Wolverley shared ownership narrowboat
Last updated 14th August, 2017
Welcome to Wolverley Owners' Club site
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New to the idea of share ownership? Click HERE for guidance.
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 brand 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.
The buy-in cost is £3,500 per share (payable to the vendor) + a supplementary charge of £500 (payable to the Club) towards repairs, upgrades & modifications, initial set-up, operating costs for the period to January 2018 and a contribution to the contingency fund.
Please be aware that there are a great many 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 vessel's market value: in our case we need to recover for each share 1/12th of what we have spent in setting the scheme up.
Barring unforeseen costs, it is anticipated that we will need to collect future subscriptions commencing 1st November 2017. There will be the option to pay by monthly standing order at no extra cost. The actual amount will be confirmed by the owners at the AGM but is expected to be around £45pcm (or £540 pa) + 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.
Members are able to purchase up to three shares each or indeed to subdivide their share between family or friends (subject to conditions).
5 Year Budget Comparisons
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