Co-Ownership Opportunity – South of France – Targa 50

[jfm]

A new member, Targa50, whom I know in real life, has been trying to post the following but new members cannot get their posts up until checked by the mods. That seems to be taking ages, so I'm posting on Targa50's behalf. If interested please reply on this thread and if you want to pm then please Targa50 not me!
FROM Targa50:
Hello
We are looking for a couple/family to join us in purchasing a share of a new Fairline Targa 50 GT. We are a married couple and have secured a build 'slot' on a new Targa 50 for delivery in May 2012. We are looking for partner(s) to make this happen on the Cote d'Azur on a co-ownership basis. Specification is open, so early involvement will help all.

I am new here on mby, but my other half has been here for years and I know many of you. We are well connected in the South of France generally i.e. berths, logistics and local knowledge. This fractional idea will be of interest to those who consider the "Med Experience" as being high on their priorities.

The Fairline 50 GT will undoubtedly already be on your wish list and a commitment to the South of France a lifestyle choice.

Financials will work very well ... an initial outlay of £395k initial for a well-specced boat and £15k per annum will be along the right lines, for a 50% share (which we think makes the most sense)

We don't have school-age children so would be happy to share with a family who do, and agree they can have all the half terms, because half terms are neither here nor there to us.

If you are interested in the Targa 50 and want to enjoy a South of France base then please send a PM to “Targa50” but, (and I apologise for the qualification), time genuinely is of the essence so you are probably already thinking along these lines before you read this.

Thank you for reading
xx

 

[jordanbasset]

"A new member, Targa50, whom I know in real life, has been trying to post the following but new members cannot get their posts up until checked by the mods. That seems to be taking ages..."

"We are a married couple and have secured a build 'slot' on a new Targa 50 for delivery in May 2011."

That is a very long time to get approval to post

 

[petem]

Build slot may 2011 / time is of the essence? Doesn't make sense.

 

[Targa50]

Hello

Sorry that wasnt JFM's fault who was just trying to help me.

It should of course have read 2012

xx

 

[jfm]

Doh! Now corrected, to 2012.

 

[benjenbav]

Sounds like a great opportunity. Cost looks comparable with capital and running costs for the house we have in a not unadjacent location...and it floats! Not for me, obviously. I bet someone snaps it up, pdq.

 

[Nick_H]

I am new here on mby, but my other half has been here for years and I know many of you. We are well connected in the South of France generally

Ooh, can we try and guess who it is?

It's a great opportunity for a family with kids, because you will get nearly all the use you would have if you owned the boat outright, for half the cost. If only they'd bought a Princess 60 i'd be writing the cheque as we speak!

 

[wakeup]

Ditto agree with BJB, similar running and capital costs for us with house down there so a good deal if you want a pad on water in Cote d'Azur.

Can you say where the boat will be kept as SoF is a big place really and access to airport and cruising grounds is important? I am guessing that the boat is to be kept on a berth in Port Vauban since that is where JFM's mafia is based? Would be good to know. I assume that that the £15k pa is a contribution to servicing and berthing? Is the berth secure or owned by the other party?

 

[jfm]

Targa50 will reply I'm sure but meantime I can say:

1. yes the plan is a berth in Antibes (easy 15mins airport access, nice place, berths available)
2. Yes the 15k is a ballpark to cover exactly that, plus insurance, antifoul and the other normal fixed costs. Right now buying berths doesn't make the economic sense it used to, becuase the leases have only 12 years left. So Targa50's plan is just to rent a 15x5m berth from the capitainerie at the normal annual list price rate (which is not crazy pricewise). That does count as "secure" once you know them!

As Nick said it makes great sense for family with kids because all half terms, odd weekends, and 50% of the July/August peak time is all you'd use if you owned the whole boat

 

[wakeup]

Targa50 will reply I'm sure but meantime I can say:

1. yes the plan is a berth in Antibes (easy 15mins airport access, nice place, berths available)
2. Yes the 15k is a ballpark to cover exactly that, plus insurance, antifoul and the other normal fixed costs. Right now buying berths doesn't make the economic sense it used to, becuase the leases have only 12 years left. So Targa50's plan is just to rent a 15x5m berth from the capitainerie at the normal annual list price rate (which is not crazy pricewise). That does count as "secure" once you know them!

