£70k for a 'licence' to moor

[Lady Muck]

Quite, I'd rather stick pins in my eyes than go back to a flat. If I have to cc or move somewhere else, I'll do that.

[a boater]

I see what you mean - but at least you get 'security of tenure'. I'd be more concerned about what happens if you change your mind, circumstance dictates you can't stay, or a new buyer doesn't want the mooring.

yes - the only good thing about this is the security of tenure. but - there are apparently going to be conditions about reasonable behaviour. so you could still get kicked off. the funny thing is, like some other posters say, if we pay up promptly and mind out own business, we aren't going to get kicked out anyways, even without official security of tenure. we haven't actually had any official documentation on this - just an informal q+a sheet. so i don't know for sure about what might happen if circumstances change. from what we've been told, you'd just have to sell your boat with the resi mooring if you had to move, and you name the price (for boat + what's left of the license to moor).

If the OP could give details to a link or something that would help, but this does seem like they are trying to do offer a decent (within remiti) service - but I''d still like to see the Opt-Out/Get-Out criteria well advertised and upfront. Put it this way ... even the most dyed-in-the-wool boater like Baldock would probably blanche at such a deal for twenty years ...

there's no link i'm afraid, and we don't have proper documentation yet. and there's nothing about opting out in the info they have given us...

And of course resi boat dwellers who can't afford a house are a classic target for cash extraction as they have few choices.. And of course resi boat dwellers who can't afford a house are a classic target for cash extraction as they have few choices.

the thing is though - if you had £35k+ cash, you *could* afford to buy a flat or a house. in fact it would involve less upfront cash to buy a flat! it makes no sense that it'll be more expesnive to live on the marina than to buy property.

£70k for 24 years is a good deal, that is less than £3k pr year. A residential mooring of that quality in this area usually goes for £5k/a so anything from the 10 year deal on represents good value.

plus about £4k mooring fees per year... i dont think £7k/year is a good deal, particularly as it's upfront.

The other thing that I'm surprised about is that marinas will normally reserve the right to renew or refuse, for example if someone is consistently causing trouble, they can ask them to leave.Presumably if they're selling a 24 year lease, this right is waived?

nope, i dont think it is! Edited March 22, 2008 by a boater

[GUMPY]

"Idleness" where did you get your logo from, just wot I need as a screen sava for work it says everything! 531 days to livaboard.

 

Its one of a few that I have had for ages dont know where I found it

 

 

Julian

[chris w]

£70k for 24 years is a good deal, that is less than £3k pr year. A residential mooring of that quality in this area usually goes for £5k/a so anything from the 10 year deal on represents good value.

 

 

No it doesn't.......... do a DCF (NPV) calculation at a 10% hurdle rate and your £70K that you have paid out in advance is actually equivalent to £265K

 

Chris

[Maverick]

Well personally I wouldn't touch them with Carls. you're essentially paying thousands of pounds a year for bugger all, with some vague idea that you'll get some of your money back, if you can sell your 30 grand boat for 100 grand.

 

Anyone who participates deserves anything they get.

 

Couldn't agree more. They can only get away with such crazy schemes if enough mugs participate and allow them too. If theyve built the marina and no one books a place how long do you think they will allow it to stand empty before they scrap their money grabbing idea and resort back to the normal way of conducting their business?

 

It may be their game but you dont have to play it. Make them change the rules to suit you. In 24 years time their will be no waterways as we know them today.

[magnetman]

I guess with people moaning about BW so much the system will soon get sold off to private investors then maybe it'll be 5 year cruising license and mooring license in advance or your boat is hauled out and scrapped.

[pillingslock]

Is this marina on the south coast of france

if memory serves me right think pillings do the same sort of thing but around 30k for 25 years or something like that.....Is it april first

daylight and robbery springs to mind

It was actually starting at £24,000 (inc. VAT at 17.5%) for a 30 year lease. please can you guys get your facts right!

 

All 24 of our leases are now sold now FYI.

 

There are no more available. This is not an advertisment.

[denboy]

It was actually starting at £24,000 (inc. VAT at 17.5%) for a 30 year lease. please can you guys get your facts right!

 

All 24 of our leases are now sold now FYI.

 

There are no more available. This is not an advertisment.

Ok i`ll bite as i said originally AROUND £30k you say starting at £24k so were there some at Around £30k

[Rik Derris]

we do pay council tax, get post etc. i don't actually know what residential permission is and i can't say for sure. i assume it's just permission from BW - if so, I *think* they do, but i've never checked. and the 'dont moor there' option brings up the further problem of 'where can i moor'? a 19 year one. they only have their lease on the marina for that long.

 

I hear that there are moorings going at Cowley- Not as nice as Willow tree and no electric or water but only 5 mins to the lock with a tap and good inverter / gen combo gets round the electric issues. As mentioned on previous posts Willow Tree appear to be taking advantage of the lack of moorings in the London area - however that location is so far out of london the difference in time to get into town compared with uxbridge/West drayton/Watford is negligible.

[Lingy]

Terrible idea, no-one would ever live there. << No for me what is going on here more rip off Britain ?

[Denis R]

I see the necromancer's back....

[Tim Lewis]

I remember when the residential moorings at Battlebridge basin went up for sale in the early Nineties for £35K (Can't remember the length of the lease) and people were astounded at the price With the Ice Wharf moorings (at the other end of the basin) now going for 7K per annum theres a lot of people wishing they'd paid the 35K!!

 

Who knows what 70k will look like in 25 years?

 

Tim