Leading fractional ownership super-yacht company YachtPlus last week launched the second yacht of its four yacht fleet in La Spezia, Italy. Christened Ocean Pearl, this stunning 41 metre yacht, identical to its Norman Foster designed sister yacht Ocean Emerald, will operate a series of cruises throughout the Mediterranean during the summer of 2010 and the Caribbean in the winter of 2011.
“We are delighted with the response from the owners who spent this summer on Ocean Emerald and are extremely optimistic about the future of the next three yachts that will continue to grow the YachtPlus fleet. The many enquiries we have received over the past few months and the very positive comments from current owners is a testament to the concept of fractional ownership which is rapidly becoming acknowledged as the most financially astute way in which to own a super-yacht,” said John Hare, Chairman of YachtPlus. “These are challenging financial times and increasingly more people, many former sole yacht owners, are turning to fractional ownership as the most cost effective, stress-free and viable way to own a luxury super-yacht,” he added.
This type of ownership allows members to maintain a prestigious and luxurious lifestyle at a fraction of the cost of sole ownership thereby freeing up capital for other forms of asset ownership that would otherwise be invested as a sole yacht owner. One of the major attractions of YachtPlus fractional ownership is that it removes all the hassles, concerns, unforeseen financial pitfalls and very substantial annual running costs incurred via sole ownership. The third yacht of the fleet, Ocean Sapphire is due to be launched in May 2010 and the fourth, as yet unnamed, is scheduled to enter service at the beginning of 2011. All four yachts, identical in design by world renowned architect Norman Foster, are being built at the Rodriquez Cantieri Navali boat yard in Sarzana, Italy and will initially spend the summer months in the Mediterranean and the winter in the Caribbean and will offer total exclusivity, privacy and pleasure to those participating.
Joining the YachtPlus Programme
The company is offering a 1/8th share in one of the four yachts with a buy-in fee of € 1.875.000. This will give the owners 30 nights a year onboard split between the Mediterranean and the Caribbean. Alternatively those wishing to only purchase a half fraction – 1/16th share – it will cost € 975.000 and give the owners 15 nights a year onboard again split between the Caribbean and Mediterranean. It is estimated that there will be an annual management fee of € 200.000 for a 1/8th share and € 100.000 for a 1/16th which will cover all year round maintenance, a permanent crew of seven, marine and hotel operations, 24/7 lifestyle management, transoceanic crossings , port charges and cruise itinerary management. Once the fleet is complete owners will have the option of sailing on any one of the four yachts. The fleet may expand to include other kinds of vessels in the near future. The term of contract will be for eight years after which the yachts will be sold and the owners will receive full pro-rated proceeds of the sale.
Key Benefits of Membership
– 24/7 concierge service available to handle all requests including bookings, itineraries, transport, shore excursions, hotels and so on
– Limited number of owners ensures high availability
– Cost of membership is a fraction of the cost of sole ownership
– One of the world’s most contemporary and futuristic yacht designs
– Exclusive and luxurious lifestyle offering the ultimate in hospitality, service and comfort
– Unique interior designed by Norman Foster
– Ability to visit small ports and islands
– Flexibility and variety of destinations