Investigations are ongoing into the sinking of the Feadship motor yacht, If Only, which caught fire and sank off the coast of Nice on the French Riviera

An investigation is underway into the case of a fire which ripped through a luxury motor yacht off Nice, resulting in the vessel sinking.

The 39-metre Feadship, If Only, is owned by the Italian entrepreneur, Diana Bracco.

According to the Italy’s national news agency, Ansa, the industrialist was on board the yacht at the time of the fire.

She was rescued along with 10 other family, friends and crew by the French authorities. No one was reported injured.

A fire on board a motor yacht off Nice in France

Despite efforts to put out the fire, the yacht eventually sank. Credit: You Tube

The fire took place close to a Nice beach, with holidaymakers looking on as firefighters on boats tried to put out the blaze.

Thick black smoke and flames could be seen coming from the yacht.

In total, six boats and 66 firefighters tried to put out the fire, according to the English-language digital news publisher, The Local.

Continued below…

Video of the fire shows that as part of efforts to rescue the yacht, a tow was established.

However, the yacht later sank and is now believed to by lying in around 650 metres of water off Nice.

A tow is established on a luxury motor yacht which has caught fire off Nice

A total of 66 firefighters tackled the fire. Credit: You Tube

Debris from the wreckage has been collected and the risk of pollution from the yacht is being monitored by the French authorities.

The fire, which took place last Thursday (17 August), is not believed to be suspicious, although an investigation into the cause is ongoing.

A white motor yacht with black smoke and flames off Nice

Smoke could be seen billowing from the vessel. Credit: You Tube

If Only was custom built and launched by Feadship in 1974.

Formerly Walanka, the yacht was last refitted in 1989, and has a stabilisation system.

It has a cruising speed of 12 knots, and can accommodate up to eight guests and a crew of nine.