Syndicate Ownership . . .

. . . a brief outline

 

The Iroko Syndicate offers the opportunity to own 25% of a very comfortable "classic" yacht and enjoy 12 weeks each year of use - to cruise the Clyde and West Highlands, to charter out or simply to take a break for a few days in the marina.

 

Syndicate ownership (often called fractional ownership) is usually applied to the more expensive end of the yacht market where the main attraction is the sharing of the very high capital cost of purchase - often shares may be just three or four weeks of the year.

 

However there is a very sound case for syndicating classic wooden boats where a perceived high annual maintenance cost is necessary to maintain part of our nautical heritage.  In reality, and thanks to modern treatments, the maintenance of a classic wooden boat need not be unduly greater than many plastic boats   For example, even with only four syndicate owners, Iroko's regular annual expenses per owner are reduced to less than the cost of standard marina fees per year!

The financial benefit of our

syndicate ownership is that

each member personally saves

75% of the annual expenses!!

 

For further information, or to register your interest to inspect the documentation, please apply to our exclusive brokers:-

 

          Swordfish Marine

          Holy Loch Marina, Sandbank, Dunoon, PA23 8FE

 

          Phone: (01369) 701 905

          (Int'l code: +44 1369)

 

          Email: sales@swordfishmarine.co.uk

 

 

Purchases prior to 28 December 2018

 

A holding deposit of £500 will reserve your syndicate share for up to fourteen days while you satisfy yourself on the terms of the Syndicate Agreement.  If you wish an independent survey of Iroko during this time, Holy Loch Marina can arrange a lift out at your expense.

 

The balance of 50% of the purchase price is payable on or before the end of the fourteen day period and the remaining 50% is payable not later than 27 December 2018.

 

Note that where payment in full is made before 28 December 2018, new owners can start to use the boat immediately for the pro rata number of weeks remaining in the year. In such cases, there will be no service charge for this period but owners are responsible for the cost of any electricity and fuel that they use.

 

Purchases after 28 December 2018

 

A holding deposit of £500 will reserve your syndicate share for up to fourteen days while you satisfy yourself on the terms of the Syndicate Agreement.  If you wish an independent survey of Iroko during this time, Holy Loch Marina can arrange a lift out at your expense.

 

The balance of the purchase price is payable on or before the end of the fourteen day period and ownership rights commence immediately payment is made.

 

Iroko's Original Certificate

MCA Registration

 

On or before 28 December 2018, new owners will be registered with MCA as owning 16/64ths of the boat and this will be shown on the boat's certificate of registration and, therefore, within the records of MCA.  Please note that MCA regulations state that the certificate must remain on board the boat.  However you will receive a copy for your records, on the understanding that such copies have no legal significance or status.

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