Rich Boaters

[Mrs Trackman]

Wow! I try to keep an eye on the mooring web site and am constantly amazed at how much mooring and revenue is wasted by insisting on reserve prices that are clearly higher than people will pay. However it looks as though all is solved by selling one residential mooring for only a 55 foot boat in central London for a staggering (nearly) £20,000 a year. I do realise London is expensive but that's an awful lot to be earning to pay that sort of money for a mooring.

[George94]

Link?

[WJM]

Where?!!!! £5kpa would seem to be the norm for that kind of mooring - unless it is in Chelsea Harbour or St Katherines Dock.

[MtB]

Wow! I try to keep an eye on the mooring web site and am constantly amazed at how much mooring and revenue is wasted by insisting on reserve prices that are clearly higher than people will pay. However it looks as though all is solved by selling one residential mooring for only a 55 foot boat in central London for a staggering (nearly) £20,000 a year. I do realise London is expensive but that's an awful lot to be earning to pay that sort of money for a mooring.

 

I'm of the view that CRT are now setting uncommercially high reserve prices on their moorings auctions in order to support their policy of driving moorers into the ever expanding suupply of marina moorings. The downside is that their income reduces as more moorings fall vacant so the policy puzzles me slightly, given their claimed shortage of funding.

 

A hefty chunk of the cost of repairing of the T&M breach, for example, could be funded if they sold a few hundred of their vacant spaces for prices the market willactually pay. £1000 a year collected for every online mooring currently vacant would generate one helluvalot of income in my estimation

[alan_fincher]

Where?!!!! £5kpa would seem to be the norm for that kind of mooring - unless it is in Chelsea Harbour or St Katherines Dock.

This one I'm guessing!

 

There are other London residential moorings going well into 5 figure numbers of pounds per year that are at fairly average looking canal-side locations.

 

Like this one on the Limehouse Cut.

 

EDITED TO ADD:

 

Neither of those have any parking either - although both will at least take a wide-beam.

Edited October 25, 2012 by alan_fincher

[MtB]

This one I'm guessing!

 

Well it still only has a reserve of £5828 even though "Bigone" and "Mustang Sally" seem to be slugging it out and both determined to win.

 

I wonder what it will sell for if "Bigone" wins then pulls out (Oo-er missus )

[Leni]

£5k? That's nothing! Try this for a big one! https://www.crtmoori...ils.php?id=4246

 

[PiRSqwared]

£5k? That's nothing! Try this for a big one! https://www.crtmoori...ils.php?id=4246

 

 

Inexpensive if you can afford a 98 x 18 feet, 10 feet draft boat I should think!!

Edited October 25, 2012 by PiRSqwared

[Leni]

Inexpensive if you can afford a 98 x 18 feet, 10 feet draft boat I should think!!

 

Good point!

[alan_fincher]

Well it still only has a reserve of £5828 even though "Bigone" and "Mustang Sally" seem to be slugging it out and both determined to win.

 

I wonder what it will sell for if "Bigone" wins then pulls out (Oo-er missus )

??????

 

Hasn't "bigone" already won it ? By my reading of it, their £19,805 bid was placed at 13:27 today, and not trumped, and the auction is over ?

 

It's not entirely a one-off. The last auction at that site made £17,505, back in April 2011.

[Mrs Trackman]

This one I'm guessing!

 

There are other London residential moorings going well into 5 figure numbers of pounds per year that are at fairly average looking canal-side locations.

 

Like this one on the Limehouse Cut.

 

EDITED TO ADD:

 

Neither of those have any parking either - although both will at least take a wide-beam.

Yes, that's the one I'd spotted and I had forgotten about other very highly priced ones in London.

I wouldn't have expected anyone to have the money to run a car as well as pay so much for a mooring but I guess I'm out of touch.

[alan_fincher]

I wouldn't have expected anyone to have the money to run a car as well as pay so much for a mooring but I guess I'm out of touch.

For people who absolutely want a pad in London, I guess paying £10K, £15K or even £20K for a reasonably serviced mooring is in some cases acceptable. It is not going to be a lot of money compared to (say) renting a flat in the same area, is it ?

 

As has been said, if it is on the canals, and a little bit further out, the going rate is still usually always at least £5K, I don't think much comes up where CRT have a lower reserve on it than that, (do they ?)

[Mrs Trackman]

I'm of the view that CRT are now setting uncommercially high reserve prices on their moorings auctions in order to support their policy of driving moorers into the ever expanding suupply of marina moorings. The downside is that their income reduces as more moorings fall vacant so the policy puzzles me slightly, given their claimed shortage of funding.

 

A hefty chunk of the cost of repairing of the T&M breach, for example, could be funded if they sold a few hundred of their vacant spaces for prices the market willactually pay. £1000 a year collected for every online mooring currently vacant would generate one helluvalot of income in my estimation

I agree, we left our mooring after our 3 year term as the fee was more than doubled even though none of the other 3 or 4 moorings in our basin had been let in the 3 years we were there. We have been left nearly a year and it hasn't even been offered again.

