Come South!

[SPEEDTRIPLE]

I think there have been a few goes at this, If I remember correctly a company called Challenger were responsible for a lot of Birchwoods 330 and 360 production boats with their syndicate model that was used in Norfolk and Suffolk. Not sure of the reason for failure, it is not necessarily a bad idea just because it goes bust.

 

Hi Ian,

 

All the Syndicate boats are owned by the members of the syndicate, meaning Allan and I, as well as several others on the forum, actually own the boats. That`s why when the then boss of Challenger could`nt sell the boats to pay back embezelled money. As soon as you buy into a syndicate boat, you become an owner. Unlike timeshare where you buy a week or more each year for a given period, WE own the boats between us. All the Challenger boats management were taken over (with the consent of the owners) by BCBM, and Lightning was one of them, but long before i bought our share, the owners voted to go alone, and we are now a private self managed syndicate. Lightnings sister ship "Thunder" along with "Silver Cloud" (the first in the Challenger syndicate), "Moonlight Shadow", "Evening Shadow" and "Gooseander"  are now all managed by BCBM, but are all owned by the individual boats syndicate owners. 

 

Also, if we decided to give up boating, or wanted to buy a boat of own later when we retire, we can sell our share for its market value, without having to sell it back to the syndicate for a value they decide, or give them a percentage.

 

Allans (Ranworth Breeze) boat and "Southern Crusader" her sister ship i think are private syndicates and self managed, just like Lightning. Perhaps Allan can correct me if i`m wrong?.

 

There were some other schemes around, something about a keyholder scheme?,  but these seemed to me to be a bit dubious, so i gave them a wide berth.

[SPEEDTRIPLE]

Anyway, appollogies to all, i did`nt mean to hijack this thread. :oops:

[ranworthbreeze]

Hello Neil

 

You are correct Ranworth Breeze & Southern Crusader are Private Syndicates, we looked at the options in late 2011 but decided to be self managed.

 

It works very well for us.

 

Regards

Alan