Buyer beware!
DO THE MATH! (with apologies to the USA)
Here’s a table showing a breakdown of fees for a 46’ boat. The owner cannot sell as there is no sales market with fees at this rate and without security of tenure. The owner is forced to rent and this table shows how costs do not cover the market rate rent.
| Annual income/expenditure | Mooring @£239/ft/yr Maint @£88.55/ft/yr Licence at Harris rate of £22k/ten yrs | Mooring @£239/ft/yr Maint @£185.39/ft/yr Licence at Harris rate of £22k/ten yrs | Mooring @£239/ft/yr Maint @£185.39/ft/yr Licence CYBC rate £220k/ten yrs |
| Mooring licence annualised | £ 2,200.00 | £ 2,200.00 | £22,000.00 |
| Mooring fees/yr | £10,994.00 | £10,994.00 | £10,994.00 |
| Maintenance fees/yr | £ 4,073.30 | £ 8,527.94 | £ 8,527.94 |
| Total fees per year to CYBC (excl permission to rent) | £17,267.30 | £21,721.94 | £41,521.94 |
| Dry docking apportioned/yr | £ 2,000.00 | £ 2,000.00 | £ 2,000.00 |
| Insurance | £ 779.98 | £ 779.98 | £ 779.98 |
| Routine repair, renewals & gas & fire certs (estimated) | £ 5,500.00 | £ 5,500.00 | £ 5,500.00 |
| Permission to rent | £ 1,800.00 | £ 1,800.00 | £ 1,800.00 |
| Total costs/yr | £27,347.28 | £31,801.92 | £51,601.92 |
| Rental income | £27,600.00 | £27,600.00 | £27,600.00 |
| Profit/loss | £ 252.72 | Loss £4,201.92 p.a. | Loss £24,001.92 p.a. |
CAVEAT EMPTOR!