[magnetman]

London is expensive and a boat is a detached dwelling. Auction moorings go for a lot but existing boats will be paying less. Isn't CRT obliged to charge a market rate for the moorings? the canal system needs the money after all.

[John V]

London is expensive and a boat is a detached dwelling. Auction moorings go for a lot but existing boats will be paying less. Isn't CRT obliged to charge a market rate for the moorings? the canal system needs the money after all.

 

I have no personal knowledge of this subject (and yes I know it doesn't normally stop me) but if previous posters are correct and a very large number of moorings stay vacant then obviously they are NOT priced at the market rate and C&RT are NOT maximising their earnings

[MtB]

Isn't CRT obliged to charge a market rate for the moorings? the canal system needs the money after all.

 

Why do you think that? Yes the canal system needs the money, but CRT have no legal obligation to rent ANY of their bank space as long term moorings as far as I know.

 

Or do you know otherwise?

[nb Innisfree]

Keeps the plebs away.

[Lady Muck]

For people who absolutely want a pad in London, I guess paying £10K, £15K or even £20K for a reasonably serviced mooring is in some cases acceptable. It is not going to be a lot of money compared to (say) renting a flat in the same area, is it ?

 

As has been said, if it is on the canals, and a little bit further out, the going rate is still usually always at least £5K, I don't think much comes up where CRT have a lower reserve on it than that, (do they ?)

 

The price for that mooring doesn't surprise me, moorings in town even at that price would still compare favourably to a rental, there's no way you'd get a garden flat in that area for the £1600 a month, it would be more like £1600 a week.

 

You wouldn't have to deal with an arsey landlord, who constantly demands inspections, or throws you out because he's selling up, because it would be your boat, the council tax band would be way lower than a flat would and you'd have a garden and a waterside view. A no brainer. If I had the money it would be widebeam over a flat in town every time.

 

Aside from the anomaly that is Engineers Wharf I don't think the CRT ever has any problems letting out London moorings, they've certainly never had a problem up here on the Lee.

[John V]

The price for that mooring doesn't surprise me, moorings in town even at that price would still compare favourably to a rental, there's no way you'd get a garden flat in that area for the £1600 a month, it would be more like £1600 a week.

 

You wouldn't have to deal with an arsey landlord, who constantly demands inspections, or throws you out because he's selling up, because it would be your boat, the council tax band would be way lower than a flat would and you'd have a garden and a waterside view. A no brainer. If I had the money it would be widebeam over a flat in town every time.

 

Aside from the anomaly that is Engineers Wharf I don't think the CRT ever has any problems letting out London moorings, they've certainly never had a problem up here on the Lee.

 

Is the group of moorings that Mrs Trackman mentioned as staying empty another anomaly? or are there certain areas of moorings that are over priced? (serious question)

[Lady Muck]

I don't know where she moored so I can't answer that. Doesn't sound like London to me as I've never heard of any moorings in basins remaining unlet.

[John V]

Ta..

[Mrs Trackman]

The price for that mooring doesn't surprise me, moorings in town even at that price would still compare favourably to a rental, there's no way you'd get a garden flat in that area for the £1600 a month, it would be more like £1600 a week.

 

You wouldn't have to deal with an arsey landlord, who constantly demands inspections, or throws you out because he's selling up, because it would be your boat, the council tax band would be way lower than a flat would and you'd have a garden and a waterside view. A no brainer. If I had the money it would be widebeam over a flat in town every time.

 

Aside from the anomaly that is Engineers Wharf I don't think the CRT ever has any problems letting out London moorings, they've certainly never had a problem up here on the Lee.

Good point, I'd been thinking that only have bankside for all of that money and no building but of course much better than a landlord and price is fixed for 3 years which doesn't happen with a flat rental.

[Leni]

A friend of mine has a one-bedroom flat overlooking Paddington Basin. The rent (subsidised by her employers) is £400 per week.

[alan_fincher]

Aside from the anomaly that is Engineers Wharf I don't think the CRT ever has any problems letting out London moorings, they've certainly never had a problem up here on the Lee.

Not sure if it counts as "London" in your eyes, but since the start of 2011, of about 17 attempts to auction moorings at Brentford (non residential) about 8 have resulted in no bids.

 

That said you can never predict. The most recent one I noted went at over £6K, (about 26% over "guide"), but one a few days earlier not at all. That said they are for some reason all advertised with the same reserved, despite being sold with differeing maximum lengths. The one that sold was 20 metres, the one that didn't only 18 metres - and perhaps that explains the bidding war on one, and not the other ?

[Mrs Trackman]

Is the group of moorings that Mrs Trackman mentioned as staying empty another anomaly? or are there certain areas of moorings that are over priced? (serious question)

We were in Peel's wharf on the Coventry canal at Fazeley. The mooring started in December 2008 and we were promptly frozen in but the residents of the housing around the basin didn't think we should run our engine or light our stove and make smoke. BW supported the residents, it seems they hadn't noticed that canals have boats. It is hardly a quiet place either, the old A5, Watling Street runs at the back of the housing and there is a lorry/van depot on one side and there was a building site on the other.