2017 Jeanneau Sun Odyssey 349 Yacht Syndicate
For many people the entry into ownership of a new yacht or motor boat is not viable, particularly when account is taken of the capital outlay in comparison with the time spent on the vessel. Others wishing to venture into sole ownership of a Boat or Yacht are often put-off by the ongoing costs of mooring, insurance and maintenance.
For those who have these worries or have concerns about the responsibility that comes with buying a boat, then purchasing shares and forming a syndicate may be the answer to get afloat.
It’s our experience from the creation of a successful syndicate in 2004 on a 36 foot Bavaria in Conwy, that is still running well today, has led us to believe that syndicates offer a very cost effective way of getting on the water. Our most recent syndicate, Our tern, has also been very successful. Our Tern is a 2015 Jeanneau Sun Odyssey 349.
The success of this syndicate has led us to develop what we believe is a unique way of forming a yacht syndicate that both protects investors and also gives the collective syndicate members the ability to look after their investment.
How it works
This simple system has worked very well with the syndicate on the yacht My Tern for many years, many syndicate owners have bought and sold shares in her successfully through NYB Conwy.
If having discussed the various options and details of boat sharing, you find the concept appealing, an initial letter or email of interest is required to register your name on the next available syndicate.
Once we have the required number of letters of intent in place, you will be contacted to confirm that you still wish to proceed. Contracts will be exchanged and after receiving all the returned contracts the yacht will be ordered. At this point 10% deposit will be required to reserve your place in the share syndicate with the remaining balance due when the yacht goes into production.
Some of the benefits
A syndicate is a great way of owning a boat without all the hassle of full maintenance costs.
- 12 weeks usage – Each syndicate member has 12 weeks usage divided up into 10 weekly segments (with a 2 week block in the summer)
- Only pay a quarter of the costs
- Dedicated syndicate manager to organise sailing diary, maintenance work, berthing and insurance
- Owning a brand new yacht
- Selling your share in the future is easy and hassle free using Network Yacht Brokers
Please contact us for a syndicate information pack