggest single section known in the world is this one here.” Between them is a glass cabinet, containing a model of a very modern sailing yacht. It’s the Oyster 1225, the new 37.45 metre flagship hull of the British yard that Hadida bought last year. The successful entrepreneur has been able to charter an Oyster yacht, then buy an Oyster yacht and finally, when finding that the company had gone into administration last year, to take over Oyster Yachts itself. Again, the reverence with which Hadida talks about the hull – the elegance, the lines – is clear and touching. “It’s going to be magnificent,” he says.

Now that he’s “made a few quid”, as he likes to describe his situation, Hadida can indulge his loves. First comes his hero Nelson. “My dad, God rest his soul because he died last year, had a passion for Nelson. With me it just grew and grew because he is my ultimate hero.”

What was it about the English admiral that so captured his imagination? “It’s the whole thing: his tactics; he was a bit maverick, a bit naughty; he threw away the rule book, rewrote the rules. I suppose the story is also enhanced by the fact that he did die during his greatest achievement, but only after he knew he’d won, which is pretty cool.”

He bought the flag at auction at Sotheby’s in 2018 for £297,000. Then he bought the watch Nelson had on him when he died for £322,000, and the decanters and dinner service from Victory . “I bought all these different things – and I’ve also got a lock of his hair – so I’ve got one of the best Nelson collections in the world today, which I see myself as a custodian of.

To that end, Hadida arranged a special event just after Trafalgar Day last year when he co-hosted a dinner on the gun deck of HMS Victory , bringing together friends, Oyster owners and in particular the Nelson artefacts he had recently acquired. “After Victory came back to Britain and Nelson was taken off, these things all went their separate ways. So I reunited the flag with the watch and the decanters and everyone had a tot of rum from his decanters and had a little ‘cheers’ and it was a very special moment. There was an admiral from the Navy there who co-hosted the evening with me. And he and I shared these big rum glasses that had Nelson’s initials on them. He was visibly shaking because, of course, Nelson is history.”

Nelson is present in other ways in the Hadida family. His elder son James has Horatio as a middle name, and younger son Will has Thomas for one of his, after Thomas Hardy, Victory’s captain. And that lock of Nelson’s hair is in a glass pendant, which is never very far from Hadida’s side or neck. “I know it sounds odd but in important moments I can feel, I don’t know… maybe it brings me closer to my hero when I hold it. If something’s very important, it just comes with me. I’m not superstitious, but I draw some comfort from it.”

He might have wished he’d had that pendant when he was 17. That “important moment” came while he was at school in London doing A levels, and his father took him to a cricket match at Lord’s. “My dad was a self-made man. He left school at 14 and he became a manufacturer, making shower curtains and china and things for the bathroom. He was a member of Lord’s and he took me to this match along with his three best friends, and they’d all become millionaires in their own field. And he said, look at us, we haven’t got one O level between us and we’ve all done well.”

That heady scene had a huge effect on the young Hadida. “I was so inspired by them; they were funny and they were cool and they were successful.” So what did he do? Knuckle down to his studies – maths, physics, biology and chemistry – and set his sights on getting straight As? “I quit school the next day. I just went to the school office and said ‘I’m out.’ And I went that day. My mother went mad.”

School was out and work was in. “In my first year I did something like 18 jobs, a ridiculous amount, because I didn’t know what I wanted to do. But I knew I wanted to be an entrepreneur, that was for sure.”

A two-week filing stint at computer giant ICL was where the world of work began to make sense for him. He was soon building databases and learning to program – “just by taking the books home at night and reading them”. Hadida was taken on full-time to lead a small department charged with finding efficiencies in the company and the work inspired his first attempt at going it alone. This was pre-email and the idea was to create a paperless, digitised office. “I had this advert which had a pink roll of toilet paper and it said ‘The only paper your company will need.’ To cut a long story short, I was undercapitalised and I signed some directors’ guarantees here and there and so, by the tender age of 29, I was made bankrupt. It was a good idea but it was before its time. I was wrong; I put my hands up.”

