The concept of fractional ownership in the UK is fast becoming acknowledged as the logical and financially astute way of owning high-end luxury products – be it yachts, property, planes, cars etc. The days of sole ownership of super-yachts are rapidly diminishing owing to the extremely unsettled global financial markets and the very substantial costs of running a private yacht. One of the many benefits of fractional ownership finance is that it allows owners to enjoy a luxurious and prestigious lifestyle at a fraction of the cost of sole ownership while freeing up capital for other forms of asset allocation that would otherwise be invested as a sole owner.
Formed in 2005 by a group of highly successful financial investors and entrepreneurs, YachtPlus has rapidly established itself as a front runner in the business of boat fractional ownership and in April 2009 the company launched one of the most spectacular and exceptionally beautiful contemporary yachts to the market – Ocean Emerald. In March 2010, the second unit of the Yacht Plus fleet was launched – Ocean Pearl. These 41 metre masterpieces are designed by the internationally renowned architects at Foster+Partners and will be the first two yachts of four identical super-yachts to be built over the next two years by Italian boat building specialists Rodriquez Cantieri Navali.
With a strong emphasis on quality, space and light, these stunning four-deck yachts will have five suites for up to 12 guests at any one time who will be looked after by a permanent crew of seven highly trained and experienced staff. By means of the fractional ownership developments described in this article, owners will have up to 30 nights a year exclusive use of any one of the yachts.
All arrangements, from bookings to transport, jet and helicopter transfers, will be handled by the Yachtplus management company who will take care of all requirements, thereby removing all the hassle and headaches associated with sole ownership.
An additional benefit of membership is that for those who do not wish to spend their total time allocation onboard, Yachtplus can arrange charters on behalf of owners during the available periods.To join the YachtPlus programme you simply purchase a 1/8th share in a super-yacht which will give access to the entire fleet, with 30 nights annually onboard split between the Mediterranean and Caribbean. Running costs are divided pro-rata, so for a fraction of the cost of purchasing your own yacht you will have an entire fleet at your disposal. Caribbean fractional ownership becomes an attractive reality.
To join the YachtPlus programme, the company is offering a 1/8th share in each of the yachts with a buy-in fee of euro 1,850,000, making it a comparatively affordable fractional ownership for this sort of yacht. This will give the owner 30 nights a year onboard the yacht, initially split between 15 nights peak season in the Mediterranean and 15 nights peak season in the Caribbean. Once the fleet is complete, owners will have the option of sailing on any one of the yachts on worldwide itineraries. It is estimated that there will be an annual management fee of euro 200,000 which will cover all year round maintenance, a permanent crew of seven, marine and hotel operations, 24/7 YachtPlus Lifestyle Management service, transoceanic crossings, mooring and port charges and cruise itinerary management.
The term of the contract will be for eight years after which the yachts will be sold and the owners will receive full pro-rated proceeds from the sale. The yachts are estimated to hold 50% their value.
The Ocean Pearl was designed by Foster+Partners. It has a length of 41 metres, maximum beam of 8.40 metres, displacement 205 tons, and it is powered by two 1044 kW Caterpillar C32 diesel engines that give is a top speed of 17.5 knots, and a cruising speed of 16 knots. Its 26,000 litre fuel capacity gives it a range of 2,400 nautical miles at 12 knots, with fuel consumption at 127 litres an hour at this speed. It has two active fin stabilizers which also operate at anchor, for a smooth ride and equally smooth conditions when anchored offshore. Its water capacity is 8,000 litres, with the possibility of producing another 6,200 litres per day by means of its watermakers. The comfort of the vessel can be gauged from the photos, making it an enticing scheme for fractional vacation ownership of a remarkably exclusive nature.