Fantastic opportunity for Old Blues to share in sailing the yacht El Animado
El Animado is a superbly equipped Elan 43. She will sleep up to 11 persons and has a proven ocean-going capability. She has been used in recent years to give Grecians and young Old Blues an opportunity to sail offshore at little or no cost to themselves. (see reports in recent editions of the Blue and the Old Blue)
Whether or not you are a sailor, there is now a once-in-a-lifetime opportunity to own a part share in this yacht at a very low cost. Should you not feel competent to take charge of this medium sized yacht on your own, she may (if required) be used with an experienced and knowledgeable professional skipper – me! (Either myself or my son Jonathan - both Old Blues - have the necessary qualifications and experience to skipper the yacht and to teach you to manage it independently at sea). Alternatively, you could just use it as a houseboat in a fantastic location at a fraction of the cost of renting a holiday cottage for your family ashore.
How has this opportunity arisen?
El Animado was built in 1989 to my specifications and launched in February, 1990 at Portoroz in Slovenia. We then sailed across to Venice where the naming ceremony took place in the lagoon in front of the Doge’s Palace before we cruised back through the Mediterranean to Gibraltar and so home to Falmouth where she arrived in May, 1990.
From 1990 to 2001, El Animado remained in my ownership and was used quite extensively by me for professional skippered charter in the Western approaches including the Channel Islands, Brittany, West France, Northern Spain and Ireland as well as the south coasts of Devon and Cornwall and the Isles of Scilly.
Following the collapse of my business interests in 2001, I was forced to sell the yacht, but a near relative (a non-sailor) stepped in and agreed to buy it at a reduced price and to pay the running costs of the vessel. In return, my wife and I were to be responsible for overseeing, participating in and managing the yacht as his agent. We were also required to take the new owner and his family sailing whenever and wherever we required to do so.
Now the current owner wishes to sell, and is prepared to accept a price that is likely to be well below the asking price for yachts of this type and age. Furthermore as the yacht has been under my management since new, she remains in excellent condition. The current owner has added a number of excellent features including a generator and watermaker (the yacht can be away from port for extensive periods without the need to dock in expensive marinas), as well as authorising some important and extensive refits.
(full inventory and list of major refits available)
The proposal
The proposal is that El Animado should now be purchased by a syndicate of Old Blues (including some with sailing experience as well as some who just wish to experience wonderful holidays afloat). Given the vagaries of the English climate, I would suggest dividing ownership into 25 week/shares from April-September. Obviously some weeks are more advantageous than others and I think rather than being fixed they should rotate annually – say by being advanced by 3 weeks every year. In the first year, priority of choice would be accorded on a first committed first choice basis.
If the yacht remains in Cornwall (why not? It is cheaper and she has a mooring here already), the weather is quite kind even outside the 6 months mentioned above and would allow extra out of season weeks.
The syndicate would be run democratically with each week of ownership entitling the owner of that week to one vote. I assume that there would be a syndicate Chairman/Commodore, a secretary and a Treasurer. While the syndicate would make its own rules, I suggest that, initially, I assume the role of Chairman/Commodore for say 6 months from the establishment of the syndicate and appoint officers for this period during the setting up of the syndicate. I have appended some initial thoughts about rules, but would welcome some input on this.
Estimated costs
I do not yet know the price the current owner will accept. However, I am confident it will be very attractive. I estimate that the cost of purchasing one week will be in the region of £2,000-£2,500 (the latter figure would give a useful reserve) and that ongoing costs should be in the region of £220-£280 per year. Given the cost of holiday accommodation in my village (about 3-4 times that amount) this would provide a great family base in fabulous surroundings even if the yacht went nowhere!
Setting up the syndicate
My initial thoughts on this (including a rough timetable) are as follows:
1. Any OBs who wished to express an interest should do so between now and October 31st. Such an expressed interest would involve no commitment, but would merely keep everyone in the loop.
2. Given enough interest by late September, we would call a meeting in early November. This meeting could take place at CH, in London, by telephone conference call, or even here in Cornwall, which would give a chance to view El Animado out of the water.
3. Assuming a decision were made to proceed, a treasurer and secretary would be appointed and syndicate members would be signed up with funds being placed in an interest bearing account.
4. Once 25 weeks have been sold the vessel would be purchased by the syndicate from the current owner and a meeting held to revise the rules of the club and draw up a constitution, if required. (I hope we have a lawyer on board by then!)
5. In the event that sufficient weeks remain unsold by 31st December then a telephone conference will be held to determine how to proceed. In the event that there is insufficient interest, the treasurer will be asked to return all moneys to those who have signed up together with any accrued interest.
David Eastburn, June 2008
Draft Rules for the Proposed Syndicate
These are just a first stab – someone will, in time, produce a better set, I’m sure. There are probably significant areas which still need to be addressed (I have not touched on the need for a sufficiently qualified/experienced skipper to be on board for the intended cruise to be undertaken – clearly when she is used as a houseboat, this is minimal, sailing to Fowey or the Helford River requires some knowledge, crossing to France, Spain or the Scillies, substantially more).
1. As early as possible, the syndicate shall determine what, if any, constitution is required and establish a Committee to manage the syndicate
2. Each week purchased will entitle a syndicate member to one vote
3. Syndicate members must be either Old Blues or have some family connection with Christ’s Hospital.
4. The maximum number of weeks to be purchased shall be twenty-five in all, running from the first Friday in April.
5. The life of the syndicate shall be for ten years, after which the boat shall be sold. Members may, if they wish, establish a new syndicate at that time, but no member shall be required to continue his or her membership of the old syndicate after that date.
6. The boat shall be based at Falmouth for 2009 and wintered ashore at the end of that season at a local yard. Thereafter, the Committee may consult the syndicate members, if it considers that an alternative base might be more appropriate.
7. There will be a lay-up period running normally from early November to late March.
8. The week prior to week one shall be available to volunteers for “a commissioning cruise†on a “first come first served†basis.
9. Weeks in October (an excellent sailing season in Cornwall) will be apportioned by the committee as they see fit, bearing in mind the following criteria:
i) Any possible use affording a sailing opportunity for young Old Blues or CH Grecians
ii) The need to recompense any syndicate member for loss of time (for any reason) during his own week(s).
iii) Any opportunity to reward any syndicate member or members who, in the opinion of the Committee, merit special opportunities to sail El Animado outside their allotted week(s).
10. In the first year, weeks may be purchased on a “first come first served†basis. Thereafter, in subsequent years, the weeks will be rotated by advancing them by three weeks; e.g. Week 1 in the first year will become Week 4 in year 2 and Week 7 in year 3. Similarly, the owner of Week 25 in the first year will be allocated Week 3 in the second year etc.
11. An internet forum will be maintained by which syndicate members can arrange to swap weeks and to discuss any matters of mutual interest (a closed area on the CH forum, perhaps?)
12. In the event that a syndicate member returns the boat late at the end of his week, or in an untidy or unseamanlike condition, the Committee may ask him to pay any reasonable costs thereby incurred by the owner of the following week together with such compensation to the deprived owner as the committee may determine (but not to exceed the annual fee chargeable for each week’s maintenance).
DLE, June 2008
(Please email me at
DavebytheSea@aol.com for further details)
