Luxury boats worth more than $2 million destroyed in fire in Sydney's Woolloomooloo

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Over $2 million worth of luxury yachts were destroyed in a blaze which took place in the early hours of this morning at Finger Wharf in Woolloomooloo.

More than 100 residents and guests were evacuated around 4am from apartments at Woolloomooloo’s Blue Hotel after a fire engulfed two yachts, worth an estimated $2 million.

Emergency services responded to reports of two vessels on fire at the wharf at around 3.40am.

Radio personality John Laws and actor Russell Crowe are among the residents of the luxury apartments along the popular finger wharf, which is also home to several restaurants.

Fire crews were able to “save around eight or nine luxury cruisers but we’ve had two 40-foot boats, one cruiser and one yacht have burnt to the water line. One has sunk and one has capsized,” Superintendent Tom Cooper from Fire and Rescue NSW told the ABC.

Firefighters said they had saved millions of dollars worth of property, but are now facing a major situation here with diesel fuel in the water.

At the height of the fire, Marine Area Command personnel moved two vessels to prevent them from being damaged.

Police are still investigating the cause, which they believe to be suspicious.

A 24-year-old man, of no fixed address, was arrested after he was found with allegedly stolen property. He was released pending further inquiries.

Part of the Finger Wharf precinct is closed to the public to allow further investigations.

Residents and businesses are not affected.

Some residents took to Instagram after waking up to evacuation calls.

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