It was on its own pontoon, but when the fire took hold it broke its moorings as the ropes burnt through. Luckily, it just drifted across the to harbour pier wall, where it then sunk. There is a pretty big recovery operation going on at the moment, the diesel was contained with a barrage, but they now need to lift the boat out of the outer harbour, as that is a quite busy fairway.
I thought it was a Sunseeker Manhatton (there are 2 moored in Torquay), but it was only a Princess 85 (they are built at Plymouth), so the value is only about £2m.
BTW, the Manhatton and the Princess have remarkably similar looks.