THE BOAT

 

PROPOSAL FOR THE ESTABLISHMENT OF A BOAT OWNING GROUP

 

 We are very happy to announce our intention to form a group, along similar lines to the existing aircraft syndicates, to own and operate a boat to be based in the Mediterranean.

 

As a vehicle for this objective, we are have already established a separate company, LAC Marine Ltd. This company will buy and own the boat along the same lines and our Archers and be responsible for its management, finances, etc. I believe you are all familiar with the general arrangement by now, but naturally all will be discussed in detail further down the line.

 

The Boat

 

Roy and I have been studying and consulting people in this respect and we have also attended the London Boat Show where we were able to talk to a number of boat builders. In essence, we are talking about a Power Boat of the cabin cruiser variety (a modest gin palace) which will ideally have all the following characteristics:

 

• 36 to 38 feet overall length
• Twin Diesel engines
• 2 dedicated, enclosed, sleeping cabins
• An indoor salon
• Toilet and Shower (heads)
• Kitchen (galley)
• Hot & cold water
• Aft open deck
• Upper fly-bridge deck
• Up to date, comprehensive navigation equipment
• VHF radio
• Dinghy
• Cruising speed of 20 to 22 knots
• Range 250 nm at a fuel burn of 80 ltrs /hour

 

As an indication of the type we have in mind, you might care to log in to www.jeanneau.com and follow the links to the Prestige 36 model. These boats cost in the region of £200,000 when new but we would be looking at the second-hand market, say a boat built in 2002-3 with less than 400 hrs total time.

 

Location

 

Initially we would base the boat in Spain, probably around the Marbella area (Puerto Banus) or the Balearic Islands. One attraction of these locations is that in the very high season (July-August) our boat can be let out as a day boat (with a crew) at very high rates. More on that later.

 

 

Investment

 

We are contemplating a group of 8 to 10 shareholders at £10,000 each.

 

There would be a monthly subscription in the order of £100 and an hourly rate of about £60 when the boat is on the move. Use of the boat as a hotel, whilst moored, will be free of charge to the owners.

 

We would also consider allowing non-owner, selected Club members to use the boat (with a day skipper only) at a daily accommodation rate plus a higher hourly sailing rate.

 

Bookings

 

To be discussed, but basically I would favour the “one booking at a time” rule plus as standby option.

 

Training

 

Whilst no licensing requirements apply in the UK, a basic certificate is mandatory in most European countries. An International Certificate of Competence can be obtained, in the UK or in Spain (where it is quicker, cheaper and easier) in a couple of days. The Mediterranean is classed as non tidal.

 

In any event, the marinas we have spoken to have “day skippers” available for hire at approximately 150 Euros per day. I believe a couple of days with a skipper would give each of us all the initial practice we need.

 

In Summary

 

We hope you get the general idea. We are sending this e-mail to a few club members at a time and all we are looking for at the time is a simple expression of interest.

 

In principle, Roy and I will be taking up one share each and another two Club members have responded positively. That leaves 4 to 6 slots. (Though we can launch the project with as few as 6 members in total) Please contact the Club for further details.