Med-based Motor Yacht Syndicates, any experience?

[Sticky Fingers]

After a bit of a false start I’m interested in the idea joining (ie buying into) an existing syndicate, and want to hear from anyone who may be a member. Basic requirements would be SoF based eg Antibes, flybridge or sports cruiser under 20m LOA, 3 good cabins / no bunks, I want about 6 weeks per year so an eighth or maybe sixth share would be ideal. So my question is whether anyone is a member of a syndicate and can offer any advice. @petem you’re excused…

 

[Akers_like]

Ex member. Syndicate of 3, Thames based, 40ft TSMY.
I adapted small aircraft syndicate agreement, main clauses being exit strategy, valuations, timescales etc.
Eight in my opinion is far too many to reach any agreement on issues that arise.
I did consider @petem deal a while ago, unbeknown to him, which I think would work well. Just wrong location for me.
Good luck, keep us posted on progress.

 

[Sticky Fingers]

Thanks. Six or eight aren’t uncommon for Med boats, the boat is professionally managed with a detailed contract and terms of use, and turned round between uses, so no work required by syndicate members.

 

[itspaul]

possibly have some shares for sale in a fairline t52 but based in Majorca.

 

[Sticky Fingers]

possibly have some shares for sale in a fairline t52 but based in Majorca.

Might be interested albeit not sure of the location… please could you pm me a few details?

 

[Parabolica]

Might be interested albeit not sure of the location… please could you pm me a few details?

Location is fantastic. Take a trip out there and suss it out, plenty of great cruising and a boating mecca.

i’m off out there again on Tuesday for the week, just to escape the turn in the weather. If i could afford the legal inevitability, i’d not come back either

 

[Sticky Fingers]

Yep I know the location, it’s a great spot. Just would prefer to be in Antibes…

 

[Sticky Fingers]

Location is fantastic. Take a trip out there and suss it out, plenty of great cruising and a boating mecca.

i’m off out there again on Tuesday for the week, just to escape the turn in the weather. If i could afford the legal inevitability, i’d not come back either

You‘re not thinking of syndicating your Predator by any chance…???

 

[petem]

Ex member. Syndicate of 3, Thames based, 40ft TSMY.
I adapted small aircraft syndicate agreement, main clauses being exit strategy, valuations, timescales etc.
Eight in my opinion is far too many to reach any agreement on issues that arise.
I did consider @petem deal a while ago, unbeknown to him, which I think would work well. Just wrong location for me.
Good luck, keep us posted on progress.

It's a shame that the location didn't work for you.

Incidentally, one of my partners is trading up to a Phantom 50 so a 1/3 share in our boat is available if anyone is interested.

Details of the boat can be found here - Fairline Targa 34 For Sale.

I can send more photos on request.

Pete