In 2025, Palm Beach Motor Yachts will celebrate 30 years of crafting some of the world’s most distinctive, luxurious, and efficient Downeast-style motor yachts. What began in a tiny 100m² facility in Palm Beach, Australia, has expanded into a global shipbuilding operation covering over 110,000m², with 1,200 staff and a string of acclaimed models.
Founded by professional sailor Mark Richards in 1995, Palm Beach Motor Yachts was born out of a deep understanding of the sea. Richards grew up sailing Manly Juniors in Newport, New South Wales, and by thirteen was working at the Royal Motor Yacht Club, mastering boat handling. At sixteen, he began a boatbuilding apprenticeship at Sydney Technical College while working at Martin Lewis Shipwrights in Pittwater. His racing career launched when he joined Peter Gilmour’s crew for the 1986 Columbus Cup.
Encouraged by his father to “invest in himself,” Richards established Palm Beach Motor Yachts. Initially focused on sailing yachts, the company launched its first motor yacht, the Palm Beach 38, in 1999. Designed by a yachtsman for yachtsmen, the PB38 combined the elegance of classic sailing lines with the performance and comfort of a motor yacht. It set the tone for everything Palm Beach would become known for: lightweight construction, exquisite craftsmanship, and exceptional handling.\\\\\\\\\\\\\\\\\\\\\\\\\\
The PB38 was followed by the PB32 and the highly successful PB50, which won “Best New Power Boat” at the 2010 Newport International Boat Show. The PB55 followed with similar success in 2011. Growth was rapid, forcing moves to larger facilities down the coast and eventually to a 600m² production space, before expanding further.
In 2015, Grand Banks Yachts Limited acquired Palm Beach Motor Yachts, a natural fit for both brands. Richards stayed on as CEO and chief designer, becoming a major shareholder in Grand Banks to ensure the original Palm Beach DNA remained intact. This partnership allowed production to expand into Grand Banks’ Malaysian facilities, boosting global reach without compromising quality.
Looking ahead to 2025, Palm Beach isn’t just reflecting on three decades of achievement—it’s launching a new flagship. The Palm Beach 107 is the latest evolution of the brand. Despite its superyacht size, Richards calls it “a very simple boat” in spirit, designed to maximise volume while remaining under the 110-foot regulatory threshold. It requires only a small crew, maintaining the brand’s core focus on owner-operator usability.
The PB107 will be powered by four 1000hp Volvo Penta D13 engines, typically cruising on two and engaging all four only when needed. Built with Palm Beach’s proprietary V-Warp® Technology, the 107 continues the company’s obsession with lightweight, efficient construction. Expected to displace under 70 metric tonnes, it will deliver a top speed of 35 knots—exceptional performance for its class.
Palm Beach is also expanding its facilities. A new 35,000m² factory has been added, dedicated to advancing resin-infusion processes for hulls and parts. Smaller models will be built in the new facility, while larger yachts like the PB85 and PB107 will continue in the original, larger halls.
V-Warp® Technology, developed under Richards’ leadership, reflects his racing and shipbuilding background. Using a warped, semi-displacement hull and extensive carbon fibre construction, Palm Beach yachts achieve lighter weights, higher speeds, and better fuel efficiency without sacrificing strength. Hulls are resin-infused E-Glass composites, while superstructures and decks use carbon fibre, achieving a quieter ride and exceptional strength-to-weight ratios.
This focus on performance extends across the fleet. Boats like the Palm Beach GT50 and GT60 achieve cruising speeds over 30 knots with outstanding fuel economy. The Palm Beach 85, for example, has a displacement of just 48 metric tonnes—lighter than many 60-foot yachts—while maintaining luxury and comfort.
Palm Beach’s factory-direct sales model also sets it apart. By handling sales and service directly through dedicated representatives, particularly in Australia and the United States, Palm Beach ensures a highly personalised experience for each owner. Most yachts are built to order, allowing for full customisation, with stock boats only occasionally available.
Today, Palm Beach offers 34 model variations across its Classic and GT ranges. Production is split between Australia and Malaysia, depending on the model. Global recognition is strong, with Palm Beach yachts seen in the United States, Europe, and Asia-Pacific. The Sanctuary Cove International Boat Show remains a key event for the brand, and 2025’s SCIBS will feature the PB50 and PB65—two standout models that capture the brand’s spirit of performance and elegance.
Production remains tightly focused on quality, not quantity. Palm Beach and Grand Banks together produce around 28 to 30 yachts per year. Larger builds, like the PB85 and PB107, can take up to 18 months to complete, reflecting the company’s uncompromising attention to detail.
Mark Richards sums up the company’s momentum simply: “This is going to be a big year for us. The biggest year in my business career, and it’s really exciting.”
Thirty years after its founding, Palm Beach Motor Yachts continues to set the standard for elegance, efficiency, and innovation in luxury motor yachts. With new models, cutting-edge technologies, and expanded facilities, Palm Beach remains committed to building the ultimate yachtsman’s motor yacht—one that only true seafarers could design.
