The Kouga Municipality says a fire has destroyed a yacht-building business in St Francis Bay.
The Municipality says the cause of the fire at Nexus Yachts, is still unknown.
In a brief statement, Kouga spokesperson, Monique Basson, said the steel-structure building collapsed due to the fire and heat.
She says two yachts, valued at R30 million rand each, were damaged during the fire.
No one was injured.