Undeterred, and with the internet dawning, Hadida went back to the entrepreneurial drawing board in the mid-1990s. “I tried out some different businesses with some internet ideas behind them. I had the idea of filming a roulette wheel, and people can then bet on a real roulette table rather than on a simulated, CGI-style thing. I set that up as a B2B business and we soon got William Hill to come as a customer and then one by one we sold to nearly every big customer in Europe.” The company he started, Evolution Gaming, now employs 5,000 staff and is worth more than £2 billion. “It’s a fantastic business with 45 per cent growth year on year, and we’ve managed that growth for the last 12 years pretty much.”

While his father passed on Nelson and that entrepreneurial flair, Hadida’s mother, with whom he lived along with his grandmother after his parents separated when he was two, introduced him to another life-long love: the Caribbean . “My mum took me a couple of times to Jamaica and St Lucia . I remember being absolutely amazed by it – everything was just super-relaxed and cool and laid-back.”

Childhood sailing came courtesy of family holidays spent on dinghies on the Norfolk Broads, but boats didn’t reappear in Hadida’s life until he was in his early thirties. He had the idea of chartering a boat so that he could sail to his sister’s wedding on Lesbos, Greece. A three-day course on the Solent gained him a day skipper’s licence and then there he was, taking charge of a bareboat Beneteau in Piraeus. “It was one of the most magical nights of my life,” he recalls. “Out there, ships would go by, beautiful stars, and we just sailed on, and then suddenly the dawn broke and there she was, and we just sailed straight in, fantastic. That was it. I knew that I had discovered my love.”

Boats were put on hold again after he married Jenny, an Englishwoman he met in the Caribbean, and the two boys came along. “My wife said, ‘We can’t go on boats until the youngest one can swim unaided.’ Ever since that day came, we’ve been going to the Caribbean.”

When that day did come there was only one yacht on his mind. Jenny’s stepfather used to visit the London Boat Show every year, primarily to enjoy a glass of champagne at the Oyster stand while being shown the latest yacht. “I asked him why he did that,” Hadida says, “and he said, well, because they’re the best yachts in the world.”

The first Oyster Hadida set foot on was the 17 metre Amanzi that he chartered for his young family, and he was bowled over. “Up to that point, I’d only been on a Beneteau. So it was like, wow! I went downstairs and the woodwork and the whole thing… it blew my mind. And that was it. From that moment onwards, I knew: I’m Oyster or nothing.”

His friendship with Eddie Jordan , which began when the pair met at the Dubois Cup, led to many holidays on board Lush , Jordan’s 27 metre Oyster 885. They shared the yacht for a while and now Hadida owns it outright. “The 885 is the best superyacht in the world,” he insists. “It is. You just have to believe me. I love her, my kids love her and we’ve got so many memories on this boat. She’s being refitted this winter and when she comes out of the yard next year, I don’t think you’ll be able to tell her against a new one. It’s another good testimony for why to buy an Oyster; it’s a boat for life if you want it to be.”

So that explains why, when in February last year he read that Oyster Yachts had gone into administration, Hadida had such a visceral reaction. “I spat my tea out, I couldn’t believe it,” he said. He was on holiday with Jordan at the time. “I said to Eddie, let’s buy it. So we got the investment memorandum, he ran the numbers and said, ‘Richard, I think we should bow out of this.’ But I suddenly thought, you know, I can do this. Building this business back to what it was and what it should be, that’s my calling. Evolution Gaming was my idea, my brainchild, my baby. This is different. I’ve bought a business that’s got 1,200 customers with 45 years of history. It’s incredibly refreshing. I mean, it’s inspirational. I do sail a lot and I do feel I know what I want, so it’s trying to get that across into the boats and into the building. It’s an enormous challenge, but I’m loving it. We sold two boats in the past week and what a great feeling that is.”

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Yachting Monthly

• Digital edition

Oyster 495: the dream boat that sets the bar

• Sam Fortescue
• January 2, 2023

Oyster have long set the standard for luxurious blue-water cruisers, and the Oyster 495 is the new baby in the range. Even if you’re not in the market for one, it’s nice to dream, says Sam Fortescue

Product Overview

• High build quality
• Very stable
• Modern hull shape
• Flexible sail plan
• Accessible technical spaces
• Lots of deck stowage
• Numerous interior steps
• Limited clothes storage
• Captive main/jib halyard

Manufacturer:

Price as reviewed:.

