The Adventure Syndicate has been designed for families and offers a great alternative to a second home. It comes from some of the experiences that we had when my children Stormy, Harper, and May were growing up. We wanted them to learn about the ocean, to feel the adventure of being at sea and the excitement of visiting new places. We wanted to teach them how to swim and dive in the ocean and to understand what it’s like to really switch off and enjoy a good book in a quiet anchorage. To feel the wind in their hair, to see the weather systems roll through and see all of the potential of the world around them. So we owned boats, and we took them far and wide and I have to say that it was one of the best things that we did for our kids as they grew up and we look back on those experiences as the very best of times.
But, like everyone else we were crazy busy at work, the holidays were short and for the most part, our boat sat in a marina unused, requiring maintenance and costing money. The Adventure Syndicate has been designed to provide you with all the good bits, but without the hassle and frustration of paying to own all of a boat that you may not be able to make full use of. Like everything we do at Arksen, I hope it encourages you to join us on this journey and that it is the beginning of a great adventure for you.
Founder of Arksen
Designed for explorers, made for adventure, so why wait?
Arksen has always been about much more than ownership. It’s about the experiences that are available to our community and the opportunities to go beyond the norm. We set out not only to build the very best explorer vessels but to provide the infrastructure and support to enable our community to use them to their fullest potential. The Arksen Explorers Club, Arksen Foundation and the 10% for the Ocean Pledge are the cornerstones of this experiential approach, and we are glad to see the impact that these initiatives are having on the industry as a whole.
We also wanted to open up more opportunities for our community and their families to embark on these life-enhancing adventures and work with us to engage in important work to help protect the oceans. And so we are proud to offer the Adventure Syndicate, a pioneering club via which Members enjoy shared ownership of one of our unique vessels and full access to the experiences we offer.
The Adventure Syndicate offers like-minded adventurers several major advantages:
- Significantly lower costs
- Financial flexibility
- Fully managed, no-hassle fractional ownership, from 2 to 10 weeks a year
- Fully equipped, crewed, maintained vessels with all key costs included
- Multi-year adventure-themed cruising itinerary
- Participation in science programmes run by Arksen Foundation
- Use of all adventure equipment for your greatest adventures
- A like-minded, family orientated community
Once in a while, an opportunity comes along that can change the course of our lives forever. The Arksen Adventure Syndicate is one such opportunity, one that provides extraordinary adventures and experiences for you and your family via
a multi-year cruising program in one of our European, Asian, American, or Global syndicates.
Designed for Adventure, Made for Explorers.
Enjoy zero hassle ownership and the benefits of a fully maintained, crewed, and equipped vessel with the financial flexibility to trade in and out of a syndicate at any time. But more importantly, in this time scarce and chaotic world, it provides the ultimate escape, a way of getting off the beaten track, enjoying the wilderness, and participating in projects that will help us better understand and conserve our world’s oceans.
Our planet is an awe-inspiring place. Full of incredible splendour, beauty, and hidden treasures. Its layers of culture, geography, and colour; from major cities to the smallest settlements, from the Arctic wilderness to the balmy tropics, from a perfect sunny day to a raging storm create an explorer’s paradise. Yet, while many of us might dream of experiencing some of these things, it’s rare that we have the time and tools to embark on and share these adventures. Our aim is to change that by providing everything that you need to start exploring the best that our planet has to offer.
Our approach to developing the Adventure Syndicate stems from over 25 years of boat ownership. As owners, we soon realised that few of us have the time or money to commit to the full ownership of a large vessel and that even when we do the hassle of maintaining and operating them can wash off the glamour.
It’s an unfortunate truth that the vast majority of yachts sit in the same marina,
little used, year after year, meaning that owners cruise the same waters and anchor in the same bays. Over time, the adventurous spirit that was the inspiration for buying a boat in the first place can get lost.
However, by creating a fully managed syndicate around a vessel, we can significantly reduce the cost of ownership and ensure that the yachts are fully equipped, operated and maintained to the highest standards. Better still, the Adventure Syndicate offers global opportunities for adventure via four-year
cruising itineraries while working with the Arksen Foundation to support crucial marine research.
You may love sailing in the Mediterranean, or cruising around Northern Europe. You may have dreamed of ski touring in the Norwegian Fjords, or sailing to Kamchatka, or across the Pacific Ocean. You may want to explore Newfoundland or Greenland or go diving in the Caribbean. The Arksen Adventure Syndicate provides the opportunity to do all of
these things and more.
Our syndicates are each based on a cruising area: Europe, the Americas, Asia or Global. Members of one syndicate can swap weeks in one cruising area for another.
We design the itineraries with all syndicate Members around a 4-year cruising program that is designed to capture the spirit and soul of the region.
The Adventure Syndicate is all about… adventure. Allowing you and your family to set off on the journey of a lifetime in a vessel that you own. The logistics and support are provided by the Arksen Explorers Club. Each syndicate chooses its own itinerary and adventures and these might include the great explorer routes used by Cook, Nansen, Scott, Cousteau or Tilman, it may be following the ancient sailing routes around the Mediterranean. Or a plan entirely of your own making.
