Bulgaria is selling its state superyacht for a song!

Bulgaria is selling its state superyacht – and it could be yours for the same price as a new 40ft sportscruiser.

The boat,Balkan, does need some work, and itison the hard in the Bulgarian naval base of Atia, but for a measly £233,000, you could own all 90ft of it.

The boat has been put out to tender by Bulgaria’s Ministry of State Administration and Administrative Reform, which will start accepting bids onBalkanfrom 10am on 14 March.

The initial bidding price has been set at 680,000 Leva, a touch over £233,000.

Interestingly for a boat of its size,Balkan’shull is constructed from wood. Worringly, the Bulgarian Government said: “The joining parts and the other metal constructions are made of non-corrosive metals and are practically sea-water resistant.”

She was built in 1981 in Italy, under the supervision of Lloyd’s Register of Shipping and used by Todor Zhivkov, who was chairman of the State Council from 1971 to 1989. Recently, though, the boat has fallen on hard times. A Government spokeswoman told MBM: “The Government is not using the boat now. We think it would be better maintained in the hands of a professional yacht owner.”

If you want to take a look atBalkan, the Bulgarian Government is inviting inspections, and applications for participation in the tender can be made up until 13 March.

For more information, get in touch with Natalia Dimitrova at natalia.dimitrova@mdaar.government.bg

BalkanFactfile:

LOA: 27.6m
Breadth: 6.8m
Draught: 1.8m
Gross Tonnage: 113
Engines: 3 675hp diesels
Power output: 2250hp

For a few more pics ofBalkan, visit MBM’s Flickr photo site .