As Nick said it makes great sense for family with kids because all half terms, odd weekends, and 50% of the July/August peak time is all you'd use if you owned the whole boat

It won't be coded by sound of it so no charter income? Still sounds like a really good opportunity and set up indeed especially if you have got kids. If I didn't already have a place not so far from there I would seriously consider it.

 

[Targa50]

Can you say where the boat will be kept as SoF is a big place really and access to airport and cruising grounds is important? I am guessing that the boat is to be kept on a berth in Port Vauban since that is where JFM's mafia is based? Would be good to know. I assume that that the £15k pa is a contribution to servicing and berthing? Is the berth secure or owned by the other party?

Hello

The most likely location is Antibes as that seems to be the preferred location. However, we are very open-minded on that and is to be agreed obviously with any partner.

Is JFM part of the Mafia? Has always come across as such a nice man to me.

Yes the £15k is for the marina charges, insurance, planned servicing costs etc... a prudent number just to give a guideline (my other half says).

No berth secured at this moment on time so that we can leave it open as to the exact location. We have acquired berths in the region before and are convinced we shall be OK for this season and future years.

xx

 

[jfm]

It won't be coded by sound of it so no charter income? Still sounds like a really good opportunity and set up indeed especially if you have got kids. If I didn't already have a place not so far from there I would seriously consider it.

Well I think it could well be coded - makes sense in France as you know because coding can be one cog in the gearbox that reduces diesel cost (by qualifying for detax fuel on certain usage). That would then make it charterable if the two owners so wished. There would of course be somewhat limited time in the nice season. If any enquirer wants to go forward on the basis of a few weeks of charter each year to top up the kitty (and probably pay the £15k overheads I suppose) then they should get in touch with Targa50 I reckon, but it's not my call

 

[volvopaul]

Did I service your old T50?

 

[Targa50]

Did I service your old T50?

Hello

I assume you are asking me? No , definitely not. We have never owned a T50.

 

[jfm]

Oh heck. We're getting that effect where T50 replies but her posts are stuck for 6 hours in a moderator time warp, and then they fianlly appear, all out of order and creating Lakesailoring effects :-/

 

[Pinnacle]

Oh heck. We're getting that effect where T50 replies but her posts are stuck for 6 hours in a moderator time warp, and then they fianlly appear, all out of order and creating Lakesailoring effects :-/

It gets better jfm..........I need to go the Specsavers!

 

[jimmy_the_builder]

It gets better jfm..........

T50 has a SWMBO but is, according to your post above, a "her"!

Anything you would like to add/amend?

Well, my reading of the thread is that Targa50 has an 'other half' - but I think the only reference to a (gender-specific) swmbo is yours, old boy. Shoulda gone to specsavers praps?

Cheers
Jimmy

 

[DougH]

I'm finding this all very interesting.

Can you really cover the costs of berthing a Targa 50 in Antibe and include the costs of insurance, servicing etc for the sum of £30,000.00?

Would be very interested to know the breakdown.

Antibe is starting to look attractive.

 

[Pinnacle]

Well, my reading of the thread is that Targa50 has an 'other half' - but I think the only reference to a (gender-specific) swmbo is yours, old boy. Shoulda gone to specsavers praps?

Cheers
Jimmy

Indeed..................or maybe its the vin rouge!!!!

 

[Targa50]

Hello All
I'm sorry for the delay to my replies.
The problem is that I have no idea if my posts are accepted until I press SEND, so its not that I am slow, rather I appear to be subject to vetting of all my posts. I wonder how many wouldbe posters give up after 4 or 5 attempted posts?
Following in from Pinnacle's comments, I also questioned if the vetting is because this is a "Male Only" forum?
DougH asked about the costs of berthing down here. Our budget is €15,000 for a 15m x 5m berth (rates do vary) and Paententius Insurance say €5000, the rest is annual servicing and antifouling ----- then add 20% just to make sure.

xx