Wolverley shared ownership narrowboat

 Last updated 22nd October, 2017 

Welcome to Wolverley Owners' Club site

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New to the idea of share ownership? Click HERE for guidance.

 

   

The Wolverley Owners Club is a private (totally non-profit), 'shared ownership' scheme that operates the vessel on behalf of its owners.

Share ownership is a very cost effective way to give boat ownership a trial, or indeed a way to reduce costs after owning your own boat, especially if you have found you don't use it as much as expected.

It also works well for those whose own boat is on the outer reaches of the system and who can't spend extended periods cruising around. For the pros and cons of share ownership use link in the menu below.

Wolverley is at the 'low cost' end of the boat-share market in terms of recurring annual costs. There are numerous share schemes that are cheaper to buy into but then have much higher annual costs.

This a very new scheme, but based on a secondhand boat that was originally designed specifically for shared ownership. Wolverley has been in shared ownership since being commissioned for the 'Ownerships' company back in 2003 but the former syndicate no longer operates. We bought her in February 2017.

When there are shares available, and we already have owners whose circumstances have changed since they bought their shares, the details (price, holidays included etc.) will be posted on our RE-SALES page.

Ongoing subscriptions are £45pcm + 25% surcharge for 'Special' shares. This covers ‘fixed annual costs’, maintenance and repair as well as contributing to the gradual build up of a contingency fund in readiness for any major expenditure (e.g. full repaint) in later years.

 

Please be aware that there are a great many alternative schemes out there that are much cheaper to buy into but also much more expensive in terms of ongoing costs. To see some comparisons against other schemes, look HERE

It's also important to realise that, for all sorts of reasons, individual shares are sometimes for sale at prices far below 1/12th of the market value. This can simply represent the vendors enthusiasm to move on and can offer exceptional value for money. However, it can indicate problems with the boat, or indeed the scheme, that make the owner desperate to get out!

 

 

We seek partners with practical skills, keen to help look after the vessel. We are not expecting to recruit marine engineers (though they would be welcome) but people who have one or more competencies in the important areas detailed below and are willing to volunteer their time and skills: 

Routine Servicing:

Engine/gearbox oil & filter changes; battery checks/topping up etc.; refilling stern tube greaser; other routine checks such as hose and belt condition, tightness of connections, belts and bolts, bilge pumps and switches etc..

Paintwork Maintenance:

 Cleaning, polishing, rubbing down, priming, touching-up, cutting-in etc., essentially reducing the frequency of expensive repaints.

Interior Woodwork Maintenance:

Minor carpentry repairs, rubbing down, varnishing/painting.

Soft Furnishings:

Repairs/replacement of curtains, mattress/cushion covers.  

 

Each share represents an entitlement to at least four weeks use of Wolverley per year. Two of these weeks will normally be in the 'unrestricted cruising season' from April to October, with two more either early or late when the canals may be subject to maintenance stoppages. Any allocated time that shareholders are unable to use is available for use by other shareholders at no additional cost. Each share also represents one vote. Members are able to purchase up to three shares each or indeed to subdivide their share between family or friends (subject to conditions).

Owners are responsible for replacing diesel fuel used during their stay on board, along with any breakages/loss/damage that is not down to 'fair wear and tear'. Owners should expect to fund replacing a couple of gas cylinders each year but can claim reimbursement for any more than that.

Time allocations are on the basis of a predetermined bidding, negotiating and trading system. Allocations, will in the first instance, be on the basis of whole weeks, commencing and concluding at 5.00 pm on Sundays.

Although the boat has a notional winter ‘base’, probably on the summit pound of the Leeds & Liverpool, it is expected to be away from early April until late October and 'handovers' can take place wherever the boat happens to be.

 

For additional information, follow one of the links below:-

Share Ownership - is it for you?

FAQs

Club Constitution

Management

Maintenance

'Sharing' Practice

Time Allocation Scheme

The Agreement 

Re-sales

5 Year Budget Comparisons

The Boat

Wolverley's Travels

Roaming Practicalities

Breakdown Cover

 

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