PETER MANSIONAfter a long gap, I decided a couple of
years ago that the time was right to invest
in another boat. With limited fi nances,
I concluded that a boat share would be
the best way to buy and run the kind of
boat that I was looking for.
Having previously boated in the UK,
I wanted to keep the new boat in the Med,
either in mainland Spain or the Balearics. While there were a few
existing boat syndicates with shares available in Mallorca, they were
all for 50ft-plus boats and I was concerned that fuel and mooring
costs would be prohibitive. So, I decided to start my own small
syndicate and started looking for partners and a Fairline in the
30-40ft size range. Finding suitable partners and the right boat
took longer than I expected but in June 2017, we became the
proud owners of a 2003 Fairline Targa 34 fi tted with Volvo
KAD44P EDC engines. I would have been happy buying a boat
either abroad or in the UK, however, the Fairlines that I looked at
in Spain tended to be rather tired and more expensive than in the UK.
The boat came with lots of service history, the original VAT receipt
and all bills of sale. The previous owners had owned her for a couple
of years but due to personal circumstances, hadn’t been able to use
her as much as hoped. Therefore, our initial focus was to freshen
her up and shake her down to ensure she was reliable before she
went to the Med. This entailed a fair bit of work to the outdrives
(new bellows, seals, etc) and a complete engine service. Cosmetically,
the boat was excellent, however, the teak on the bathing platform
was starting to lift so this was also replaced. As the boat was destined
for the Medm we also invested in air conditioning. To keep prices
down, we managed to source a ‘new/old stock’ unit and had it fi tted
by a specialist fi rm for £3,600.Initially, we took on the previous owners’ berth in Hythe. The
proximity to the Solent is great, however, we found the marina
and village to be a little quiet for our tastes. In October, the boat
was trucked down to Spain (£5,640). Our original intention was to
take it straight to Palma but we decided to keep her in MDL’s Sant
Carles Marina for the winter and may well keep it there for a season.
To minimise costs, we are happy taking on simple repairs
ourselves. However, outdrive and engine work was entrusted to an
independent marine engineer recommended to us by a friend from
the YBW forum. As the boat is relatively small, we’ll probably pay for
the boat to be professionally antifouled and polished in the spring.
It’s a bit early to get a feel for usage but I intend to use the boat
for three or four weeks a year and my partners a little less, so
probably 40-50 days a year in total. This means adding a few more
engine hours than normal but for this age of craft, that is unlikely to
affect her value and should ensure she stays in good running order.
Being part of a syndicate, our costs are shared three ways. I manage
the day-to-day running of the boat and make no charge for doing
this. I’m just looking forward to our fi rst summer on board.2003 FAIRLINE TARGA 34, SPAIN Ð £5,566
Having caught the bug, we upgraded to a 26ft Cobra RIB before
leaping to a secondhand Fairline Targa 40, then a Bénéteau Monte
Carlo 37 before changing to our current boat, a Swift Trawler 34.
One reason why the ST34 appealed was because we found
ourselves travelling at displacement speeds on the Monte Carlo 37
so often, we might as well bite the bullet and buy a boat that was
comfortable doing single-digit speeds. With only one shaftdrive
engine to fuel and service, the running costs are cheaper too.
After a handful of seasons in Swanwick Marina, a holiday to
Portugal had us asking ourselves whether keeping the boat in
sunnier climes would be a better option. We went for it, and shelled
out £5,000 to truck Blues Away down to Marina de Portimão. Other
costs included adding a bimini to the fl ybridge and getting some
‘skirts’ made to protect the blue topsides and transom from the sun.
Truthfully, moving the boat has transformed the way we use it.
Now my wife and I are retired, we use it all year round for around
12 weeks, with stays varying between four or fi ve days to three
weeks. We try to get out there at least every six weeks to keep her
in good shape. That said, we have a great marine engineer out
there who takes care of major work so we can make the most
of our time on board and just take care of the simple stuff.
By keeping everything on board, we can pack light and travel
with minimum hassle and expense. The family get use of the boat
too and it offers a good-value holiday you can book when fl ights
are at their cheapest. Because there are plenty of good cruising
destinations close to the marina, we only put around 80 hours
a year on the engine and have drastically reduced our fuel costs.
We reckon it’s more fun and less stressful than owning a second
home abroad, and because we get such good use out of her in a
lovely location with reliable weather year round, the costs are easier
to justify. Buying new, we were always going to take a bit of a hit on
depreciation but that has already started to tail off signifi cantly and
may even have gone up a bit in the last 12 months. Boating is never
going to be a cheap hobby but it’s worth every penny of it for the
pleasure we all get out of it.55REAL LIFEDepreciation None so far
Berth £4,600 per year
Fuel £6,000 (£2,000 each)
Insurance £600 per year
Engine service £2,500 per year
Maintenance £1,000 per year
Unscheduled repairs £2,000 per year
Total cost per person £5,566 (all costs split three ways)
Total cost £16,700 per yearDepreciation £8,000 (averaged over seven years)
Berth £3,000 per year (excluding electricity on a three-year contract)
Fuel £2,100 per year
Insurance £950 per year
Service £1,600 per year
Maintenance (lift-out, antifoul etc) £900 (Coppercoated in 2013 for £2,300)
Repairs £700 (stolen tender – see Our Boats, p98)
Total cost £17,250 per year (inc average annual depreciation)Peter set up his own
syndicate to share
this Fairline Targa 34
Moving to Portugal
means it can now be
used all year round