THIS is the lavish superyacht commissioned by Donald Trump 24 years ago - before the project was abandoned when financial problems surfaced.

Trump paid Spanish ship builders Oliver Design £140,000 to design the 420ft yacht in 1993.

6 The luxury yacht would have boasted four decks Credit: OliverDesign/BNPS

6 Trump paid £140,000 to have the 'Trump Princess' designed Credit: OliverDesign/BNPS

6 The yacht was designed in 1993 by a Spanish firm Credit: OliverDesign/BNPS

Now, drawings and blueprints released by the firm show what he described as 'the most beautiful yacht in the world'.

The vessel would have boasted four decks, a helipad, suites, lounges, a swimming pool, hot tubs and a vast gallery decorated with palm trees.

But the project reportedly had to be shelved by Trump due to financial problems.

The fledgling firm was spotted by Trump at the Florida Boat Show, one of the world's leading shipping fairs.

6 Trump pictured with firm's design team in Trump Tower in 1993 Credit: OliverDesign/BNPS

The billionaire's PA approached them and said he had chosen them to design his new yacht.

A signed letter sent from Trump in March 1993 to boss Jaime Oliver reads: "I am interested in building a 420' yacht which, when completed, will not only be the largest yacht in the world, but at the same time, the most beautiful.

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"The yacht design which you presented to me is very beautiful and indeed, I believe if built, would be a great tribute to everybody involved in the project, including you country, Spain."

Mr Oliver and son Inigo developed a close personal relationship with Trump and made numerous visits to Trump Tower in New York.

6 A letter from Donald Trump to Jaime Oliver requesting pricing for his super yacht Credit: OliverDesign/BNPS

But shortly after the project was scrapped - and the Olivers later discovered the businessman had filed for bankruptcy in 1992 after his Plaza Hotel in New York accumulated $550 million in debt.

Inigo Oliver said: "It was a great opportunity and a big challenge for us at the time.

"He knew what he wanted and payed for the complete design contract. But due to economic problems he was going through on his business it had to be abandoned.

6 Plans of the 420ft yacht, which were abandoned after Trump ran into financial trouble Credit: OliverDesign/BNPS

"We were a bit disappointed but at least we got the experience.

While the 'Trump Princess' would have been the largest yacht ever built, it would be dwarfed by today's biggest, known as 'A', which is 470ft long.