I have found some pics of the "Sabre" class Landyacht.
The yachts were built in Queensland by Sabre power boats.
They were a full body fibre glass enclosed yacht, the axles were made from 50x50mm glass fibre rovings and resin ... VERY strong and flexible.
A lot of money was spent in manufacture with many well designed and cast alloy parts for the yacht. The fibre glass work was wonderful.
This yacht in the pics owned by Graham Parr (thanks for the pics), the mast is 150mm aluminium wing section used on catamarans. The length of this mast (and aspect ratio of the sail) was governed by what could be salvaged from transport damaged mast.
The sail was a very thick cloth for stability the color was dyed into the cloth for a commercial for a Canadian beer commercial shot in South Australia.
There was at one stage in Adelaide approx 6 of this class sailing.