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Investment moorings?

Phil Speight

By Phil Speight
in General Boating

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Phil Speight Rising Star

Phil Speight

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Just a thought , provoked by a letter being circulated to boat-builders by B.W. It appears that moorings sold by BW at auction do not require the highest bidder to actually own a boat. This is clearly stated , apparently as a virtue of the scheme , in the letter. So, should the scheme become the norm not only will wealthy boat owners be considerably better placed to get moorings but , and this is my point, will wealthy investors be able to buy multiple moorings that they in turn can sublet ? Remember - there is already a shortage of moorings. Is this another type of license - one which allows both the licensee and the license holder to print money? I`ve surely got it wrong - I MUST have got it wrong .

I am hoping that the estimable Eugene ( congratulations by the way) will be able to show me where I`ve misunderstood the situation. If it makes me look daft that`s fine- I can stand it.

Cheers

Phil

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Norman Bond Engager

Norman Bond

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Hi Phil,

 

If true I would imagine this to be an oversight on BW's part - in that they would not have thought someone who did not own a boat would be interested in bidding.

I remember reading an analysis on one of my few trips into the financial section of a "well known daily" that said with manufacturing profits falling the main driver in UK financial growth was the rocketing charges in the "buy to let" market. While I would like to say that Prescott was doing the same to mooring charges I can't see that the profits from moorings would be worth the effort. The "cock-up" theory seems a better fit.

 

 

By the way, I have always followed your posts with some interest and have never thought that any of them made you seem daft. Some of those who have spoken out against you however...

 

 

Cheers

 

Norman

 

 

PS I was working in West Bromwich on Wednesday and came across an old copy of Canal & Riverboat on a newsagent's shelf. It was from April 2005 but being sold amongst the current magazines as if it was new and at its full cover price. I don't know if this says anything about the people who live there, but I bought it partly on noticing that you had a column in there (the other part being the Bollards to Brum article). Brought a smile to my face on what was otherwise a pretty drab day. Thanks!

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Phil Speight Rising Star

Phil Speight

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If you 'won' a mooring for £2k and there was someone to sublet it to at £2,200 then why wouldn't they bid in the beginning?.

I really don`t know. I suppose I`m just uneasy about the whole idea of auctioning moorings ( without necessarily being qualified to actually have an opinion ) . Another way of looking at the invitation for non- boat owners ( because it certainly seems like an invitation to me ) is to compare it with people buying dwellings in attractive areas without any intention of actually living in them while locals are forced to move away or live with relatives because they can no longer afford to pay inflated prices for housing in their "home" village.

Incidentally - I miss your battlecruisers - I just bougt a wonderful book about Hood - The Anatomy of a Ship.

Cheers

Phil

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Eugene Baston Contributor

Eugene Baston

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I am hoping that the estimable Eugene ( congratulations by the way) will be able to show me where I`ve misunderstood the situation. If it makes me look daft that`s fine- I can stand it.

Cheers

Phil

 

Hi Phil

 

I can understand your quandry, but the answer is simple in that moorings should not be sub let under the contractual terms and conditions of the standard BW long term mooring permit agreement. I don't have a copy to hand but it's in the T&Cs.

 

That's not to say there's the occasion flouting of this T&C, nor the sale of moorings with boats, equally disallowed. But when the time comes to renew the mooring permit, and details have changed (without prior BW knowledge), .......

 

On the matter of benefitting from a mooring when not having a boat, that's not all that unusual either. Although 'benefitting' is the worng word, since paying rent for something that you can't use (but will need in the future) is a bit annoying. The advice is always to have a mooring before you own a boat, unless you are one of the fortunate minority who can genuinely continuously cruise the UK's canal and river network. That important point was sadly missing from the article about Polish (country, not boat style :) )boat builders which appeared in yesterday's Times.

 

Best wishes, Eugene

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Scotty Proficient

Scotty

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It's a similar situation to the DVLA selling number plates.

It should have been a great way for them to generate money. But what happened was that a small group of people started buying all the good ones, then selling them on at a huge markup.

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Eugene Baston Contributor

Eugene Baston

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I did, a year later its under closure. So really Eugene; that is a bit of throw-away advice isnt it?

 

No, it's not Neil.

 

To be absolutely correct, I should have written "The advice is always to have a 12-monthmooring before you own a boat". Or a three, or a six month mooring for that matter. The point being that the contract is for that time limited duration.

 

I understand that you are upset about the closure of the proposed moorings where your boat currently is, and I am genuinely sorry that you are upset. I can;t say any more than that on your specific case, at least not in this public forum.

 

Best wishes, Eugene

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