The syndicate will comprise four owners, each registered with MCA and certified as owning 16/64ths of the boat, Iroko. This is not boat timeshare - in Iroko Syndicate, each of the four owners really owns exactly the same rights, control, privileges and expenses.
Each owner will enjoy the use of the boat for 12 weeks each year:
These periods will be on a rota which, in turn, will rotate annually so that each owner will eventually enjoy the use of the boat for every week of the year (except maintenance weeks) across each four-year cycle.
The boat will be based at Holy Loch Marina from October to mid-April and at Dunstaffnage Marina from May to September. Transit between bases will be undertaken by one or more owners by mutual arrangement.
Three weeks in late April/early May are reserved for annual maintenance/repairs and transit between Holy Loch and Dunstaffnage. One week (two weeks in “53-week” years) in late September or early October is reserved for transit between Dunstaffnage and Holy Loch and supplementary maintenance/repairs.
Annual costs are budgeted at £12,000 for 2919 and cover -
antifouling and hull cleaning
above waterline and deckhouse varnishing
external and internal painting/decoration as required
repairs and replacements
unallocated electricity and fuel
transit expenses between Holy Loch and Oban
contingencies with any surplus being placed in a contingency fund.
The monthly cost per owner in 2019 will be £250, payable by standing order and this will be adjusted annually according to a budget approved by all owners. Owners may be called upon to pay additional sums in the event of major or unplanned expenditure – subject to the prior approval of the expenditure by all the owners.
Two owners will be appointed annually to manage the boat and administer the syndicate. These are non-remunerative positions.
Owners should provide their own sheets, duvet covers, pillow cases and towels (or bring sleeping bags). Basic supplies - salt, pepper, spices, sugar, etc - are part of the boat's inventory and owners are expected to leave the boat with equal or greater supplies than when they arrived.
A 4G/3G/2G telephone and internet wifi router (with external antenna at top of mizzen mast) is installed. However, owners should bring their own micro-sim (all UK mobile networks supported).
A copy of the Syndicate Agreement with Schedule of Use (year planner) and 2019 Budget is available to download from this website. To obtain the password (without obligation), please register your interest with our exclusive brokers:-
Holy Loch Marina, Sandbank, Dunoon, PA23 8FE
Phone: (01369) 701 905
(Int'l code: +44 1369)