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Old 07-02-2020, 17:56   #1
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Join Date: Jul 2019
Location: Christchurch New Zealand
Posts: 5
Catamaran Ownership Syndicate

I’m looking for 2 or 3 like-minded Kiwis (plus me) to jointly purchase a pre-owned 45-50’ blue water cruising catamaran. Owners will own an equal number of shares in an NZ company that will own the yacht. Owners will have exclusive use of the yacht for a pre-determined and continuous period of 3 or 4 months yearly. Owners are free to swop periods as they may wish. It is envisaged the yacht will spend the NZ winter in the South Pacific Islands and would return to NZ for the summer. A shareholders agreement would include a memorandum of understanding detailing maintenance and service standards which the owners will individually commit to. Upgrades and big ticket repairs (where possible) will be agreed in advance. It is expected the shareholders will agree to a fixed annual maintenance contribution estimated at 10-15% of the share value. It is envisaged shares will be in the NZ$150,000 - $200,000 each (3 or 4 shares) and the yacht will be in excellent condition and fully equipped for blue water cruising at the time of purchase.
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