Anglia Sea Ventures

What is a Shared Ownership Scheme?

Shared Ownership is a means of buying and keeping a yacht where a syndicate of owners take it in turns to use it and share the cost of maintaining it. It is also known as time share, syndicate ownership or fractional ownership.

Benefits

With shared ownership you have all the advantages and prestige of owning your own yacht but with the costs spread between the syndicate members. This means you can make significant savings compared to the costs of sole ownership.

For example, if there were 4 members in the syndicate you would own a 1/4 share each and would pay just 25% of the bills.

For a syndicate of 4 you will be allocated 12 weeks use each per year plus maintenance down time. Weeks are allocated on a rotating basis, i.e. every 4th week. Each year your allocated weeks rotate forward. For example if you are allocated the first week of June in 2008, you would be allocated the second week in June for 2009 and so on. Members can swap weeks my mutual agreement, perhaps to get 2 consecutive weeks for a summer holiday.

Our syndicates do not run for a predetermined time but are ongoing. We will help you sell your individual share if you decide to leave. If a significant majority of the syndicate votes to sell then the boat will be sold and the proceeds distributed amongst the membership.

When you consider the expense and down time associated with maintaining an older yacht, you could be much better off sharing a brand new one and be able to spend more actual time on the water.

Our Responsibilities

We setup the syndicate, spec the boat and handle all of the administration.

We arrange for the yacht to be purchased for you (you will pay your portion of the cost of the yacht at the appropriate point) then we will maintain her for you after she is commissioned. We will ensure she has sufficient gas and water so you can turn up and sail. You are responsible for arranging cleaning and refueling of the yacht at the end of your cruise.

We will repair or replace breakages on your behalf and take care of engine servicing and other regular maintenance along the way.

We run an Annual General Meeting in which we will give an overview of the previous year's accounts and importantly, oversee the process of allocating time slots for the following season. For running the syndicate we charge each of the syndicate members an annual fee of £500.

Your Responsibilities

As a syndicate member you will receive shares in the yacht equal to your proportion of the investment. We will require you to sign an agreement contracting us to manage the syndicate and look after the boat for you. As a member of the syndicate we ask that you attend the annual general meeting.

You pay your share of the bills through a regular monthly payment into a syndicate maintenance fund. Bills include berthing fees, engine servicing, winter lift, scrub and anti-foul and gas etc. We settle all the bills from this fund but we do not make any charges or profit from this, so you can be confident that the boat is being professionally maintained at cost. Any surplus will be carried forward to the following year.

You must ensure that your proportion of the yacht is insured. We are happy to recommend specialist insurance companies.

What's Next?

For the 2010 season we have shares available in the following very high specification brand new boats.

To receive our shared ownership pack or for a no obligation chat please contact us.