Yacht Share/Syndicate - Med' (or anywhere else).....
Discussion
Having recently bought a new (to me) little yacht for use in Chichester Harbour / the Solent, in true PH-style, "mission-creep" has already well-and-truly set in and I'm already wanting a bigger one (don't we all...)
I've been sailing since I was 11, and after a break from it to concentrate on rugby for 15 years between the ages of 18 and 32, I've fallen completely back in love with sailing to a greater extent than even I imagined possible. There's just nothing that brings me the peace and enjoyment that sailing does - I just love messing about on boats...
The boat I have in the UK "fits" what I want to do around here very well, but I can't stop dreaming about having a (say) 45-footer, and more than that, having one in, say, Mallorca.
If I could live with the running costs of such a boat in the UK on my own, I'd already have bought one, but the idea of of having say a 1/6 - 1/4 share in a bigger yacht in the Med is beginning to appeal a lot.
Fag-Packet maths / research suggest that a 1/4 share in a 20-year old 40+ footer can be had for £12,000. Most syndicates tend to require a monthly "kitty contribution" of around £200 for annual upkeep and upgrades, and this would translate to 4-6 weeks walk-on-walk-off prime-season use per year, which realistically, is all my working life would (sadly) allow, for now.....
Just yesterday I saw a 1/6 share in a 2004 Bavaria 44, marina in NE Mallorca for less than £10K with four prime weeks/year.
The cost of chartering a similar (admittedly probably newer) boat for a single fortnight would be around £7K, so man maths means that once the initial share is paid (and obviously remains a tangible asset that could be sold later...) £2,500/ year in annual costs for twice as much time starts to make a lot of sense...
To buy such a boat outright would cost £60,000+ in the UK
To keep such a boat in a South Coast marina would cost about £5,000/year.
Another say £2K in insurance and miscellaneous upkeep/ year, and that's without anything major going tits-up.
I can't see a downside really - £2,500/year for a month of sailing for 6 people (or less)...
I've also got a mate who is desperate for me to join one of these Syndicate Clubs in the UK based in Hamble with him - think P1 SuperCar Club, but for boats... That would cost £5K/year EACH, if we shared our subscription credits between us, but whilst I'd be spending time on a £250,000 boat, I'd still be in the Solent, when I can go whenever on the little boat.
It's all pointing me towards a share in the Med'.
Have any of you done a similar thing? - How has it been?
Cheers,
Nico.
I've been sailing since I was 11, and after a break from it to concentrate on rugby for 15 years between the ages of 18 and 32, I've fallen completely back in love with sailing to a greater extent than even I imagined possible. There's just nothing that brings me the peace and enjoyment that sailing does - I just love messing about on boats...
The boat I have in the UK "fits" what I want to do around here very well, but I can't stop dreaming about having a (say) 45-footer, and more than that, having one in, say, Mallorca.
If I could live with the running costs of such a boat in the UK on my own, I'd already have bought one, but the idea of of having say a 1/6 - 1/4 share in a bigger yacht in the Med is beginning to appeal a lot.
Fag-Packet maths / research suggest that a 1/4 share in a 20-year old 40+ footer can be had for £12,000. Most syndicates tend to require a monthly "kitty contribution" of around £200 for annual upkeep and upgrades, and this would translate to 4-6 weeks walk-on-walk-off prime-season use per year, which realistically, is all my working life would (sadly) allow, for now.....
Just yesterday I saw a 1/6 share in a 2004 Bavaria 44, marina in NE Mallorca for less than £10K with four prime weeks/year.
The cost of chartering a similar (admittedly probably newer) boat for a single fortnight would be around £7K, so man maths means that once the initial share is paid (and obviously remains a tangible asset that could be sold later...) £2,500/ year in annual costs for twice as much time starts to make a lot of sense...
To buy such a boat outright would cost £60,000+ in the UK
To keep such a boat in a South Coast marina would cost about £5,000/year.
