A couple who spent thousands of pounds converting a 1960s industrial cargo ship into a spacious luxury 3-bedroom houseboat have revealed they are unable to sell the luxury property, despite being hailed the ‘best ever’ renovation on George Clarke’s Amazing Spaces
Christina and Rohan Tully spent 20 months converting the old vessel, which cost less than £100,000, into a three-bedroom, two-and-a-half bathroom family home where they have been living with their daughter, Elara, on the River Thames in south west London.
Their floating property was described as ‘one of the best homes I‘ve ever seen’ by George Clarke on Amazing Spaces in 2020, but after deciding to separate the couple put the boat on the market for £750,000 – only to discover that selling it is not a straightforward process.
Speaking to MailOnline, Rohan explained: ‘Boats are inherently hard to mortgage, and the mortgage rates are extremely high often at 10 to 13 per cent sometimes, which is ridiculous, and only for a period of 10 years.
‘So essentially, you need a cash buyer, and that really does whittle down our chances of finding someone in the current climate. It’s quite a niche market.’
He added that prospective buyers also need to be aware of the fees involved in owning a boat, saying: ‘Insurance is around £1,500 per annum and mooring costs are approx £14,000.’
Because of the difficulties with sellling, the couple have decided to replicate Omaze by putting their home into a lottery for the bargain price of £5 per ticket.
And Rohan is determined that the new owner won’t be stung by hidden costs, saying: ‘We had it fully surveyed which is valid for the next 6 years. That was done in July this year. Essentially, if someone buys it, they don’t have to take it out of the water for six years.
A couple who spent thousands of pounds converting a 1960s industrial cargo ship into a spacious luxury 3-bedroom houseboat have announced they are raffling it
The boat, which measures 150 square metres, includes a spacious kitchen dining area with a breakfast bar. The units are Ikea carcasses with fronts from superfrontdotcom
The living area in the £750,000 property features huge portholes and a skylight, specially installed to allow the space to be flooded with light. This space was inspired by a Moroccan riad, and a love of Scandi-chic interiors
‘One of the things I didn’t want is to be one of those Omaze stories.
‘So everything on the boat is up to maintenance, and the deal is, the cost will be covered for the first year.’
Taking the decision to float their most valuable asset on a raffle isn’t something the pair took lightly and only came about after they realised how particular the average buyer of a houseboat is.
Speaking to the MailOnline, Rohan explained the sticky situation they found themselves in while trying to sell the property.
The couple did initially have a buyer – who then moved abroad due to an ‘opportunity arising out the blue’, which wasn’t something they could have predicted.
The boat was off the market for six months while they negotiated with the prospective buyer and by the time the deal fell through, it was winter.
‘It is not an ideal time to sell the boat, as people prefer to looks at boats on a nice summers day,’ Rohan explained. ‘Also the outdoor space is so important with ou boat, its nice to be able to use it and have all the doors open.’
In addition to those pitfalls, getting a mortgage on a boat is a lot more difficult because they’re not offered by traditional lenders.
The bathroom features his and hers sinks and custom vanity units using mid-century furniture. Water is pumped to a tank that needs to be ‘pumped out’ once every few weeks at high tide
The exterior of Christina and Rohan’s boat on the river in south west London
In the absence of a cash buyer have decided to replicate Omaze by throwing their house into a lottery. There’s plenty of space for guests with the boat boasting a master suite and two single bedrooms
A floating proerty cannot be registered with the Land Registry and a bank will not lend money to buy an asset that is mobile like a boat.
Marine mortgage are are only available through specialist marine finance providers and tend to have much higher interest rates that traditional loans to buy flats and houses.
The rates can be above 10 per cent, and while it’s still possible to get a mortgage to buy a house on dry land with a 5 per cent deposit – although many banks do require 20 to 25 per cent – a deposit for a boat is generally higer at 30 per cent.
Although their raffle has been likened to the popular Omaze draws that see regular members of the public scoop multi-million pound mansions, Rohan says he has been keen to make sure there will be no unmanageable fees with his property.
Although Omaze give a cash buffer, they been criticised for the amount not being enough to help the winners with the running costs.
Most of the Omaze properties are sold less than 12 months after being won due in part to the eye-watering bills winners must pay for electricity, staffing, security and maintenance.
James explained: ‘We had it fully surveyed which is valid for the next 6 years. That was done in July this year. Essentially, if someone buys it, they don’t have to take it out of the water for six years.
‘One of the things I didn’t want is to be one of those Omaze stories.
With views of the river, the deck is perfect for entertaining and wildlife spotting
The table set for an Easter celebration. After the ‘adventure’ of renovating their boat, Rohan and Christina are selling up
The luxurious bathroom features a spa bath on a raised platform to enable river views and maximum relaxation and laundry utilities are hidden behind the doors on the left for a clean finish
Who needs a garden! The boat even has it’s own terrace and outdoor dining space
‘So everything on the boat is up to maintenance, and the deal is, the cost will be covered for the first year.’
As part of the raffle conditions 200,000 £5 tickets must be sold in order for the boat to be awarded as the main prize.