Whatever adventure you want to embark on, the equipment
is onboard. Diving and snorkeling, climbing and hiking, sailing kayaks, paddleboards, sea bobs, Arksen Expedition Rib, kitesurfers, water skis, wakeboards and even underwater
and airborne drones.
The Arksen Foundation is a not-for-profit organisation that provides project funding, facilitates cutting-edge scientific research and creates innovative media to inspire a greater understanding of the beauty, complexity, and fragility of the ocean ecosystem and its interfaces with the land around it.
It is a platform for research, conservation and creativity in support of the identification of new species, preservation of known species, and stimulating behavioural change globally. The projects we support are in alignment with our cornerstones; research and science projects, education, exploration and sport with purpose. Each vessel in the Adventure Syndicate makes the 10% for the Ocean Pledge, donating 10% of its operating time to scientific work, and the syndicate and members are encouraged to be actively involved.
The Adventure Syndicate offers fractional ownership of an Arksen vessel, where the full cost of ownership is offset by commercial charter for several weeks per year. The syndicate is designed to last 10 years, but members can trade out at any time.
Syndicate costs include building the vessel and, post-launch, the costs of crew, maintenance, food while on-board, berthing, and relocation costs. All expenses are shared by members in proportion to their level of ownership and are offset by the commercial charter income.
Arksen guarantees that at least 5 weeks of commercial charter income will be achieved in the first year. The Explorers Club works with a wide range of charter companies and operates its own charters to maximise charter income in subsequent years.
Syndicate members are allotted 25 weeks usage in the year and 13 weeks are allocated to commercial charter. In addition, 4 weeks are set aside to honour the 10% for the Ocean Pledge and are used to support scientific research sponsored by the Arksen Foundation. The remaining weeks are for maintenance and relocation.
At the end of the 10-year syndicate period, the vessel is expected to worth approximately 46% of its purchase price. On sale, the proceeds are distributed to the syndicate members in proportion to their share of ownership.
However, syndicate members are free to sell their ownership share at any time. Arksen actively promotes the syndicate shares through a secondary market for membership spaces.
More details of the costs are included in the FAQ, but as an example: Alice is from the UK and has chosen to join a European syndicate that is buying an Arksen 70. She has decided to buy two weeks of adventure on-board per year for her friends and family. For these two weeks of usage Alice will pay £485,000, spread over 18 months (which she may choose to finance), and will have 8% ownership of the vessel. For every year of membership to the syndicate, Alice will expect to pay approximately £32,600 to cover her share of the upkeep of the boat. The commercial charter of the vessel should keep this number down. These costs represent significantly less than half of the cost of chartering a vessel for the same period.
Alice expects to enjoy the benefits of flexible ownership for 10 years. At the end of this period, Alice will receive a share of the proceeds of the sale of the boat equal to her percentage of ownership. If she owns 8% and based on 54% depreciation over the period, she would expect to receive a little over £220,000. At this point, the net cost to Alice over 10 years will have been approximately £326,000 or £2,720 per month.
The beginning of a great adventure
What is an Arksen Explorers Syndicate?
How is a syndicate set up?
Each Syndicate Member is a member in two senses of the word: a shareholder in the company and part of a community of like-minded souls.
How is the syndicate operated?
The Director will manage the day to day operations and finances of the Syndicate, convene Member meetings, agree usage allocations and the cruising itinerary for the following 24 months and appoint and oversee the Captain of the vessel.
Are there different types of vessels available in the syndicates?
The Syndicate offer is available for two of our most capable vessels:
Arksen 70 Hybrid accommodates 7 guests in 3 cabins.
Arksen 85 Hybrid accommodates 10 guests in 4 cabins.
What is the specification of the syndication vessels?
Diving, snorkelling pack including wet suits
Climbing harnesses, carabiners and ropes
Drones and underwater drones
Arksen Expedition rib
What adventures are open to Syndicate Members?
The Arksen Explorer’s Rally is an epic cruising adventure open to the owners of suitable vessels, especially Arksen explorer vessels. A small fleet of vessels will cruise in company, again with logistical, administrative and operational support provided.
Are there different syndicate types?
Instead, subject to availability, the Arksen Explorer Club will enable Members of a European Syndicate, for example, to undertake the adventures that can be enjoyed from a boat in the Americas.
To accommodate the widest community of Members we offer
4 Syndicate types;
European / Arctic cruising programme
The itinerary includes the Mediterranean, UK and Ireland, Baltic, Norway, Iceland, Faeroes, Greenland.
Americas / Arctic cruising programme
The itinerary includes the Caribbean, Central America,
South America, North America, Newfoundland, Greenland.
Asia / South Pacific
The itinerary includes Australia, New Zealand,
South Pacific, Indonesia, East Asia, Japan, Kamchatka.
Roving itinerary with 5-year cruising programme.