Another say £2K in insurance and miscellaneous upkeep/ year, and that's without anything major going tits-up.
I can't see a downside really - £2,500/year for a month of sailing for 6 people (or less)...
I've also got a mate who is desperate for me to join one of these Syndicate Clubs in the UK based in Hamble with him - think P1 SuperCar Club, but for boats... That would cost £5K/year EACH, if we shared our subscription credits between us, but whilst I'd be spending time on a £250,000 boat, I'd still be in the Solent, when I can go whenever on the little boat.
It's all pointing me towards a share in the Med'.
Have any of you done a similar thing? - How has it been?
Cheers,
Nico.
I sail out of Chichester harbour too and have recently downsized to 32' with Tiller steering so i can single hand. The draft has reduced from 2.2 to 1.6 which i great around here.
In terms of yacht share in the Med I would suggest you decide what cruising area appeals to you taking into account the restrictions caused by Brexit. 1/4 or 1/6 share sounds about right if you are time limited through work. The issue with yacht shares is the people with whom you are sharing. Everyone needs to do their bit keeping the boat clean but also day to day maintenance.
Don't forget to check out the local airport you will fly to to ensure there are flights from wherever you fly from at a frequency and price that works. I assume if your Chi Harbour way Gatwick, Heathrow and Southampton would all work.
I've got a few mates who keep yachts in the Med about that size but they are sole owners and are mostly retired so spend week or a month months at a time on them.
The Southampton boat show is currently running so you may find some ideas there.
As one alternative I've got another mate who sails here and also has a Parker 27 lifting keel which he keeps in Brittany and sails along the coast and oft parks on the beach. Probably not suited if you have children who would enjoy the warm seas in the Med.
BTW £5K for a 40' anywhere along the Solent is pretty low. I'm paying about £7K now for 32'.
In terms of yacht share in the Med I would suggest you decide what cruising area appeals to you taking into account the restrictions caused by Brexit. 1/4 or 1/6 share sounds about right if you are time limited through work. The issue with yacht shares is the people with whom you are sharing. Everyone needs to do their bit keeping the boat clean but also day to day maintenance.
Don't forget to check out the local airport you will fly to to ensure there are flights from wherever you fly from at a frequency and price that works. I assume if your Chi Harbour way Gatwick, Heathrow and Southampton would all work.
I've got a few mates who keep yachts in the Med about that size but they are sole owners and are mostly retired so spend week or a month months at a time on them.
The Southampton boat show is currently running so you may find some ideas there.
As one alternative I've got another mate who sails here and also has a Parker 27 lifting keel which he keeps in Brittany and sails along the coast and oft parks on the beach. Probably not suited if you have children who would enjoy the warm seas in the Med.
BTW £5K for a 40' anywhere along the Solent is pretty low. I'm paying about £7K now for 32'.
Nomme de Plum said:
I sail out of Chichester harbour too and have recently downsized to 32' with Tiller steering so i can single hand. The draft has reduced from 2.2 to 1.6 which i great around here.
In terms of yacht share in the Med I would suggest you decide what cruising area appeals to you taking into account the restrictions caused by Brexit. 1/4 or 1/6 share sounds about right if you are time limited through work. The issue with yacht shares is the people with whom you are sharing. Everyone needs to do their bit keeping the boat clean but also day to day maintenance.
Don't forget to check out the local airport you will fly to to ensure there are flights from wherever you fly from at a frequency and price that works. I assume if your Chi Harbour way Gatwick, Heathrow and Southampton would all work.
I've got a few mates who keep yachts in the Med about that size but they are sole owners and are mostly retired so spend week or a month months at a time on them.
The Southampton boat show is currently running so you may find some ideas there.
As one alternative I've got another mate who sails here and also has a Parker 27 lifting keel which he keeps in Brittany and sails along the coast and oft parks on the beach. Probably not suited if you have children who would enjoy the warm seas in the Med.
BTW £5K for a 40' anywhere along the Solent is pretty low. I'm paying about £7K now for 32'.
