FAQs

Please see the accompanying Seabbatical YouTube clip that explains how catamaran syndicates typically work. Yacht Syndication: An Owners Perspective Points made in the video: 1. Specify a fully-optioned boat – attractive to all users. 2.Determine the number of Shares (5 for ‘Id’) 3. Set a Budget (to buy and operate) 4. Set up a Usage Booking System 5. Establish operating By-Laws / Rules 6. Find like-minded Shareholders 7. Get a Boat Secretary to run the boat’s maintenance, bookings etc. Subscribe to the Multihull Central channel for more background and entertainment. See the economical self-management approach to a boat syndicate here, and Best Catamaran under 50 feet?

Sailing is a healthy fun and adventure for all the family to share together. However, buying and running your own yacht can be a very expensive and daunting task. Financially, it’s a big responsibility to look after the costs on your own. There’s also a large time commitment required to ensure proper maintenance of your vessel. Pooling resources in a syndicate makes sense and brings a small group of like-minded people together. The Seawind 1260 “Id” Syndicate is led by an owner (Geoff Johnson – Geoff’s Marine Services (GMS)) acting as the Boat Secretary and providing maintenance. GMS will manage these commitments on shareholders’ behalf at no extra cost. By becoming a syndicate member, you will only outlay 20% of the capital cost of a luxury yacht. You will have access to your boat to sail throughout the year, but you won’t need to spend precious time maintaining and cleaning your boat. You can simply enjoy your time out on the water without all the hassle of preparation and maintenance.

Our “Id” Syndicate has a maximum of five (5) owners participating. Geoff currently owns the SC696 contract for the next available Seawind 1260 and now invites four (4) other Owners to join him.

Syndicate owners can sell their share at any time. The “Id” Share Agreement envisages a review after 5 years of operation to decide to continue as usual or to sell the boat.

GMS will operate an online booking system Calendar on its web site that can be accessed through a computer or mobile device. This is a simple and efficient way for Share Owners to access the Boat Roster to book their Usage Periods. This ensures transparency for all owners on when the boat is available for each party’s use and facilitates trading of Usage Days between owners at any time.

Absolutely! This is a private syndicate operating for the benefit of its co-owners. All bookings can be changed by mutual agreement. Owners who cannot use their booked Usage Day at any place in the Calendar or at the last minute create Stand-By Days for others to use.

The “Id” Syndicate has an equitable allocation system that allows each owner 72 sailing days a year (5 days are for programmed maintenance – anti-foul etc). In addition to these core days each year, you have the flexibility to take Standby Days and enjoy more sailing time when the boat is not booked by others. The Syndicate Calendar recognizes the Special Periods of Xmas, New Year, Easter, School Holidays and Whitsunday Winter Events which will be allocated within an agreed Usage Time Period on rotation to give all Owners this Usage over time. The draft Roster will attempt to give each Owner 4 consecutive weeks use per year (unless otherwise varied on request). Stand-by Usage and all Usage Periods can be traded between Owners via email and confirmed in the current Roster published in the Vessel’s web site Calendar. This allocation gives all owners a fair and equal opportunity to make use of their vessel all year round. Owners are free to vary the booking policies by agreement between themselves.

“Id” is owned by the syndicate members. Each owner receives a private ‘Certificate of Title’ from the Syndicate as proof of their individual share ownership. Because each member of the syndicate owns equity in the boat, everyone has a vested interest in ensuring that the yacht is looked after and maintained to high standards to preserve the value of the investment over time.

In addition to marine regulations and navigational requirements, all owners abide by a common set of owner usage rules. These common-sense rules govern the usage of the vessel to ensure that it is operated in a safe and considerate manner at all times. They can be varied by the mutual agreement of co-owners at any time.

The yacht may only be operated by a Shareowner who is an Accredited Skipper or another Accredited Skipper. The owner may nominate additional Accredited Skippers but the owner is ultimately responsible for the safe operation of the boat. All Accredited Skippers must undergo an induction and training program to RYA Standards in accordance with the “Id” Usage Rules. RYA Training is available from providers like www.learn2sail.com.au . Your yacht is for private recreational use and cannot be rented or chartered because it is not fitted out nor licenced to do so. The SC696 Build is an “Owners Version” with 3 luxury cabins only - not 4 as in Charter Versions.

