A LUXURY boat builder is set to close its New Forest yard after the firm was sold to Chinese investor.

Sunseeker has said it is “highly likely” that the site, which employs 50, in the Queensway Industrial Estate, in Stem Lane, New Milton, will shut.

This comes after Dalian Wanda bought a 92 per cent stake in Britain's biggest yacht manufacturer, which is a sponsor of Southampton FC and whose boats have featured in James Bond films, in a deal worth £320 million.

The Stem Lane yard has been operating since the mid 1980s.

The decision to wind it down came amid a “dwindling workload”.

Presently unit makes the smallest boat in the company's range, the £750,000 San Remo, But Sunseeker bosses said it hopes those working in the New Milton site will be able to find work at its headquarters in Poole.

Dalian Wanda Group chairman Wang Jianlin has vowed to keep jobs in the Dorset yard.