Boat Syndication

Workforce Marine will fully manage your investment to best maintain the boat, we clean the boat after each usage and make sure it is ready for the next cruise, just book the day, turn up to a tidy, fueled boat in ship shape condition, fresh linen and ready for you.

How it works

Owning a boat is not easy. Often boat owners invest a lot of money to live the dream but find the cost and time required to keep the dream alive difficult. At Workforce Marine, we understand that. Our team have sailed, cruised, raced, rented and owned boats for years and years, in fact a few lifetimes, we know all the best ways to enter into boat ownership.

Workforce Marine have a range of options in boat syndication. We choose the best boats that suit the Australian buyer, both sail and power boats. Just choose the boat that suits your budget and lifestyle. Join a syndicate, get trained up and enjoy.

We fully manage your investment to best maintain your boat; we clean the boat after each usage and make sure it is ready for the next cruise. Just book the day, arrive to a tidy and fueled boat in ship shape condition with fresh linen and ready for your cruise. Step aboard and show your family and friends around your boat, before heading out to the best cruising areas of Australia. On return to the marina, just hand back the keys and head home.
Syndicate Members may wish just to sit on the boat at the marina and chill out; no problems, this is very common and a great way to catch up with friends and colleagues in a different environment.

Do you often entertain your clients? Consider the advantage of cruising the harbor for business purposes. Workforce Marine can assist with professional captains and catering so you can focus on your guests.

Please consider the option of boat syndication as the first step into ownership if

  • You are not sure about buying a boat outright;
  • You don’t want to invest a lot of money but still, love the idea of owning a boat;
  • Are a bit time poor or don’t understand boat maintenance and upkeep;
  • Don’t have the time to use the boat to get the most out of the investment; and
  • You are a corporate or business manager who can use a boat for business relations.

What Workforce Marine can offer its Boat Syndication Members

• Advise you on the best boat to suit your needs;
• A fully professional and experienced team of yachting professionals to manage and maintain your boat;
• A well-considered and legal agreement that each Syndicate Member signs and fully understands prior to owning the share;
• A secure and legally binding share of a boat that can be sold or traded when you want;
• A comprehensive booking system for you to plan your time on the water;
• Popular pristine and interesting cruising grounds; and
• Opportunity to learn how to cruise, sail and navigate your boat.

