1st March 2011
Shared Boating established to operate The Cruising Club, Sydney Boatshare and Boat Syndicates International
Shared Boating has been established by a major boat importer to operate boat sharing programmes in Australia. In its first initiative in the market it has taken over the business assets and operations of The Cruising Club Australia, Sydney Boatshare and Boat Syndicates International.
These takeovers position Shared Boating as the leading player in this rapidly growing market.
CEO of Shared Boating, Stephen Hennessy, says being aligned with a large importer ensures the company will always be able to source high-quality vessels for its shared boating programmes. "When you combine our innovative new First Owners' Programme with our ability to directly import boats from the manufacturers, we are in a unique position to place brand new, quality boats into shared ownership." says Mr. Hennessy.
"Our sister company in the group, Sydney Powerboat Centre, has full workshop facilities and mechanical staff available to us to ensure that we can offer the highest possible levels of service to our shared boating owners."
The new company will continue to use the existing individual brands with The Cruising Club targeted primarily at families with boats ranging in price from $9,000 per share to around $50,000 per share. This equates to boats up to about 40 feet in length.
Sydney Boatshare will continue to focus on the premium end of the market with boats ranging from above $50,000 per share with boats in excess of 40 feet in length.
Boat Syndicates International will be a boutique syndication company offering services to dealers and importers looking to offer syndication products and to groups who wish to have smaller syndicates with individually tailored management services.
All brands will utilise the intellectual property initially developed by Boat Syndicates International, which is fully compliant with NSW Maritime boatshare regulations and satisfies ASIC requirements with regards to not being considered a managed investment scheme or a timeshare scheme.