Following an era which saw Oyster yachts getting progressively bigger and bigger, the iconic British boatbuilder has shifted its gaze back to the sort of boats that made it famous. And the first fruit of this welcome development is the comely Oyster 495.

The best part of £2 million all told, she is eye-wateringly expensive. So why sail her?

Well, this iconic British brand has long set the standard when it comes to offshore and ocean luxury cruising yachts, so it’s worth seeing, if only to measure other boats against.

The cockpit is deep, secure and well-sheltered. Credit: Morten Strauch

Even if you haven’t got that kind of loose change in your pocket, it’s nice to dream, isn’t it?

Freshly designed from the keel up, this is a that boat aims to combine comfort, quality build and reliable blue-water passagemaking with features found on the bigger boats.

Drawn by Humphreys Yacht Design, the Oyster 495 is the first new model since Richard Hadida bought the business in 2018.

‘She’s a go-anywhere adventure machine capable of taking her owners to the four corners of the globe,’ says Hadida, for whom this first boat has been built with a huge array of extras.

Oyster 495: a new icon

Approaching the Tuborg Marina in Copenhagen to join ship for the overnight passage to Kiel, there was absolutely no mistaking this boat, whose glossy black carbon mast gave her away long before I spotted the trademark Oyster eyebrow.

Hull number one, which is on a promotional world tour lasting well into 2023, also has a bold turquoise vinyl hull wrap.

Solo sailing is feasible thanks to almost all controls being push-button. Credit: Morten Strauch

In line with recent thinking on hull shape , the Oyster 495 punches a plumb bow into the seas and carries much of her beam well aft – noticeably more so than previous models.

Such a hull form resists heeling and reduces the need for ballast.

The halyards make off to the mast and can be tensioned by winches, but must be moused to be lowered. Credit: Morten Strauch

‘With the twin rudder configuration that we have adopted as standard on all our Oyster designs since the 885 model, it provides us with more flexibility to carry a higher proportion of form stability by increasing the power of the aft hull sections,’ says naval architect Tom Humphreys.

‘This is still introduced sensitively to ensure motions and control in waves is not compromised.’

Generous accommodation

Together with the slightly higher beam and topsides compared to the 46, it creates a lot of volume below for the master cabin and extra headroom in the fo’c’sle.

As is typical for Oyster, the mast is keel-stepped. It intrudes slightly into the corridor forward, but does a better job of transferring rig forces to the keel and reduces chainplate loading.

Our test boat had the full carbon mast option from Selden with in-mast furling, and in some ways, this is a bit of an oxymoron.

Headsail furling is electric on the Oyster 495, with a double bow roller in the integral bow sprit. Credit: Morten Strauch

The carbon mast adds nearly £100,000 to the pricetag for a big weight saving of some 200kg, but the mandrel and furling gear puts some of that weight back in.

On the other hand, it reduces the sail area by 10 per cent and prohibits the use of performance-enhancing battens.

‘You get more sailing done this way,’ explains sales director Richard Gibson, and that is a key point in a blue-water yacht.

The sail plan is designed with an efficient 54m2 jib, which can be set up for self-tacking, or remain on tracks set well inboard for good tight angles upwind.

Then there’s an attractive moulded-in bowsprit which carries two tack points for asymmetric or reaching sails, while beefy padeyes along the raised bulwarks give you heaps of options for fixing the blocks needed to run sheets and guys.

A large sprayhood, and an optional bimini or cockpit tent offer good protection from the elements. Credit: Morten Strauch

As well as push-button controls for the mast furling and outhaul, this test boat has the optional hydraulic mainsail trim.

Effectively reversing the mainsheet to be trimmed in the boom and not on deck, this clever kit was first developed by Wally superyachts.

The mainsheet is spliced to a strop on the deck behind the helm and a ram hidden in the boom does the trimming, removing trailing ropes in the cockpit.

