Luxury motor yacht built near Peterborough is a world beater at prestigious Cannes festival

Manufactured at Fairline’s boat yard in Oundle, the Targa 63 GTO, which carries a £1,530,000 price tag, was named as winner of the coveted best exterior design in the 50-80ft yachts category at the World Yachts Trophies.

The Targa 63 GTO is the first boat designed completely by the renown boat designer Albert Mancini, who also won designer of the year.

Judges commended Fairline, praising the quality, craftsmanship and collaborative work that went into creating the Targa 63 GTO.

The award is the icing on the cake for Fairline Yachts, which has created just two years ago from the remains of the troubled Fairline Boats, which went into administration with the loss of 380 jobs.

The company has been steadily building itself up under the watch of managing director Russell Currie and now has 300 staff as well as a partnership deal with Mr Mancini.

Mr Currie said: “This award is testament to the hard work of all the Fairline Yachts team over the last 18 months.

“The award cements our place as one of the ‘brands to beat’ in this highly competitive industry.

“We would like to thank the judges for their consideration and decision, along with every member of the Fairline team for all of their hard work, which made this colossal achievement possible.”

A company spokeswoman said: “The Targa 63 GTO features the world-class combination of Mancini’s stunning Italian styling, rigorous and proven naval architecture by renowned Dutch firm Vripack and the hand-crafted, made in Great Britain quality of Fairline’s passionate and skilled craftsmen.