BOAT SHARE FOR SALE IN

SILVER CLOUD

BASED AT WROXHAM ON THE NORFOLK BROADS

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. For an indication of annual expenditure click HERE.

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

      Each syndicate member is allocated 4 weeks per year use of the boat. The date of the weeks vary as

      they are drawn for at the AGM of the syndicate. A week each from Spring (March/May), Summer

      (June/Aug), Autumn (Sept/Nov), Winter (Dec/Feb). A feature of this system is that once owners know

      their weeks they can then exchange them with other owners. If you are unable to use your allocated

      week you may either swap with another owner or you can offer the unused time for use by another

      member of your syndicate. As weeks become available under this system you may be able to take up

      unused weeks from other owners, the only additional costs being the diesel and pump outs.

  Are pets allowed on this boat?

      This is a totally "Pet Free" syndicate boat so unfortunately the answer is NO.

  Would I be guaranteed school holiday weeks?

      School holidays are not guaranteed but at the AGM, when the draw takes place, other owners are

      encouraged to co-operate by swapping school holidays that they have drawn with those who

      specifically need them. Many of the owners would rather not have school holidays and if they do draw

      them are happy to to swap. To view the weeks allocated to the share offered for sale click HERE.

  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. For an indication of annual expenditure click HERE.

  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. Silver Cloud was launched in July 1997 and 

      is therefore a relatively young boat. Having a GRP hull and being maintained to a high standard the life

      span of the boat is virtually unlimited. Over 90% 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?

      Silver Cloud is based at Moores boatyard in Wroxham.

  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 Moores 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.