Just the jib sheets come back to the cockpit, because all the halyards are designed to be handled at the mast.

The mainsheet control is hydraulic and hidden inside the boom. Credit: Richard Langdon

It keeps the cockpit remarkably tidy, but requires you to spend time crouched at the foot of the mast to launch or douse a reaching or running sail.

Similarly, the jib and main halyards terminate with loops over a mast fitting which is tensioned then pegged off.

As they are cut to this length with the sails hoisted, you can’t lower them in a hurry.

You need to unload the hook using a winch, then tie on the provided mousing line. Tidy, yes; practical, no.

Hunting for wind

Now, we had lamentably low wind during our test sail, and the delivery team were intent on reaching Kiel by daybreak, so we spent much of our 24 hours aboard with the motor running and the sails furled.

And here, it must be said that the boat performs very well.

At an optimal 2,300rpm, the efficient Yanmar 110hp shoved us along at 8 knots through oily calm seas, consuming 8.7 litres of diesel per hour.

That’s roughly 1 litre per nautical mile, or nearly 4 days and nights of motoring on a full tank of 800 litres.

Excellent deck stowage is located aft of the single-point mainsheet attachment. Credit: Morten Strauch

And though the engine sits in the traditional spot beneath the companionway, with the chart table to starboard and the galley to port, it is very well muffled.

Crucially for the workhorse on a blue-water cruising boat, access is possible via hatches on all four sides of the engine block, while the compartment itself offers plenty of room for additional equipment.

During two passages of moderate wind, the skipper obligingly let us set the main and jib – a slow but simple question of pressing buttons, with jib sheet winches within easy reach of the helm on the coaming.

She remained light and responsive on the helm and at one point, we clocked up a decent 5.1 knots of boat speed, fetching easily into 8 knots AWS.

Oyster is proud of its cockpit table, which contains a drinks fridge. Credit: Morten Strauch

Conditions didn’t permit much more, but polars indicate that she will perform up to about 32º true wind angle, quickly accelerating to 7 knots upwind in a 10-knot breeze.

Broad reaching with the 197 m² asymmetric, she can manage 11 knots in a blow.

Despite being resin-infused, the boat has a relatively heavy glassfibre construction and weighs in at 21 tonnes without fuel, water, food, gear or crew.

The saloon is large and extremely light thanks to the trademark deck saloon windows

Her sail area to displacement ratio of 16.1 is that of a solid offshore cruiser, while the waterline length to displacement ratio of 203 promises a little more power.

It gives her a very solid feel on the water, like her bigger siblings, but limits performance.

‘You want the boat to be the destination in a way,’ says Tom Humphreys. And like all Oysters, the 495 is just that.

The trademark raised centre cockpit means plenty of aft deck for lounging, fishing or blowing up tenders, while the seating, with its central fold-up table, is deep and well protected.

The optional cockpit tent and a bimini would be a boon for warm water or Baltic sailing .

A proper forward facing chart table is essential for ocean navigation and as a work station

Deck, rigging and underwater lighting may be a little showy for some, but do create real atmosphere. The heart of the boat, though, is its large saloon area.

Deep upholstery on either side provides space to put your feet up and relax, gather with friends, sit down for a meal around the eight-person table or even watch a movie on the pop-up TV.

Luxury styling in the cabins hasn’t made Oyster forget practicalities such as lee cloths and handholds.

The space communicates nicely with a very well-found galley to port and the chart table to starboard, and there are handrails to help you make your way everywhere.

The finish is Oyster to the core and styling has been revitalised with a new superyacht inspired look that is all geometric relief, pale wood and Nordic lamps.

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One step too far

If I had one criticism of this otherwise spotless interior, it would be the number of little level changes that connect the spaces.

We counted 12 steps in total, besides the companionway.

While they maximise the volume, they also present a tripping risk.

The hull form includes a plumb bow to stretch waterline length, and carries its beam well aft, controlled by twin rudders. Credit: Brian Carlin

One of the reasons for these steps is clear: the saloon sole is raised somewhat in order to create space for the tankage beneath, as well as enjoy the views from the deckhouse windows.

