It's so easy to co-own a barge!

LUXURY BARGE ... One of the 100 modern vessels jointly owned by up to 12 members

By Kevin McGrother

December 21 2005

AN organisation which promotes co-ownership of canal boats is preparing to launch its 100th vessel.
OwnerShips sells shares in canal barges, offering people regular use of a well-maintained and equipped vessel, without the expense of sole ownership.
Its latest boat, the Huxley will be officially launched at OwnerShip's annual show in February 2006.
And if you think barges mean basic accommodation - you'd be mistaken.
The Huxley is an example of the latest new generation boats - a luxury six-berth, 58 foot long vessel comes complete with all the latest appliances such as a flat screen satellite television and a fridge freezer.
OwnerShips' customers all part-own their own vessels. Each boat is shared among a maximum of 12 co-owners, guaranteeing each co-owner at least three weeks use of the boat each year, including two weeks in the high season.
Remaining weeks are made available at no extra cost to co-owners on a rotating priority basis and each winter, every boat receives a thorough maintenance check and repairs or improvements carried out.
There is no limit to the number of shares an individual can buy, but buying three or more in the same boat undermines the economic reasons for doing it.
Phil Capp of OwnerShips told the News that the co-ownership scheme differs to the often-criticised timeshare industry: "Unlike timeshare, the company retains no interest in the boats.
"This is not about leasing vessels - its outright ownership by the co-owners, supported by our maintenance and support service. People buy shares in the boats - ranging in price from £1,800 to £9,240 depending on size and style - which they can keep as long as they choose.
"Some co-owners have been with us since the organisation was launched in 1990; others stay for a few years and then sell on their share in the boat."
Annual meetings are held throughout October and November where co-owners meet and take decisions regarding their boats.
These might include deciding where to moor the boat for the coming year and whether any refurbishment or decoration is needed.
Since its establishment OwnerShips has always tried to promote a club atmosphere and these meetings are as much social as business occasions. Many friendships have been formed, says Mr Capp.
OwnerShips has seven full-time staff members and also employs local managers based at its 20 offices located between Yorkshire and Wiltshire - the organisation also has six barges based in Auxerre, France.
In total, the fleet of boats is co-owned by between 1,100 and 1,200 people.
Mr Capp believes the boating industry to be buoyant in every sense of the word: "There is a definite revival in boating as a holiday and leisure pastime.
"There has been a lot of investment from government and other bodies in repairing and restoring canals and many city centres now have prestigious waterside developments."
OwnerShips' 2006 show takes place from 4-5 February at Braunston Marina, just north of Daventry. All of the organisation's boats will be on display, entertainment is provided and admission is free.
To find out more about OwnerShips visit
www.ownerships.co.uk or call 020 8888 5555.