Riviera's 5800 Sport Yacht syndication

A new Riviera 5800 Sport Yacht will be added to Rivera Syndication's popular line up of shared ownership vessels at this year's Sanctuary Cove International Boat Show.

The vessel, named Bellini, will spend most of the year at Sanctuary Cove but will be at Hamilton Island for 10 weeks each winter and in Sydney Harbour or Pittwater for 10 weeks each summer.

Riviera Syndication managing director John Russell says the boat has been extremely well received by the luxury market and seven of the 10 shares, which cost $239,000 each, have already been sold.

Russell says that each of the owners will get a week aboard in both Sydney and Hamilton Island while the Boxing Day and New Year's Eve week would be a co-operative affair where owners could mingle aboard while a professional skipper looked after the boat.

Owners will also have the chance to travel to Hamilton Island aboard the boat when skipper Jimmy Thorn takes it up from the Gold Coast each winter.

Russell says the boat has been commissioned with added extras including a rear-facing lounge in the cockpit, a kayak, a centre console tender with a 20hp outboard and an additional two-berth cabin with its own ensuite, air conditioning and sound system.

"The additional two-berth cabin is popular with families as it gives children a separate living area," Russell says.

He says Riviera Syndication also ensures there is a range of spare parts aboard the boat, such as a fresh water pump, to ensure holidays go smoothly.

"From experience we have learnt that if you have a water pump fail on a boat, you have no toilet, no showers and no fresh water -- so at least with a spare it is simply a swap over and the owners experience no disruption to their leisure time," Russell says.

All Riviera Syndication owners receive an individual three-day training session on board the boat with a skipper to ensure they are confident in their handling of the vessel.

The company offers syndication on models from 36 to 58 feet in various ports around Australia.

Owners simply have to turn up with their friends and family to enjoy their time aboard. Once they have paid their share of the syndication owners are only responsible for their share of the annual on-going costs.