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Discussion Topic: Share in Moonlight Shadow
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gregafloat |
Nov-18-2009 @ 4:53 PM
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Hi Dave,
quote:"......The purchase price may seem reasonable but the running cost of £1200 for an 8% share sounds expensive to me. That equates to £15000 per year total running cost plus fuel pump outs etc........"
But that argument ignores the alternative - boat hire. How much is a multiple booking of a boat for several weeks spread across the whole year going to cost? Compare that with the price of a year's shared ownership and shared ownership is considerably cheaper.
You may think that £15,000 sounds expensive, but the reality is that hirers are contributing considerably more than that to the hire company's coffers.
The reason that shared ownership is cheap is because, compared to a hire fleet the management company is not tying up its own capital in the boat, that cost is shard by the users, and normally and a shared boat has considerably higher occupancy rates for a much longer season.
For those who hire several times a year, and are prepared for some very off-season weeks aboard, shared ownership offers a number of benefits, such as generally higher spec boats and the peer pressure from other owners leading to generally better care of the boat than found amongst hirers - they all have their investment to protect.
The only caveats I would offer, is that you really do need to enjoy out of season boating and whereas the sales brochures often make great play on the "pride of ownership", the reality is that you have extremely limited control of the boat. It's much more like being an investor in an upmarket hire boat.
I speak as an ex-share-owner of nb Stolen Time, from the "OwnerShips" fleet.
Greg Chapman
http://www.gregafloat.plus.com
A Boating Biography
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webntweb |
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Nov-18-2009 @ 5:37 PM
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I agree with Dave's summing up except perhaps the out of season bit. We too had a share in a narrowboat in the Ownerships scheme and did quiet a bit of out of season cruising. The main difference is that on a narrow boat you are stood outside in all weathers (one trip you couldn't tell where the boat ended and I started; the snow was that thick), whereas on a Broads boat you can cruise along nice and snug with the option of opening the canopy on fairer days. It is a bit of a gamble as you draw your weeks annually (usually in November) and draw 4 single weeks in Summer, Autumn, Winter, Spring.
My weeks this year have been 11th April (Easter), 25th July (gorgeous week), 10th October (another nice dry week) and finslly Boxing Day to Jan 2nd (New Year on the Broads). Next year's weeks haven’t been drawn yet as the lady who organises everything has been ill and we have agreed to the draw in early January. I already have April 3rd (Easter again) next year as the weeks are drawn in the order of seasons I mentioned in the previous paragraph.
Some people prefer school holidays and some don't so it is possible to discuss swapping weeks with each other.
Roy
This message was edited by webntweb on Nov-18-09 @ 4:40 PM
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seajay |
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Nov-18-2009 @ 6:13 PM
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Knows Their Stuff
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The boats mentioned are managed by BCBM. Previously they were managed by Challenger.
Some of the Challenger Broads boats are now self-managed. We only pay £640 per share per year plus diesel and pumpouts.
Either way, compared to hiring, it is the most economical way to holiday for 4 weeks on the Broads.
Regards-Steve
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seajay |
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Nov-18-2009 @ 6:14 PM
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Knows Their Stuff
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The boats mentioned are managed by BCBM. Previously they were managed by Challenger.
Some of the Challenger Broads boats are now self-managed. We only pay £640 per share per year plus diesel and pumpouts.
Either way, compared to hiring, it is the most economical way to holiday for 4 weeks on the Broads.
Regards-Steve
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webntweb |
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Nov-20-2009 @ 10:57 AM
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Moonlight Shadow had the lounge/cockpit soft furnishings recovered two years ago and was lifted out and the exterior pressure washed and repolished last winter. When you take things like that it account the average weekly cost of £400 including diesel and pump outs is very cost effective boating.
Roy
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PANDINT458 |
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Nov-20-2009 @ 9:02 PM
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Fens Fatale
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I`ve always been interrested in syndicte ownership, and looked at Challenger. I thought the MD got caught out, something to do with financial irregularities, and the company folded resulting in the boats being sold off. So what exactly happened, and are there any other syndicate ownership schemes available?.
Why raise hell, when you can raise a smile?.
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webntweb |
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Nov-22-2009 @ 10:08 AM
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Challenger didn't own the boats, just a 4 per cent share in each, so the
boats weren't sold, the individual syndicates just carried on, some with a
management company and some are self managed by the owners.
I don't know of any other Broads based shared ownership schemes
though. Perhaps others in the forum do.
This message was edited by webntweb on Nov-22-09 @ 9:12 AM
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PANDINT458 |
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Nov-22-2009 @ 2:35 PM
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Fens Fatale
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Hello Roy, (webntweb) £2,999 seems very cheap. I can remember only a few years ago Challenger were selling the shares at around £9,000. Does that mean Challenger were ripping people off, or has the value of the boat dramatically dropped for some reason?. I`m very interrested, but i have to be 100% certain if i`m going to sell some of my investments at such a difficult time. My investments are now only worth half what they were 5 years ago (thanks mr Brown), so i`m a little concerned about selling them before they have time to recover.
Why raise hell, when you can raise a smile?.
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webntweb |
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Nov-23-2009 @ 11:31 AM
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Hi PANDINT458,
£2,999 is a very good price. I would think that a realistic price would be at least £1,500 more than that for an 8% share (even in the present financial climate I wouldn't expect a share to be less than £4,000).
I can't say I have ever seen a shared scheme where the individual shares haven’t added up to more than the value of a boat if bought outright.
I don't know how much the original share was in Moonlight Shadow as we only bought our share earlier this year although if it was £9,000 it does seem quite a lot.
The boat is being maintained to a good standard so I would be surprised if it lost more than a third of its present value over the next say 6 years (the average length of time in all shared boat ownership that people keep a share) which would equate to about £1,000 per share or about £40 per week's holiday – still making it excellent value compared with hiring.
Roy
ps it isn't our share that is for sale.
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