Advice on a boat purchase 45ft 1989 Springer

[Greenboaters]

We’re looking to buy our first narrowboat, we’re seriously considering a 1989 45ft Cruiser stern Springer. We have a hull survey from Sept last year which concludes 

 

‘This craft has been well maintained in previous ownership and repairs have been undertaken as and when necessary.
 Further repairs as outlined in this report have been completed professionally to a high standard and the hull is in an insurable condition.’

The survey also states that no signs of galvanic or microbial corrosion were noted to the hull. We have receipts for the repairs mentioned which included a 6mm doubler plate to the starboard side, some pad welding of some isolated pits and replacing of the rudder stock. It was also blacked and anodes replaced. It has a galvanic isolator. 

The engine is a keel cooled Mitsubishi k4d marinised by Thornycroft. Last oil and filter change was Jan this year. Recent drive belt, water pump and drive plate.

 

The rest of the boat is very similar to others we have viewed (similar lengths/ages/ inverters, solar panels etc) although surveys for some of the other boats that are comparable price wise (£30/35k) have been less positive (including widespread pitting, hulls that would not be be insurable, multiple layers of overplating etc) so this boat appears to us to be a good option. The price is £28k - does this seem like a reasonable purchase? We are doing as much research as we can online but would really appreciate the views of some seasoned boaters ?

Many thanks for your time and input! 
 

 

 

[Athy]

Welcome to the forum.

Springers were mass-produced as cheap boats. Opinions on them vary. I used to have one and I like them - they have character and use internal space well. £28,000 is a rather high price for a 32-year old boat which was budget craft in the first place. But it sounds as if it's been well looked after. 45 feet is a good size for two people.

 

One thing sounds a warning bell: why was the boat surveyed eight months ago? Was the survey done for a customer who then rejected the boat?

 

Also, you say that your research has been on line. Have you actually visited and stepped aboard this boat?

[Keith M]

You may find that when you come to insure this craft that the insurance company you select will require a new out of water survey.

[Greenboaters]

Thanks for your reply! 
 

Yes we have viewed the boat, the engine started fine and although we think the interior could do with some love, we’re trying to focus on making a sensible choice re the structure, engine etc as we’re fairly handy and are confident we can spruce up the interior to suit our needs/wants. 
 

The research online has mainly been in terms of what else is available in a similar length and budget and also to understand the hull survey as best we can.

 

The current owner only bought the boat in August/Sept last year so I believe the survey was part of that purchase. He says his situation with work has now changed and the liveaboard lifestyle is no longer compatible which is why he is selling it so soon. We have no reason to doubt that and with Covid etc it seems plausible. 
 

I have read that the Springer boats were the budget end of the spectrum, does this put a ceiling on the value of a boat like this do you think?

 

Thanks for your input! 

Ah that’s interesting Keith, I’ll make some enquires about that. Thanks! 

[Alan de Enfield]

22 minutes ago, Greenboaters said:

We’re looking to buy our first narrowboat, we’re seriously considering a 1989 45ft Cruiser stern Springer. We have a hull survey from Sept last year which concludes 

 

Have your own survey - a member here had his boat go from 6mm thickness to less than 1mm in 1 year. (Corrosion in a marina.)

You will probably require an insurance survey in your own name to insure it fully comprehensive, but if you are happy taking risks, you can insure it 3rd party only (if it sinks you lose everything)

 

Your money and your choice.

 

3 or 4 years ago that boat would have been £10k (ish) but all the TV programmes, newasparer articles and 'how to get out and avoid Covid when you cannot travel' have made boat prices crazy. Once the C19 situation starts to let up and folk can go back to Teneriffe, the Costas, Italy etc then I think boat prices will tumble.

If you buy at the top of the price curve, either plan to keep it 'as a forever boat' or be prepared to take some big losses.

 

Good luck whatever you decide.

[Athy]

Alan makes good points, though I can't entirely agree with his comment about prices. When I bought my Springer (2010)  their prices had gone about as low as they could; since then, prices of all but the total wrecks have been steadily climbing, I suppose the decent survivors have now reached "classic" status, like Morris Minors, VW Beetles and the like.

[David Mack]

2 hours ago, Keith M said:

You may find that when you come to insure this craft that the insurance company you select will require a new out of water survey.

Most insurers want an out of water hull survey to insure a boat fully comprehensive if it is  more than 25/30 years old. But be aware that insurers requirements vary. We had someone post on here recently that they had an out of water hull survey, but the insurer wanted a full survey (including matters such as condition of engine, wiring, gas system etc.). So check with your insurer first.

You can get third party only insurance, but this newbie couple came unstuck with that. (Happily the boat is now afloat again and being refurbished).

 

Edited June 14, 2021 by David Mack

[yehdeliver]

Found this - looks very similar to the boat you are describing

 

https://www.apolloduck.com/boat/springer-45-cruiser-stern-for-sale/670003

 

Is it the same one by any chance?

 

Interested in if its value for money at this price

[Alan de Enfield]

2 minutes ago, yehdeliver said:

Interested in if its value for money at this price

 

About £20,000 overpriced, but that's London for you.

[yehdeliver]

Just now, Alan de Enfield said:

 

About £20,000 overpriced, but that's London for you.

 

Tricky to find much else around this price in this condition, even outside London and around this age. I suspect COVID is driving prices up? 

[David Mack]

I wonder how durable a pine panelled and floored wet room shower is!

Edited July 14, 2021 by David Mack

[matty40s]

With a pine clad composting bog to boot.