Completed in 2020, the houseboat is spread over two levels, measures 150 square metres and includes a spacious living room and a large kitchen dining area that leads out via large French doors to a beautiful outdoor terrace.
The master bedroom is en-suite, with a bath and twin basin vanity unit. There are two other single bedrooms and another separate washroom.
Views are aplenty, currently the houseboat looks out over the Thames at its West London mooring in Penton Hook Marina, it has easy access to Hampton Court Palace, Windsor Castle and Heathrow Airport.
It offers waterside living with urban convenience, and if you do fancy a change of scene, the boat can be moved to another beautiful waterside spot.
In 2020, George Clarke’s Amazing Spaces documented how the couple gave up their rental property in Paddington to renovate the boat.
After suggesting living on a boat as a ‘joke’ while on a riverside walk, Christina, who works for an events agency, and Rohan, who works in FinTech and grew up sailing with his family, decided to take the plunge.
Counter tops we purchased direct from a stone supplier in Slough
Patterned tiles and greenery addd a splash of colour to the bathroom – as well as unique artwork
The interiors are modern and chic, and are designed to look like a house rather than a boat – one of Christina’s prerequisites. Pictured: the view from the driving seat, overlooking the kitchen and the deck
The boat has underfloor heating, power showers, heated towel rails and a Crittall-style shower. Unlike in a house, the plumbing has to go upwards
While the work was being done, Christina spent her days looking for design inspiration on Pinterest while caring for their daughter. Pictured: the living area downstairs
Rohan travelled to Belgium to purchase an old cargo barge, hoping to pay somewhere between £50,000 and £150,000 – and claims he got ‘quite a good deal’ for his 40m-long vessel, paying less than £100,000.
Due to the barge being too big for most moorings back in the UK, the couple decided it would be ‘easier and cheaper to buy a 40m boat, snip 10m out the middle and stick it back together’.
They found a shipyard in Holland to do the work, and made the 10-day crossing to the Dutch port, which Rohan described as ‘quite the adventure’.
The boat remained in Holland for two months before sailing homeward to the Medway in Kent. While working full-time during the week, Rohan invested his weekends into their new energy efficient family home along with his father, installing insulation and underfloor heating.
They lived with friends while the work was being done, moving seven times – during which ‘exhausted’ Christina was breastfeeding and caring for their newborn.
Christina admitted this period was ‘beyond stressful’, saying: ‘It was the middle of winter and the boat obviously had no lights or heating. It was miserable chipping away at it.
‘Towards the end of the build there were delays – as there always are – which caused us logistical chaos with childcare and work.
In the last two months I was commuting two hours to and from work each day to get Elara to a childminder local to the boat.
Being a cargo ship, the boat needed ‘ballast’ – a foundation of cement – pouring into the hull to give it stability and to enable it to sit lower in the water
Christina Miles, 33, and her partner Rohan Tully, 36, transformed a 1960s cargo barge into a stunning two-storey floating home. Pictured before at a dockyard in Holland
The couple have been living on their boat – currently moored near Kew Bridge on the River Thames in south west London – since January. Pictured: the boat making its way down the Thames in central London
Rohan travelled to Belgium to purchase an old cargo barge, hoping to pay somewhere between £50,000 and £150,000 – and claims he got ‘quite a good deal’ for his 40m-long vessel
Rohan takes his kayak out for a daily trip – pictured being watched by their daughter from one of the ‘super-sized’ porthole windows
Perfect for chillier nights, the deck is home to a table with a built-in gas fire
Another view of the living area, which is big enough for a three seater couch and a projector, as well as a tiled fireplace and wood burning stove
Christina and Rohan’s bedroom is decked out much like the rest of the boat in wood flooring and also features a large porthole window
Christina designed the ‘powder room’, which has varnished wallpaper for better durability, a tiny sink and inbuilt speakers
The winner of the raffle will be able to move in to the boat straight away
‘We were having to leave our daughter with grandparents every weekend towards the end, which I found very difficult.
‘We ended up moving in with no heating and running the electrics from one extension cable just because I couldn’t bear it any longer. It was a huge relief to finally be on-board, even in that state.’
Being a cargo ship, the boat needed ‘ballast’ – a foundation of cement – pouring into the hull to give it stability and to enable it to sit lower in the water.
They also cut 10 ‘super-sized’ porthole windows into the sides to give them more light and views of the water – perfect for wildlife spotting along the river.
While the structural work was being done, Christina spent her days looking for inspiration on Pinterest while caring for their daughter.
Her aim was modern and chic decor so that the property would look just like a house and not the interior of a boat.
Christina said ‘Our beautiful houseboat was an adventure from start to finish. It has been an amazing chapter in our lives and something we will never forget. It felt right to continue the adventure until the very end.
‘We’re so excited that one lucky person will win this dream home and call it their own – we want them to experience the joy we did. We’re thrilled to be supporting the RNLI too.’
This raffle is being run on Raffall and accessible by multiple platforms. 10% of the hosts revenue goes directly to the RNLI. If you would like to enter visit winthebighouseboat.com
