If you are keen on boats – ahem, luxury yachts, then you might like the idea of owning a timeshare in a luxury yacht for several years. If you do, be ready to part with a considerable amount of your spare cash – £1.7m to be exact. On top of your cost for one eight of these luxury yachts you’ll also be paying an extra £180,000 for an eight year contract.
This additional fee will cover staff costs for seven crew members, mooring costs, maintenance fees and “lifestyle management service” costs. When the contract runs out after eight years, the yachts will be sold and owners can share the profits on a pro-rata basis.
What Your Money Will Buy You
In return for your investment you’ll get 30 days on board of “your” yacht each year. In total there will be four of these luxury yachts. Designed by visionary and well known British architect Sir Norman Foster, each of these luxury yachts consists of 5,285 square feet of pure luxury. Foster who is well known for his designs of the London Swiss Gherkin and New York’s Hearst Tower has been hired to design these yachts by YachtPlus, the company behind this timeshares concept.
Each owner will own one-eighth of a share in a boat.
Giving millionaires a way out
The reason behind building these yachts was to provide cash-flow starved millionaires with an alternative to living the high life while not having to fork out the total to own one of these super yachts worth over £14m each.
Lord Foster was overheard saying: “Good design is about a commitment to finding the right solution – no matter whether we are designing a building, a new city or a kitchen. Part of the special appeal was to combine the emphasis on the views and the light with an architecture of movement – to integrate the lifestyle element with the hydraulics and the mechanics of boat design.”
The first of these luxury yachts was launched in La Spezia, an Italian port at the end of April.
Ocean Emerald is a picture of luxury with its four decks and 5,285 square feet of internal and external living space. There are five suites, able to accommodate up to 12 guests. Each of these are furnished with luxury Italian furnishings.