Key Points: 1: Equity Ownership – You are Tenants in Common 2: Walk on Walk off 3: Assistance available before, after and during 4: Yacht is not available for charter
Foundation Syndicate Partner
Usually in a new syndicate we have a Foundation Syndicate Partner who orders the boat from the builder and pays the deposit. This makes the sale of the shares in the syndicate much easier because it means we can put the ex-factory date on the calendar and start the cruise planning to fit the seasons. Typically, the build time is in the order of 12 – 18 months.
The Foundation Syndicate Partner enjoys a lower price for the share or shares and further, selects the finishes, style, and factory options according to his or her preferences.
Joining a Syndicate
This will not only please your accountant as your cost of a yacht is shared but it also enriches your sailing experience because of the exchange we encourage between owners. People talk about where they have been and who they have seen. It also gives you access to a wealth of knowledge that comes from our personal experience at Mariner Group in most of the oceans of the world.
An enquiry generated by our marketing activity will hopefully lead to a conversation with Trevor Joyce and maybe your expression of interest. The next step is the full syndicate agreement and if the terms are acceptable to you a deposit is then payable to confirm your place in a syndicate.
Once a syndicate is fully subscribed, we start a series of on-line meetings where we discuss the details on options and the downstream planning of the hand over and delivery to the base. The process detailed in the syndicate agreement will have determined the initial use of the boat but then the online booking system takes over
What does it cost
The price of a share in a syndicate varies and reflects the cost of the yacht plus the factory and other options, the full cruising equipment and the delivery.
Syndicate partners may take more than one share.
A share owner may offer a share for sale at any time.
At the end of the three year management contract the yacht is offered for sale and the proceeds shared between the share-holders, or the management agreement can be extended.