a community not a commodity

a property developer is trying to remove Chelsea houseboats

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Buyer Beware!

April 2026

Boatowners are angry and if you read the following short pages, you will understand why. We are not stupid and we do not like being bullied and after a decade of Moffat mismanagement, far from being depleted, the Boatowners’ Residents Association (CRBA Ltd) has a large membership and is stronger than ever. It is well funded, well organised and we have shown that we are not afraid to litigate if mediation fails. If you get to the end of these documents, and you still try to develop CYBC, you can’t say you weren’t warned!

The Administrators have just launched “Project Athos” which is the sale of CYBC Ltd and the other three companies struggling as a result of Moffat incompetence. All prospective purchasers need to be aware of the “total cost” model adopted by Margaret (Madge) Bailey, recognised by the PLA to be the leading expert in the field when it instructed her to review the charging method for residential houseboats in 2011. She acted for boatowners in both CYBC expert determinations (Harris on licences in 2022 and Crawford on mooring fees in 2025). Her expert reports are essential reading – see links below.

Infrastructure and site location issues which limit investment return

The information is accurate to the best of our knowledge and belief.

  • In 2024 the PLA served more than one s70 notice on CYBC notifying them they are in breach of the River Works Licence and must remedy the breaches or face action, including having the RWL rescinded.
  • In 2025 CYBC applied to the Port of London Authority to extend the RWL. The application was not approved. There is only 20yrs left on the current RWL (2046).
  • The Royal Borough of Kensington and Chelsea (RBKC) owns the land and buildings at 106 Cheyne Walk which CYBC leases. In 2021 RBKC served a s25 notice saying it would not renew the lease. A deal was done for a short extension while RBKC explore their plans for redevelopment of the site.
  • The foreshore is being eroded by the increased river traffic including Thames Clippers. You can see for yourself that at least 12-15 berths are no longer fit for purpose because the slope is unacceptable. Imagine trying to sleep in a bed at that angle and never being able to leave anything out on a table in case it slides off. Having to explain to visitors that they need to hold onto their dinner plate is embarrassing!
  • Wash incidents like the one shown in this video are a weekly occurence. In addition to being unpleasant to experience when aboard, they often cause damage like that shown in the video and photo below.
  • In 2015 Moffat himself, when trying to obtain investment for his non residential mooring at Cadogan Pier, described the site in this way (yes we have a copy of the email); "CYBC is opposite the largest council estate in Chelsea and their boats sit in mud for most of the day on a 30 degree incline."
  • The fact that boatowners are bare licensees and do not have any of the statutory protection of Landlord and Tenant law is a big reason why Moffat’s plans have failed. He thought that he could sell licences for the same amount as leasehold property on land, but unsurprisingly the lack of statutory protection acts to significantly depress the market value.

Local support

Boatowners have a proven track record of refusing to bend to the will of a property developer and the local community has got behind us. They don’t want the Moffat Mega Boats either and if RBKC planners can’t or won’t stop them, they have shown that they are prepared to add their weight to ensure that any future River Works Licence prohibits boats of that size and shape. After a decade of headaches caused by continuous pressure from boatowners, the Port of London Authority (PLA) are not keen on another property developer taking control.

Ben Coleman MP is proactive and vocal in support of the boatowners against CYBC. On 2 Feb 2026 he said “Time to put houseboat owners in control. Our iconic houseboat community in Chelsea has long suffered from its predatory landlord, CYBC. Now CYBC's parent company is in administration, owing a staggering £96 million. I'm concerned that the new directors are continuing with the previous approach – dealing with the Chelsea Reach houseboat owners one by one rather than as a group. The boat owners tell me they are ready to take over and run the moorings themselves to benefit the community. It is time to get away from excessive commercial interests and view this as a social asset. I’ve made it clear to the Port of London Authority, which licenses out the moorings, that the boat owners have my full backing, as they do of the community across Chelsea”.

Our community also has the support of RBKC and the local societies including the Chelsea Society and the Cheyne Walk Trust. RBKC Councillor Elizabeth Campbell said “I would be delighted to see houseboaters acquire the moorings at Chelsea Reach, with support from the Chelsea Society. As Leader of the Council, I have backed houseboat owners, who have shown amazing tenacity and resolve in the face of threats to their homes, big fee increases and the arrival of mega boats. Long-term security of tenure, protection from excessive licensing fees and services charges, and no more mega boats, would all be big wins for this special community and residents across Chelsea.”

Since 2018, we have collected over 10,000+ signatures on our #CommunityNotCommodity petition, including signatures from Graham Norton, Felicity Kendall & Suggs from Madness. Some of our residents have lived here since the 1970s and, just as they were then, our houseboats remain an important part of our local Chelsea community

Important information for Potential Developers/Buyers

CAVEAT EMPTOR!