An "obsessed" killer who beat to death a millionaire before throwing him off his yacht into the sea must serve at least 16 years behind bars for his crime.

Top judge, Mr Justice Davis, ruled that was the least David Alec McBride, of Bognor, deserved for the savage murder of popular 70-year-old, Robert Saint.

Describing the killing as "bizarre", the judge said McBride appeared to have been "motivated by some kind of obsession" with Mr Saint's 42ft motor yacht which he had earlier tried to buy with a £119,000 cheque, which promptly bounced.

McBride, now 49, was convicted of murdering Mr Saint, of Stening, at Lewes Crown Court in July 2003 and jailed for life.

And today, after reviewing the case at London's Royal Courts of Justice, Mr Justice Davis ruled he must serve a minimum jail "tariff" of 16 years before he can even apply for parole.

He added that, if McBride were being sentenced today under new, much tougher, guidelines, his tariff might well have been "significantly higher".

But today's ruling means McBridge can have no hope of release before late 2018, even after time he spent on remand is taken into account.

Describing the case as "unusual", the judge said McBride had been "very keen" to buy Mr Saint's yacht but, when he wrote a cheque for £119,000, it bounced.

On September 26 2002, the pair met on the yacht and went on a trip out to sea. When the yacht returned to harbour later that day, Mr Saint had disappeared.

Two weeks later, the millionaire's battered and lacerated body was washed ashore. Among other things, he had suffered multiple fractures to his skull and face.

McBride made no comment during his police interviews and the jury disbelieved his story that Mr Saint had suffered an accidental injury in the yacht's engine room and he had then thrown him overboard because he thought his account would not be believed.

Mr Justice Davis said the killing was made worse by the victim's age and the fact that the crime "appears in part to have been motivated by a desire for gain, namely the possession of the boat."

There had also been a degree of premeditation and an attempt to conceal the body.

Even once McBride has served his 16-year tariff, he will still only be freed if he can persuade the Parole Board he poses no serious threat to the public. When released, he will remain on perpetual "life licence", subject to prison recall if he puts a foot wrong.