Time for a Change
— November 2004
By Diane M. Byrne
Time for a Change
Partial-ownership programs aren’t new—they’ve been meeting with success in the private jet sector for several years. Despite being tried a few times in the pleasureboat realm, however, with various sizes of yachts, that success hasn’t been replicated. No one knows why for sure—the possible reasons are about as abundant as the number of yachts out there.
But that may be about to change, given that nearly all of the 64 shares in the partial-ownership program being offered by Nigel Burgess for the 280-foot Annaliesse have already been sold—and the yacht was only delivered in June.
Why the seeming Midas touch? Jonathan Beckett, managing director of Nigel Burgess, points to a few reasons. “The 60-meter-plus market is different,” he explains. Indeed, SeaChange, the partial-ownership program Annaliesse is offered under, is the first such program to include a yacht 200 feet LOA or larger. Besides the obvious fact that a yacht this size offers many more relaxation areas and amenities than those of yachts in the 30- to 35-meter (100- to 115-foot) range, which previous partial-ownership programs have concentrated on, the type of person who’d be attracted to such a yacht is also different.
And Annaliesse is definitely for those who want a different experience. Take, for example, the number of people who can join you: While a handful of family and friends would be comfortably accommodated aboard a 100- to 115-footer, you and up to 34 guests can stay aboard Annaliesse. (Just make sure you lay claim to the huge owner’s suite—all 1,184 square feet of it. As for your friends, well, the “smallest” room they’ll get is a healthy 280 square feet.) This particularly makes her ideal for big parties that otherwise would be limited to tandem charters or for corporations searching for a new way to reward top employees. And the yacht’s one-to-one crew-to-passenger ratio, ranging from the captain to a medical assistant and even two musicians, is also quite attractive.
Here’s how SeaChange works. You can purchase an ownership portion of six shares in the yacht for 17 million (about $8.5 million, at presstime), which guarantees four weeks aboard per year, two in peak season and two off-season. If you’re unable to take your full allotment, you can recoup some of your investment by permitting Annaliesse to be chartered for $100,000 per day, according to Beckett. “And she’s active,” he adds. (He’s right; as of this writing in late August, Annaliesse had just finished a nearly one-month charter.)
So where do you get to cruise? Initially the yacht will be in the Caribbean in the winter and the Med in the summer, since those are the most popular destinations. But Beckett says the owners’ committee will be able to give opinions on alternative destinations. In addition, once Annaliesse’s sistership, Alysia, launches next year, “Owners can switch locations if one yacht is in the Seychelles and the other is in the Caribbean,” he explains.
That is, if the owners can tear themselves away from the massage facilities, steam rooms, saunas, and other true spa facilities on the lower deck…
Nigel Burgess Phone: (44) 207 766 4300. www.nigelburgess.com.
This article originally appeared in the October 2004 issue of Power & Motoryacht magazine.