Hi NdP,In terms of yacht share in the Med I would suggest you decide what cruising area appeals to you taking into account the restrictions caused by Brexit. 1/4 or 1/6 share sounds about right if you are time limited through work. The issue with yacht shares is the people with whom you are sharing. Everyone needs to do their bit keeping the boat clean but also day to day maintenance.
Don't forget to check out the local airport you will fly to to ensure there are flights from wherever you fly from at a frequency and price that works. I assume if your Chi Harbour way Gatwick, Heathrow and Southampton would all work.
I've got a few mates who keep yachts in the Med about that size but they are sole owners and are mostly retired so spend week or a month months at a time on them.
The Southampton boat show is currently running so you may find some ideas there.
As one alternative I've got another mate who sails here and also has a Parker 27 lifting keel which he keeps in Brittany and sails along the coast and oft parks on the beach. Probably not suited if you have children who would enjoy the warm seas in the Med.
BTW £5K for a 40' anywhere along the Solent is pretty low. I'm paying about £7K now for 32'.
Your old boat must've been quite something to draw 2.2m.
Mine has a lifting / swing keel and twin rudders so she draws 1.7m with the keel down, and 0.7 with it up - she can dry out on her keel casing/stub and rudder tips. I keep her on a deep water mooring in Bosham though - I don't like the idea of her drying twice/day.
She's a VERY well thought-out little yacht, and I can't think of anything else her size that offers what she does.
Anyway, I am diverting my own thread from the Med' idea! - It seems I was a bit out of touch with south coast marina fees then - ouch! but I suppose that makes my point about syndicate ownership even more stark really.
You're right about my choice of airports too, and Mallorca appeals because (I believe) BA fly there year-round, where for example they do not fly year round to all of Greece and Menorca... I have more BA miles and companion vouchers than I can use for long haul it seems, so the flights and costs don't worry me too much.
As for sole ownership, I am not in that league financially - not if I kept the boat in Bosham at least, and that's the boat that will get the level of use it deserves because I can walk to the ferry that takes me to the mooring from home in five minutes, so I want to keep a boat 'at home'.
I feel bad enough about it being sat on its mooring unused as it is. keeping a boat for 52 weeks and using it for three or four week/year just wouldn't sit well with me - I just don't have money to do that, let alone the depreciation.
The odd thing about (SAILING) yachts is that the costs of actually *using* them over and above the fixed costs of keeping them are relatively small - I think I've spent about 50 quid on red diesel this year, and when it comes to food and drink for a weekend, I figure that I'd spend either the same of far more in a pub!
I had a 22 foot Formula with a 7.4 litre V8 a few years ago - one could barely sleep on it, and no woman would tolerate pissing in a bucket for 24 hours. It also cost £600 to fill it with fuel and one could get through that in a weekend with enough WoT time - it did 65MPH... Oh the noise it made though
....The Parker 27 is to similar to what I have bought this year, so I get the appeal, but I think to have the Med weather is the aim!
As for the intricacies of any particular syndicate, yeah - I guess there's only so many eventualities much any owners' agreement can reasonably anticipate, and the idea of (for example) turning up for "my week" to find the A/C isn't working and the bloke who had it last week "didn't bother to get it sorted as there was only a couple of days of his week left/wasn't bothered" is a worry, but I suppose that's always going to be the sort of risk one takes, but that is balanced with drastically reduced costs of upkeep, berthing, depreciation etc...
I see the monthly contributions as probably more important and relevant than the initial outlay really, since to me, it's this "kitty" that keeps the boat useable to its full potential, and being kept in a full-service marina where professionals can jump on any issue immediately, and fix it, because there is money there to pay for it, it what makes worth doing - I wouldn't be interested in risking my holidays being ruined by a syndicate set on running a 45 footer on a shoestring....
Edited by NicoG on Monday 18th September 12:20
Edited by NicoG on Monday 18th September 12:21
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