SHARE FOR SALE IN

BLUE STEEL

BASED AT ST. JEAN de LOSNE ON THE FRENCH WATERWAYS

FREQUENTLY ASKED QUESTIONS ABOUT SHARED OWNERSHIP

  Why shouldn't I buy a boat for myself?

     There are several reasons for not buying your own boat, the biggest reason being the initial capital

      outlay. Then there is the cost of the mooring, licensing, insurance and the maintenance. As the sole

      owner of a boat you would probably only use it 3 or 4 times a year which is a not advisable as boats

      like to be used otherwise they deteriorate much faster than if they are run regularly.

  What advantages are there in shared ownership?

      Shared Ownership is a solution to cater for those who were definitely not going to make use of a

      boat more than 4 weeks a year.

      This system enables you to buy into a far higher quality boat than you may normally be able to

      afford and then to reduce the running costs down to only 8% of what they would be in sole

      ownership.

  How often can we use the boat as a syndicate member?

      Each syndicate member is allocated 4 weeks (2 x 2 weeks) per year use of the boat. The dates of  

      each fortnight varies on a rotational basis each year. Turnaround day is Thursday.

  How much is a share going to cost me?

      Each syndicate member pays the share purchase price being asked by the current owner of the

      share and they then contribute to the annual operating costs such as mooring charges, insurance,

      licence etc. and also to each year’s winter maintenance costs. The contribution amounts to 8% for

      each four week shareholding.

  How much will my share be worth if I want to sell it?

      This is obviously dependant on supply & demand but over recent years the value has remained fairly

      constant with shares holding their value. An owner selling their share determines the price at which

      they wish to sell.

  How long will the syndicate be in existence?

      The syndicate will be in existence for the life of the boat. Having a steel hull and being maintained to

      a high standard the life span of the boat is virtually unlimited. Over 75% of the syndicate must be in

      agreement before the boat can be sold so therefore this is unlikely to happen.

  Can the boat be hired out or offered for skippered hire?

      Definitely NOT. There must be a share holder on the boat at all times.

  Where is the boat based?

      Blue Steel is based at St. Jean de Losne near Dijon, France.

  What is expected of a syndicate member?

      Each syndicate member is responsible for the boat whilst under his/her control and for any self

      inflicted damage such as broken windows and damage to carpets or upholstery. At the end of each

      weeks use the syndicate member is responsible for refuelling, gassing, pumping out cleaning the boat

      so it is completely ready for the next owner.

  What happens if the boat has a breakdown?

      If you have a breakdown that you are unable to fix yourself you would contact H2O boatyard and

      a mechanic will attend to rectify the problem. The cost of this service is invoiced and paid out of

      syndicate funds. As the boat has regular maintenance carried out incidents of this nature will be few

      and far between. Payment for self-inflicted problems will be the responsibility of the syndicate

      member using the boat.

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