And there, at least, the benefit is overwhelming, because you can easily inspect each tank, as well as the batteries and other equipment.

Custom joinery adapts the galley storage to your crockery and glassware.

The galley of the Oyster 495 is well laid out for use at sea

Standard is a four-burner hob and oven from GN Espace, side opening boat fridge plus an optional freezer and microwave.

Another highlight is the huge chart table.

There are those that scoff at the waste of space in a digital age, but anyone undertaking blue-water cruising knows the value of this space.

The saloon deckhouse leaves the foredeck clear for sail handling, lounging, or dinghy stowage. Credit: Morten Strauch

B&G instruments are the standard choice. The main interfaces are touchscreen displays that drive C-Zone digital switching , but key kit still features two-pole manual switches.

‘We wanted to introduce tech into the boat, but we had to make sure that if something breaks down mid-ocean you could fix it,’ explains Gibson.

Down steps aft, the owner’s cabin is clearly inspired by the big Oysters.

The engine compartment is well insulated and has ample space for a genset and other systems. Credit: Morten Strauch

The island bed measures 140cm across and features an elaborate fabric headboard that shows off the new styling to maximum effect.

There’s the option of a huge TV on the forward bulkhead, plus a vanity table and a sofa.

A luxurious ensuite heads features a separate shower, reached – you’ve guessed it – down another step.

The second cabin lies in the fo’c’sle and it runs to another good sized semi-island bed.

The boat remains a medium-heavy displacement cruiser, but the new hull shape adds extra performance. Credit: Richard Langdon

Having shared this space overnight with the photographer, I can attest to the comfort, and the natural light.

There is a third cabin to starboard with a pair of useful bunks, sharing the forward heads and shower. Finish quality is, as you’d expect, excellent.

In the end, Oyster has been ambitious in trying to squeeze in the features of its larger boats onto this design.

But it has been a successful project and, even as we hove in sight of Kiel’s green approaches, it was all too easy to imagine settling in and heeding the call of the high seas.

Verdict on the Oyster 495

New focus from Oyster and some modern hull design courtesy of Humphreys have given the Oyster 495 a modest performance boost and some welcome contemporary features.

However, she remains very true to Oyster’s keystone values of safety, seaworthiness and comfort. And in that sense, at least, she is not a radical boat.

Her layout, too, would be familiar to an Oyster 49 owner from 2001.

The Oyster 495 is built for serious long-distance cruising. Credit: Brian Carlin

There’s plenty of technology here – digital switching, plotters galore, good AV options and hydraulic sail controls. But it is not dressed up to be flashy.

The boat is solid, well-built and beautifully finished. She is easy to handle, capable and well organised.

Our only misgivings were about the less-than-easy halyard handling, and reliance on hydraulics for sail trim.

It’s all very neat, but is that really the priority for blue-water cruising?

As to whether she represents the world’s best 50ft blue-water yacht, time will tell, but with 16 boats sold off plan, some buyers clearly think so.

Would the Oyster 495 suit you and your crew?

Oysters are the stuff of dreams, and the new 495 is no exception.

If money were no object, and it needs not to be for this boat (our tricked-out test boat cost £1.6m ex-VAT or £1.92m inc VAT), then this is a vessel custom made to fulfil blue-water cruising hopes.

She would best suit a family with a steady flow of visiting friends, or a mix of older and younger kids.

The integral bowsprit on the Oyster 495 facilitates the setting of various offwind sails to maintain passage speeds. Credit: Brian Carlin

The disparity between the aft and fo’c’sle cabins rules out a project involving two couples.

She would also work well with a couple and some paid hands, although the ease of sail control and trim makes her perfectly viable for sailing solo or two-up.

There’s no reason that you couldn’t take the 495 up Britain’s rivers and estuaries, with her 2.28m draught and option for a 1.83m shoal keel.

But a boat of this capability demands to cover miles.

Sail round Britain , up to Svalbard , round the Mediterranean or around the world – the boat could undoubtedly handle it all with aplomb – but make sure you’re stretching her legs.

Solid, well-built and beautifully finished

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