Shares in new small group, Ocean 30

[tippsy]

I am setting up a small shared group, up to 5 members, around an Ocean 30, based at Wayford Marine.

The group would be an affordable way to get on the Broads, and offer 5 members up to 10 weeks across a year to use the boat as their own, weeks, weekends, or just days.

The Ocean 30 is a recently refurbished cruiser which will sleep up to 5 adults + 1 child in 3 cabins.

3 shares available at £2850 share (20% ownership) and £58 per month to cover moorings, insurance, tolls and a basic maintenance fund.

Don't miss this chance to get on the Broads, please message me for further details and photos.

[ranworthbreeze]

Hello Tippsy,

 

Welcome to the NBN forum.

 

We do like names on the forum it keeps it a friendly place.

 

As you will already know there are a few syndicate/boat share groups on the Norfolk Broads currently at least eight and a number of other private boats that are shared by friends with hardly any formal contracts or just basic contracts in place.

 

If you require any advice they are many of us on the forum that can help you.

 

The price for purchasing the limited shares in your boat looks very good, I think however that you may have underestimated the running costs at £3480 per year.

 

Regards

Alan

[MBA Marine]

Hi Tippsy,

 

Your picture must have been a year or two ago, if im not mistaken its in Woods dyke Horning and the wooden boat in the background would be 'Merrywind'.

[JawsOrca]

and  to the forum

 

Good luck with the share sales.

 

[Paul]

 

I think however that you may have underestimated the running costs at £3480 per year.

 

I think £3.5k sounds reasonable, given that it states to cover Mooring, Tolls, Insurance and Basic Maintenance. Tolls I'm guessing at around £310 a year, Inurance £150, mooring £1500 which leaves £1500 for the maintenance. Of course, you can spend pretty much what you want and when costs are being shared then it is easy to let them run away to some extent. Some syndicates feel the need to keep the boat in as new condition which inevitably incurs a premium cost but that is not really appropriate in this case. Others allow the boat to grow old gracefully which saves massive amounts of money but the value of the capital investment will of course diminish.

 

Whether an extra regular payment should be made to build a capital reserve or sinking fund is a matter of debate or personal choice.

[tippsy]

Thank you all for your support. Will be seeing how much interest we get for this new group.