Duncan Bannatyne invests in new £75,000 speedboat for UK hideaway

The entrepreneur who has become increasingly fond of breaks in the Lake District – announced his latest investment on Twitter – a £75,000 speedboat

Coming days just after it was announced that the Scottish entrepreneur had final agreed a £92m deal with M&G Investments for the sale and leaseback of the ground leases of 39 Bannatyne’s Health Clubs which will help clear his company’s £120m loans, which were being repaid at a rate of £10m a year, with the collapsed Anglo Irish Bank.

The 20-foot long boat has seating for 11 people and is particularly good for water skiing and wakeboarding.

Last year Mr Bannatyne – who was once said to be worth £480m – revealed that he has cut his own spending to just £500-a-week.

The entrepreneur, who was once the richest of the Dragons, said he was all but ruined by the settlement with his 47-year-old ex-wife Joanne, which reportedly cost the Clydesdale born business man £345 million.