Andante shared ownership narrowboat
Last updated by KW on 15th November, 2020
Welcome to Andante 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.
Andante 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. It's also important to factor in travel costs to work parties as these costs would not be incurred in most schemes.
This scheme, is based on a secondhand boat that was originally designed specifically for shared ownership. Andante 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 often have owners whose circumstances have changed since they bought their shares, the details (price, holiday weeks included etc.) will be posted on our RE-SALES page.
We have a single 'Special' share, until such time as it is sold, which has priority for designated school holiday weeks. The remaining nine are 'Ordinary' shares, which have no automatic entitlement to school holiday weeks but can choose them, subject to availability.
Ongoing subscriptions are £56pcm + 25% surcharge for the 'Special' share. 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. Some do not contribute to a contingency fund so any major repairs or improvements are shared out over and above the regular subscriptions.
It's also important to realise that, for all sorts of reasons, individual shares are sometimes for sale at prices far below 1/10th of the vessel's 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!
Members are able to purchase up to three shares each or indeed to subdivide their share between family or friends (subject to conditions).
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