OWN A 1/8TH SHARE IN THIS YACHT FOR JUST £160,000
This syndicate is probably the most established fractional ownership operation in the western Med, having run a number of yachts from Puerto Portals and Palma over the past decade.
The stunning Sunseeker Yacht 82 is new to the fleet and comes with a full time Captain and will have her home berth on Wellies Quay in Puerto Portals.
This Sunseeker 82 was one of the last Sunseeker 82 Yachts built in late 2006, launched as a 2007 model year with a host of upgrades including the larger caterpillar 1650hp engines, a special interior, zero speed stabilizers, Bang & Olufsen A/V equipment and more.
This Sunseeker 82 Yacht has always been operated by her full time crew and is professionally maintained by official service agents. She has also had a full removal of old anti foul with an epoxy primer as part of this year’s yard work.
Her interior has the favoured satin cherry woodwork, cream leather sofas and cream carpets with upgraded interior panelling throughout the vessel.
She offers comfortable accommodation for up to 8 people comprising; central full width owner’s cabin, complete with sofa, dressing table, walk in wardrobe and 3/4 width bathroom with twin sinks.
Spacious VIP double cabin forward also with sofa, dressing table and walk in wardrobe.
Two en suite guest twin cabins to port and starboard, off central lower corridor.
The crew area aft with access through transom door and engine room has a double berth and a separate single cabin and bathroom which could also be used by family & friends.
The syndicate is made up of 8 shareholders each enjoying between 3 and 9 weeks use a year. The owners are all British and there is an even spread of retirees and parents with school age children. This means there is a broad cross-section of preferences regarding the choice of school holidays, and those who prefer to avoid time on board during those periods.
This syndicate is also Platinum Member of the Fractional Association, giving each shareholder the comfort that it is very well managed.
Owners are assured that the Fractional Association’s complete operational criteria are adhered to, offering fully transparent access to accounts and working to the association’s Code of Conduct and fulfil their Maintenance Management criteria; including an owners’ website for the selection of their weeks, a communication forum and real time access to the management accounts.
The Fractional Association have devised an algorithm that makes the weekly selection process as fair as possible for each individual owner. Every year the order of selection changes so that those who were disadvantaged the previous year are advantaged the following year.
This is how it works: Each person selects a week in rotation. Person 1 chooses one week, then it’s person 2, 3, 4, 5, 6, 7 and 8 all choosing a week at a time in order. This cycle is repeated until all 48 weeks for the year are allocated, (the remaining 4 weeks are retained as maintenance weeks). The following year it’s done in reverse which gives the person who chose 8th the ability to choose 1st instead, and so on. Each year, after the 48 weeks are fully allocated, it is normal that some swapping takes place after the 48 weeks are allocated between owners for those who prefer 2 weeks together for example. The Fractional Association’s website forum for each syndicate has a special section for week swaps or for cancelled, unused weeks which owners trade with one another.
A share will be coming available during the 2016 winter, as one of the owners initially bought extra weeks, knowing he had a special occasions needing extra time on board this summer, but will not need as much time on board thereafter.
Fractional ownership is a commercial proposition that has been around for many decades but has become ever more popular in recent years. It is a method of ownership where several people can own a share in an expensive asset.
Traditionally, luxury yachts have been owned by the privileged few at huge expense. Along with the high purchase price comes a significant ongoing cost associated with the yacht’s upkeep, including mooring fees, maintenance, insurance and guardinage.
Yacht fractions not only substantially reduces the initial financial outlay; it also offers equivalent savings in the ongoing operational expenses. Yet it doesn’t compromise the owner’s use, size or calibre of the yacht or expose them to all of the risks or hassles that accompany ownership of the entire yacht.
One simply pays for the time one is on board and somebody else pays when somebody else is on board. This is a very modern approach to better asset management, commonly referred to as the sharing society.
Because an independent professional generally handles the management of the yacht, the fractional owners are free to enjoy themselves and are removed from the detailed management issues. Each owner is free to use his/her share of the asset according to the terms of each actual syndicate agreement.
A very common misconception about fractional ownership is that it is a form of timeshare by a different name. This is not the case. With timeshare one does not own a share in an asset, simply the right to use that asset for a set period of time. When that time expires, one is left with nothing. With fractional ownership, one owns the asset and receives title papers reflecting that ownership. If one subsequently desires to sell, one can do so.
No more waiting for that elusive dream. Through fractional syndication one can capture the moment sooner and enjoy yacht ownership without having to meet the full financial outlay attributed to the outright purchase of a yacht.
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