Morley Yachts - one of the leading companies offering the sale of marina berths in the Mediterranean - announces a new way of securing a home for your yacht. Responding to the current market situation, Morley Yachts has come up with a plan to offer yacht owners an imaginative solution to meet their needs perfectly.
Captains will agree that it is ideal to have a home berth. Somewhere where they can carry out maintenance work and not have to worry about limited availability of berths for rent. Even if the yacht is busy throughout the summer and winter seasons, it still proves useful to have a base to return to on the rare occasions that the yacht is given time to carry out essential work. The crew will also want to establish a life on shore, where they can live normal lives as time allows.
The cost of buying a berth, however, is something that owners find difficult to justify. The prices on the Cote d’Azur have come down in 2010, but they are still expensive compared to renting a berth nearby in Italy, Spain or Tunisia.
Tim Morley posed the question ‘wouldn’t it be nice to be able to buy the privilege of renting a berth for 30 years, but for just seven months a year?’
Yachts that spend the winter in the Mediterranean could use the berth for the full seven months ‘hivernage’.
Yachts that spend more time cruising could use Morley Yachts or other agents to help rent the berth, and it would be easy enough to achieve full occupancy for just seven months out of twelve.
Marina Bizerte in Tunisia is due to open towards the end of 2011, and it will provide optimum conditions for yacht owners:
• Low cost fuel
• Strategic location for delivery to popular cruising grounds
• Protection from European taxes
• A modern purpose built superyacht marina
• A safe country with an excellent socio-political environment
• Low cost skilled labour for outsourcing maintenance
• Low cost of living in an ex-pat environment for crew
The possibility now exists to buy a Seven Month Special which would give yacht owners the right to use a specific berth in Marina Bizerte for up to seven months per year for 30 years. The owner would be able to sell the Seven Month Special in the same way that he can sell a full 30 Year Lease agreement.
The initial investment to buy the Seven Month Special would be considerably less than the full 30 Year Lease Agreement.
Since the rental prices of the berths in Bizerte will increase by around 5% year on year, the value of the Seven Month Special could increase each year even though the duration of the remaining concession will be shorter. Supply and demand could eventually come into play to drive values further up for the resale of a Seven Month Special agreement.
To discuss this and to arrange a visit Marina Bizerte, contact Central Agent for berth sales Morley Yachts. Yacht Brokers and Management Companies are encouraged to enquire.