Former RNZ Navy super yacht on sale after $300m cocaine bust

A former RNZ Navy yacht that was busted attempting to smuggle two tonnes of cocaine into the UK is now up for auction, with no reserve.

The MY Kahu was originally built in Whangārei in 1979 as a Moa-class patrol boat for the Navy and was originally named HMNZS Manawanui.

She was later modified as a dive tender before being converted as a long-range expedition yacht by Fitzroy Yachts in New Plymouth in 2012.

One of those expeditions ended in ignominy in September 2021 when police boarded the Kahu 80 miles off the UK coast and found two tonnes of cocaine.

UK police were tipped to Kahu's illicit cargo by the Australian Federal Police as part of their massive Operation Ironside bust, which used an encrypted network to ensnare criminals around the world, including in New Zealand.

Speaking in September 2011, Matt Horne of the British National Crime Agency said: "This is a massive haul of cocaine with an estimated street value of around £160m [$300m]."

"Organised crime groups are motivated by money. The deprivation of these drugs will smash a hole in the OCG's plans and ability to operate.

"Also, the arrests of the men transporting the drugs means the crime group has lost trusted offenders who would have been key to their operation."

The cocaine found onboard. Photo / National Crime Agency

Now the 120ft yacht is being sold in the UK and is up for auction with no reserve,

Super Yacht News has previously valued the vessel at $2.57m.

Belfast auctioneers Wilsons are managing the online auction, for which bidders will need to lodge a $1900 deposit.

The Kahu started life as a NZ Navy vessel. Photo / Wilsons Auctions

The Kahu boasts five staterooms alongside accommodation for four crew and can travel 12,000km when its tanks are full.

Government contracts manager for Wilsons Auctions told the Belfast Telegraph: "We are delighted to manage the sale of this high-profile asset. It is reported that around £160m worth of cocaine was found on board MY Kahu and that is why the vessel is now being offered for sale by auction.

"The online element of the auction is extremely convenient for bidders around the world to register and get involved. This will be an exciting one to watch."