The superyacht version of a 'French palace' is being put up for sale for $23 million by the Barclay family

• The UK's billionaire Barclay family is looking to sell the "Lady Beatrice," a 197-foot-long superyacht.
• The family is selling the vessel to retain ownership of The Telegraph, The Times reported Thursday.
• The luxury yacht's running cost is $3 million a year, according to SuperYachtFan.com.

A billionaire family in the UK has put their superyacht up for sale.

The Barclay family, which owns The Telegraph media group, has put up the "Lady Beatrice" for sale for 22 million euros, or $23.2 million, according to a listing by its broker, Edmiston.

The Telegraph newspaper group is set to be auctioned later this month. 

Lloyds Banking Group had seized the company in June over a 1 billion pound — or $1.2 billion — debt, and the Barclay family is selling the "Lady Beatrice" yacht to retain the media group, The Times reported on Thursday.

The yacht was delivered in 1993 and named after Beatrice Cecelia Taylor, the late mother of identical twins Frederick and David Barclay. David died in 2021, while 88-year-old Frederick and his family are estimated to be worth 6.5 billion pounds, according to the UK Sunday Times Rich List published in May.

Built by Dutch shipyard Feadship, "Lady Beatrice" is a 197-foot vessel with eight cabins. It can accommodate 16 guests and 17 crew members.

One writer on autoevolution, a car and transportation site, was so impressed that they called the superyacht "the floating version of a French palace."

The yacht's main deck has two master staterooms with ensuite bathrooms, walk-in dressing rooms, and private studies. The other six cabins are all on the lower deck.

The yacht features an alfresco dining area on the lower deck, a pool, and a grand piano in its main salon.

Maintaining the yacht costs $3 million a year, according to the SuperYachtFan website, which described the vessel as a "testament to opulence, offering a visually striking environment that exudes comfort and sophistication."

The Barclay family is known to be very private. In 2020, Forbes called the Barclay brothers "the UK's most infamous reclusive billionaires."

However, a bitter divorce row between Frederick and his ex-wife thrust the yacht into the public eye. In July 2022, Hiroko, Frederick's former wife, said in court that the Barclay twin brothers had fought over their business empire on the vessel, Bloomberg reported at the time.

Edmiston and the Barclay family did not immediately respond to requests for comment from Insider outside regular business hours.