Foster Designed Superyacht

First sighting of fractional ownership yacht

By IBI Magazine/Michael Howorth

The first of the Norman Foster-designed superyachts for use within YachtPlus, the fractional ownership programme, has been launched. The yacht has been craned into the water at Massa Carrara in the north of Tuscany and is in the final stages of fitting out.

Formed in 2005 by a group of international financial investors, YachtPlus set out to introduce one of the most spectacular and contemporary yachts on the market. This is the first of 10 identical superyachts to be built over the next three years at the Rodriquez Cantieri Navali yard in Italy.

This four-deck boat has an overall length of 41m (135ft) and, once commissioned, will have five suites for up to 12 guests at any one time. They will be looked after by a permanent crew of seven.

In order to join the YachtPlus ownership lifestyle programme, an initial payment of €1.85m will give a 1/8th shared ownership of the yacht and guarantees 34 nights per year on board, 11 nights peak season in the Mediterranean, 11 nights peak season in the Caribbean and two six-night cultural tours.

In addition there will be an annual service charge of €200,000 to cover 24/7 lifestyle management service, marine and hotel operations, a permanent crew of seven, mooring charges, year-round maintenance and mechanical upkeep, marine and port charges, trans-oceanic crossings and cruise itineraries management.

Ultimately 1/8th ownership will also give access to the YachtPlus fleet of 10 identical yachts worldwide, so owners can choose when and where they go. The contract period is for eight years after which time the yachts will be sold and the owners will receive full pro-rated proceeds from the sale.



(27 February 2009)