FAQ’s

What is the investment required for a Boat Syndication?
  • Many power cruisers, sailing yachts and catamarans are available for boat share;
  • Workforce Marine will buy a suitable boat or will broker boats that are available for the boat share concept, in each case, Workforce Marine will fully manage the transactions and provide documentation for your investment;
  • Boat syndication is available to those with a capacity to invest in the order of $50,000 or more. We offer a shareholding of our syndicate boats to a maximum of six owners per boat so each owner has ample availability of usage. You may wish to take a greater share of a boat to get more access.
Locations for Boat Syndicate boats:
  • Members have access to the Whitsunday Islands, Sydney and Pittwater, although most of the time, Sydney will be the base for the boat; and
  • When boats sail from one location to the other, members will be invited to complete the cruise and help as crew, learning along the way!
What paperwork do I get when I become a Syndication Member?
  • A certificate of title naming you as the Owner of the Syndicate ShareShare and the percentage (%) that you own of the Boat.boat;
  • Declarations, transfers, documents or instruments requirement by any Government Authority that recorded the transaction;
  • Evidence of the unencumbered title to your share;
  • An owner’s comprehensive guide to Boat Syndication;
  • Access to the online logbook and reservation roster for reservation of usage of the boat;
Who can be the skipper on my boat?
  • Workforce Marine believes that boats under their management must be owned by likeminded and reasonably experienced owners so that the risk for damage and accidents is minimized;
  • Your boat must have an Workforce Marine Authorised Skipper aboard whilst underway; or
  • Workforce Marine can provide a professional Captain at $60 per hour.
Workforce Marine Authorised Skipper – what’s that?
  • Skippers are required to have attained specific Royal Yachting Association qualifications or are ready to commence training and assessment. Skippers who have RYA qualifications are invited to submit their boating resume for approval. Our Syndication Agreement allows you to nominate one or two persons (over 21 years of age);
  • Workforce Marine Authorised Skippers have their approvals granted by the Workforce Marine Director; and
  • Owners and or their Skippers are also subject to an insurance approval.
What happens if I am new to boating or my boating resume is insufficient / not approved?
  • Don’t worry, do you have a family member you can nominate?
  • You will receive the Workforce Marine Skipper training dates for the Workforce Marine Skipper Training prior to the commissions of the Boat for usage and be expected to take this training and achieve the necessary certification. Enjoy and embrace the training to feel confident aboard your boat.
What is the RYA Workforce Marine Skipper Training?
  • The Accredited Skipper of the boat is required to have the RYA certification or be prepared to take the course, which is free of charge; the minimum certificate level is RYA Powerboat Level 2 for power boats or the RYA Day Skipper for sailing boats;
  • The RYA Workforce Marine Skipper Training will consist of a minimum of three (3) consecutive days for Training and Assessment for daylight use and one (1) Evening Workforce Marine Skipper Training for overnight use on the boat. Successful completion of this Workforce Marine Skipper Training will permit you to book your boat for your first cruise; and
  • More or advanced Workforce Marine Skipper Training is available if required at a small cost.
What are the do’s and don’t of Syndicate Boat Ownership.
  • Do get your Approved Skipper Approval as soon as possible;
  • Do book your next cruise! Our comprehensive booking system allows you to book your boat at a certain date and be sure it will be ready for you and your crew;
  • Do use your boat! Syndicate Members are to be entitled to use of the boat in a proportional and fair manner. When located on Sydney Harbour or Pittwater, the Members will book the boat for a day or weekend. In the Whitsundays, the use is in 7-day blocks;
  • Do be respectful of the other members’ rights, and with a view to reaching equitable agreements on use from time to time. Don’t expect to get all the popular Public Holiday’s;
  • Don’t forget you can negotiate directly with each other, or via Workforce Marine to swap allocated weeks with any other Member; and
  • Don’t sublet or hire or loan your boat out.
What are some of the T’s and C’s of Syndicate Boat Syndication?
  • The boat will be operated with an Accredited Skipper or a Professional Captain aboard and in control during the cruise; and
  • You will agree always to be bound and comply with; the Boat Syndicate Agreement, the Boat Operating Manual, the Insurance policy, the maintenance and service procedures, laws or customs for safe operation of the boat and the laws of the state and waterway.
Communication with Syndicate Members:
  • All our Members will get a regular update on their boat and what it has been doing. You will receive information about the others joining the boat share plan;
  • If you feel that the boat has not been treated or maintained correctly, we welcome your feedback, we are proud of our ability and experience and will make sure that these issues are minimized; and
  • Each shareholder will be encouraged to meet with management at regular opportunity to discuss the plans for the boat, its maintenance plan.
Management and operating costs payable by boat share Syndicate Members:
  • Syndicate Members will each pay Workforce Marine a service fee which will constitute the only fee for providing the services to the Syndicate; and
  • Members will each pay their proportion of the disbursements, to cover booking and managing the Owners’ usage, cleaning, berthing fees, maintenance, insurance, delivery and other costs.
What happens if someone damages my boat?
  • Workforce Marine staff check the boat after each outing to ensure nothing has been damaged by the shareholder. We check under the waterline as well. If in the rare case damage has been caused, our Workforce team will make good the repairs and inform other shareholders as required;
  • Damage caused by a Syndicate Member will be investigated immediately. Damage caused through negligence or poor seamanship may result in the Member at fault being invoiced for the damages to avoid an insurance claim and increases in premiums. Multiple occurrences of neglect and failure to adhere to operating procedures will render the Approved Skipper to have his approval cancelled until further training and requalification is achieved; and
  • Workforce Marine actively ensures that your boat is protected against bad weather. Each day the marina team will check the boat and make sure it is safe from the elements. Workforce Marine will transfer your boat from berth to berth or mooring from time to time in order to reduce marina costs for the syndicate.

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Right to sell your Boat Syndicate shareholding:
  • Any Member may sell their shares in the boat at any time but will first give other Members the right to buy their Share for the agreed price; and
  • If there is no acceptance by other Members of the Syndicate, you may sell it to a third party approved in writing by the remaining Members, with such approval not to be unreasonably withheld.
  • Workforce Marine will advertise and sell your shares. Outside brokers are not permitted to sell or advertise your share for sale, nor be part of any negotiations.
How long is the Boat Syndication arrangement?
  • Boat Syndication Agreements have different expiry dates, please call for details;
  • On expiration of the Boat Syndication Agreement, the Members all agree to sell the boat in its entirety;
  • Members shall be entitled to their pro rata share of the advertised and agreed sale proceeds; and
  • Workforce Marine will advertise and sell the boat. Outside brokers are not permitted to sell or advertise your share for sale, nor be part of any negotiations.

Want to purchase a share in a boat with us?

The Workforce Marine Brokerage represents both new or old power and sail vessels.

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