Dubbed the "world's largest superyacht", the 220-metre Quintessentially One will be a floating club for the global elite. View our gallery of renders of the vessel below

The global private members club and concierge service Quintessentially has announced that it is to build the “world’s largest superyacht” – called Quintessentially One.

The 220-metre vessel will only be open to the “global elite to tour the world and attend the world’s most desirable events,” according to details released by the company.

It will cost £250 million to build and will serve Quintessentially members as a seaborne private members club.

“It will be the world’s largest floating private membership club,” said Quintessentially’s co-founder, Aaron Simpson.

A render of the world's biggest superyacht, Quintessentially One

A render of the 220-metre superyacht

“Where the traditional cruise model is to go somewhere, dock and get off; we will dock and people will want to get on”,  he stressed.

No builder has yet been announced for the superyacht.

See renders of the interior of Quintessentially One below

According to the Quintessentially One website, the vessel will have 11 decks, 10 residential suites and a crew of 490 to cater for the guests on board.

A boutique hotel on the lower decks will provide 112 berths, with prices expected to start from £2,000 a night.

The superyacht, which will have a gross tonnage of 45,000 GRT,  will be Norwegian-registered.

The cruising speed of Quintessentially One has not been revealed.

Azzam - the largest superyacht in the world

Azzam is currently the largest superyacht in the world. Quintessentially One will be 40-metres longer. Credit: Gerd Fahrenhorst/Wikimedia Commons

“This is a wonderful way to cater and meet the demands of Quintessentially’s global members when they all descend on the same high-profile events which currently don’t have enough supply,” explained Simpson, who says the vessel will visit events such as the Monaco Grand Prix, Cannes Film Festival and Rio Festival.

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Five unnamed billionaires are reported to have paid £8.5 million each towards the build cost, and will each receive a private suite.

The superyacht will be 40-metres longer than the world’s biggest private vessel, Azzam, which was launched by Lürssen Yachts in April 2013.

It is set to make its first voyage in 2019-2020.