The Herald reports that packing magnate Michael Smurfit is selling his luxury yacht for €16.5m after buying it eight years ago for more than €40m.

Fifty metres in length and containing six luxury cabins, the Lady Ann Magee is capable of accommodating 12 guests.

A jacuzzi, a swimming pool and an en-suite sauna are among the features of the 12-crew boat.



For the past number of years, the yacht has been available to charter for €200,000 a week.

Rod Stewart hired the yacht after his wedding to Penny Lancaster in 2007.