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Is this right?

Madmark62

By Madmark62
in General Boating

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alan_fincher Veteran II

alan_fincher

Posted
Posted

Eye watering, isn't it ?

 

It's been discussed on the forum before, some time back, so if that's a bargain price, nobody has picked up on it yet ! :lol:

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Liam Veteran II

LiamDonate to Canal World

Posted
Posted (edited)

Our old 38ft Hancock & Lane Narrowboat, which was built in 1970, which we bought in 2000, and sold in 2005, is up for sale at the moment for £30,000. We initially bought this for a third of the price advertised at the moment. This is because it is moored on a residential mooring in the posh, sought after residential mooring in London somewhere.

 

After enquiring, it appears that the current owners are prepared to sell the boat seperately to the moorings they lease, and are willing to accept just under half of the current asking price.

Edited by Liam
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Dekazer Rising Star

Dekazer

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Well you'd struggle to buy a flat for that price round there. Some of the boats with permanent residential moorings in Little Venice command similar prices. Problem is, if you owned your own boat you'd never get on those moorings as everyone sells their boats on the moorings - people rarely move the boat away.

 

Although this is slightly chearper: http://www.vcmarine.co.uk/boatswrc/defiance.htm It's been on the market for bloomin' ages though.

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KevTheWelder Engager

KevTheWelder

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Thing is, it's in London, I know, it's got a mooring, I know, but even so-the boat is clearly very nice, but it's nothing exceptional is it? Doesn't stand out in any way, shape or form. Boat in itself can't be worth even half that ridiculous price. :lol:

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alan_fincher Veteran II

alan_fincher

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The boat itself is worth about £59k so I presume it is a freehold mooring priced at £200k. Given that £200k might get you a small studio apartment in that area then the price seems right to me.

I'm pretty certain that when it came up before it was not a freehold mooring.

 

Someone said it was transferable, I think, but I'm not sure you £200,000 is buying you any great security of tenure.

 

I failed to find the old thread last night - I'm sure someone cleverer than I can, though.

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alan_fincher Veteran II

alan_fincher

Posted
Posted

FURTHER INFO:

 

Now found the old threads

 

Mainly in here....

 

http://www.canalworld.net/forums/index.php?showtopic=19250

 

But also gets a mention in here......

 

http://www.canalworld.net/forums/index.php?showtopic=19445

 

 

Apparently the mooring is in BWML controlled Poplar Dock Marina - there seems to be ambiguity about whether it could be transferred

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Lady Muck Veteran

Lady Muck

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The vendor we bought our boat from tried to sell at an overinflated price to take into account the London mooring but he didn't succeed. We paid what the boat was worth and no more.

 

Probably because all interested parties wanted to buy with a marine mortgage (which we have done).

 

You can only get a marine mortgage for the value of the boat, if it's a high price because of the mooring, they won't lend for the mooring because you can't own it. Probably why this boat still for sale - they need to find someone with about £180k in the bank that wants to live in a steel tube. Not easy in London at the moment. Some boats are selling well in London but they tend to sell to towpath moorers and are generally under £25k

 

Edited to add: that boat named Defiance on VC marine - I know that one - because it was moored opposite my Brother in laws in Camden for about six months in total! It does pee us off a bit re. Camden, there is a mooring warden who has a right to be there, but he bought a new boat months ago and is keeping both the new and the old boat there at the moment leaving only three/four other moorings for visitors (depending on size of boat). When Defiance was there as well (apt name BTW!) there was no room at all!

 

I suppose I am fortunate in that I can ring my BIL and ask if there is any room, whenever we come through town. I can also row my laundry accross to his house in his rowboat (and upset the people that run the trip boats in the process)

Edited by Lady Muck
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Lady Muck Veteran

Lady Muck

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and old work colleague moors there in a dutch barge - she was moored on the thames, moved her boat there and didn't pay hundreds of thousands for the privilege - it's about £10k a year though.

 

Didn't a marina on the Regents try a similar ploy the other year to persuade people to part with tens of thousands to lease their resi mooring for 20 years? Was it Willowtree? Did it work?

 

Anyway, mate of mine got a mooring for her recently bought NB in Islington recently - again, no silly money exchanged hands.... it can be done but you have to spend alot of time on the phone and talking to people.

Edited by Lady Muck
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flatplane8 Proficient

flatplane8

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The vendor we bought our boat from tried to sell at an overlinflated price to take into account the London mooring but he didn't succeed. We paid what the boat was worth and no more.

 

Probably because all interested parties wanted to buy with a marine mortgage (which we have done).

 

You can only get a marine mortgage for the value of the boat, if it's a high price because of the mooring, they won't lend for the mooring because you can't own it. Probably why this boat still for sale - they need to find someone with about £180k in the bank that wants to live in a steel tube. Not easy in London at the moment. Some boats are selling well in London but they tend to sell to towpath moorers and are generally under £25k

 

Thats pretty much the situation in London. There are a number of barges that look very nice that are up for sale for even more for the same reasons. However, as you said, its a cash driven business, as no one will lend you money for something as tenuous as a mooring.

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aread2 Collaborator

aread2

Posted
Posted
Didn't a marina on the Regents try a similar ploy the other year to persuade people to part with tens of thousands to lease their resi mooring for 20 years? Was it Willowtree? Did it work?

 

Blisworth Marina were trying to sell a 30 year lease for 30k last year. Don't know how many they sold but the marina looks pretty full these days. If you have 30k to spare it wasn't too bad a deal if you were planning to stay there a long time.

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Lady Muck Veteran

Lady Muck

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Posted (edited)
Blisworth Marina were trying to sell a 30 year lease for 30k last year. Don't know how many they sold but the marina looks pretty full these days. If you have 30k to spare it wasn't too bad a deal if you were planning to stay there a long time.

 

I think at the London marina (can't remember which one it was), they wanted the money for a lease and for you to pay a mooring fee as well. It wasn't good value.

 

Edited to add - found it eyewatering license to moor clicky

 

Did this go ahead? I note it was a pre-credit crunch idea.

Edited by Lady Muck
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