“Id” is based at Mooloolaba Queensland. The jetty and pontoon berth at 46 Beltana Crescent Buddina 4575 at Geoff and Jenny’s house is on the main canal leading to Laurie’s Marina from the Mooloolah River. Google Maps Google Earth This location is a haven for boaties with the Mooloolaba Spit only a few hundred metres away in our tinny or tender. The largest fishing fleet on this part of the east coast provides several hundred thousand tons of seafood each year. There are several marinas here, boat chandlers, marine service providers, many restaurants and abundant night life. A perfect careening beach for cleaning the hulls is a sandy bay nearby at the mouth of the Mooloolah River in the lee of Point Cartwright (in front of the high-rise apartments). This location provides easy access to some of the best sailing grounds and destinations on the east coast of Australia including Moreton Bay and the Broadwater to the south, Noosa Bay and the Fraser Island / Sandy Straits to the north. Whale watching is right on our doorstep from May to October.

Many Seawind owners live interstate or overseas and choose to take advantage of the reliable sub-tropical weather of South East Queensland for their sailing holidays. The Buddina berth is easily accessed from Sunshine Coast / Maroochydore Airport (15 minutes on Sunshine Motorway) or Brisbane Airport (70 minutes on M1 Freeway). The Seawind 1260 is the accommodation equivalent of an 82 square metre (12.6 x 6.5m) apartment. The major shopping facilities at Kawana are less than one kilometre (1 km) away.

Two days professional sail training with a RYA accredited sailing instructor is mandatory for “Id” co-owners. Several Skippers can be trained for Accreditation at a time using our own boat. The quarterly Operating Charge covers known service and maintenance tasks and includes items and services such as berthing, registration, insurance, engine servicing, cleaning, anti-fouling, owner communications and boat management. A Sinking Fund component is included in the Operating Charge to aid future equipment replacement. Diesel fuel costs are paid separately by each owner, each trip. Owners are individually liable for any damage caused during their usage of the vessel. Damage is covered by the yacht’s insurance policy. An insurance excess may apply. Where an item requires replacement due to wear and tear, the cost of the item is amortised across the syndicate owners. An example of a wear and tear item is the replacement of a battery bank, ropes or a tender. These items typically require replacement every five to seven years. By splitting these costs between five owners, the outlay is kept to a minimum for each owner but everyone in the syndicate benefits.

From time to time, co-owners may collectively decide to make improvements to their yacht. This might include additional sails or updated electronics. A proposal is distributed to all owners for consideration and, if owners are mutually agreeable, the cost is amortised across the syndicate owners. In the unlikely event that there is disagreement between owners, GMS will endeavour to find a comprise between the owners or abandon the improvement. The advantage of a private syndicate is that there are no formal Body Corporate-like restrictions and shareholders can make any changes that they mutually deem to be desirable that act in the best interest of all owners.

You are free to take the yacht to any safe and navigable waters within the time constraints of your bookings. Day sailing along the Sunshine Coast is easily done from Mooloolaba. South East Queensland has attractive year round sailing conditions which ensure that owners have the maximum opportunity to get out on the water. Moreton Bay is an ideal cruising ground with destinations such as Yellow Patch, Tangalooma, Horseshoe Bay, North and South Stradbroke Islands and the Gold Coast Broadwater. The Sandy / Fraser Straits are an untouched haven for boaties in protected waters.

Some “Id” SC696 Syndicate owners are likely to pool their Usage Periods back-to-back so that excursions further afield like wintering in the Whitsundays can be achieved. Many family members prefer to “fly-in” to meet the boat at a comfortable anchorage when the wine and cheese are being served. Co-operating owners can book contiguous Usage Periods and temporarily relocate the yacht to another location within the time frame of their bookings. Owners that do not participate in the excursion are not adversely impacted because Usage Days can be traded on the Roster Calendar. Through the collaboration of owners and use of the 18 month rolling Calendar, excursions to locations such as the Whitsundays/Hamilton Island, the Keppell Islands, Hervey Bay and the Great Sandy Strait or south along the east coast are easily done.

Owners simply need to tie up the boat at the pontoon, close the sailbags, connect the shorepower, remove any personal items or rubbish, clean the interior and exterior ready for the next User and lock the boat. When possible and available, GMS will inspect the cleanliness. If cleaning and preparation is incomplete, GMS will charge a fee to wash down the decks and detail the vessel and prepare the vessel for its next outing.