(Note that there may be differences in operating cost and Member contributions between the Syndicate types. These differences will reflect, for example, the increased fuel consumption of a Global itinerary vs. a European itinerary. Certain assumptions have been made in our high level calculations.)
How is the cruising itinerary decided?
How is usage allocated?
What about the rest of the time?
Can Members use the 14 weeks allocated to commercial charter?
What is the 10% for the Ocean Pledge?
Practicalities of Ownership
Do I have to be on board with other Syndicate Members?
What if I don’t expect to use all of my allocated weeks in a given year?
Members can also offer allocated but unused weeks for commercial charter and use the charter profit to offset their costs for the year. How many unused weeks are sold for commercial charter will depend on market demand.
What if I want to use more weeks in a given year?
Members can also purchase additional time from the pool of time available for commercial charter.
How are weeks allocated between members?
Members may also choose to share time on-board, by agreement, thereby increasing the total amount of time on-board each year.
Is the vessel chartered out to third parties?
For several weeks each year, the vessel is made available for charter to third parties. The revenue from this activity is used to offset the operating costs for Members. Members have priority over the allocation of time. Charter availability is confirmed
only after syndicate member usage has been agreed. The actual charter revenue achieved will depend on the amount of time the Members allocate to charter and market demand.
In the first year of the Syndicate operation, Arksen will guarantee at least 4 weeks of commercial charter revenue.
Who crews the vessel?
How is the vessel maintained?
Is food included?
Can I order specific food in advance?
What about fuel and berthing costs?
What if I want to stay at a specific marina?
How many guests can each yacht take?
The Arksen 70 has three cabins that can accommodate up to 7 people.
What is the swap over day?
What level of crew and service can I expect?
Can I upgrade the level of service?
Do I have to tip the crew?
What if I want to crew myself?
What happens if I damage the boat?
What happens if the vessel is out of service during my weeks?
Will I have to pay for the upkeep of the boat?
What is the legal status of the syndicate?
How is the company run?
The company will have a sole Director, appointed by Arksen. This person will be responsible for overseeing all corporate and financial matters of the company and will be the primary point of contact for the Members. The Director will appoint a Captain, who will be responsible for the day-to-day operational running of the vessel – the company’s primary asset – with the support of the shoreside Arksen team.
Regular management accounts will be provided to all Members.
How long does Membership last?
What if I want to get out early?
If no other Member wishes to buy out the leaving Member, Arksen will market the share to potential buyers who have registered interest. To fund the marketing of the shares and simulate market demand Arksen charges a 6% commission on the value of the sale to the new buyer and the retiring Member.
The Member is also free to market their share directly.
The Economics of Membership – Investing in a Syndicate
What is my minimum investment required to become a Syndicate Member?
The amount will depend on which vessel is bought by the Syndicate, but the minimum investment level represents an 8% share.
25 weeks per year of usage are allocated to Members, to be split between them according to the membership size.
This means that 8% membership will get you 2 weeks per year Member Usage.
Above 8%, further investment will be accepted in increments of 4%, with each 4% representing one week of Member Usage.
Can I get together with friends to buy into the Syndicate?
How many weeks of priority usage will I get as a Member?
For example, if you own 20% of a Syndicate, you will be entitled to 5 weeks of usage of the vessel owned by the Syndicate.
If I am a UK taxpayer, can I invest through the Enterprise Investment Scheme?
For the avoidance of doubt, no representations or warranties are made to this effect by Arksen and no reliance should be placed on Arksen in respect of the availability to an investor of income tax relief under the Enterprise Investment Scheme.
How are Member payments into the Syndicate structured during the vessel build?
What about after the build?
Is there an option to finance buying Syndicate Membership?
1) Asset Finance
Arksen can offer an asset finance programme, designed to smooth the cash obligations on Syndicate Members.
These loans would be non-recourse to the Members but would include stringent requirements for Members to ensure the company is funded to make debt service obligations.
More detailed information is provided in the section below called ‘Debt Finance’.
2) Personal Lending
Members are of course free to secure personal loans from lenders of their choice in order to fund costs of entry and ongoing commitments in the Syndicate.
Arksen would be happy to make introductions to potential lenders but these arrangements are for your own personal accounts and independent of Arksen.
Am I personally liable for the debt?
What happens if a Syndicate member defaults on their obligations so that the company cannot service the asset finance?
The remaining Members will have the right to purchase these shares and step into the defaulting Member’s shoes. If no other Member steps into the defaulting Member’s shoes, Arksen will seek to introduce a new Member.
The Economics of Membership – Membership Contributions
Are there ongoing costs associated with Membership?
What is included in the Members’ contributions?
If the Syndicate has taken on asset finance, Members’ contributions will also include debt service.
What form will the annual contributions take?
How are the Members’ contributions calculated?
What happens if there is a shortfall?
What happens if there is a surplus?
Th Economics of Membership – The End of Membership
What happens at the end of the Syndicate’s life?
Alternative arrangements, such as continuing the Syndicate, can be accommodated upon agreement between the Members.