Now the credit crunch is going offshore. Holidaymakers unable to afford their own luxury boats are being offered the chance to buy £2m timeshare breaks on a fleet of new “super-yachts”.

Impulsive ocean-going breaks may prove difficult, however, as the participants in the scheme will have to call a concierge to make sure one of the yachts is free – and in roughly the right part of the world – before setting sail.

The luxury yachts are designed by the architect Lord Foster. The first vessel is set to be delivered by the Rodriquez Cantieri Navali yard in Italy this September. Nine more will be built over the next three years.

The “fractional ownership” scheme could become a model that others follow as would-be yacht owners are forced to surrender total ownership in order to avoid the steep costs of year-round crews, fuel, insurance and mooring.

So far 20 financiers, chairmen and entrepreneurs have joined the YachtPlus scheme, including Lord Foster himself, the chairman of the department store Debenhams, John Lovering, and Mike Balfour, the founding partner of the gym chain Fitness First.

Sergio Dell’Acqua, the chief executive of YachtPlus, said: “The average use of a 40 to 50-metre boat is 30 weeks a year. The rest of the time it’s a pain.”

Participants can spend up to 34 nights every year on board one of the £16m yachts. Each vessel accommodates 12 guests and eight crew.

The aluminium-hull, 132ft yachts are said to provide significantly more light inside and deck space outside than rivals in the same class.

The part-time owners will be able to enjoy a glass-walled main saloon with 180-degree views. Over the eight years of the scheme, the owners can rent the super-yacht out for up to £80,000 a week in high season – and can expect to recoup 70% of the initial investment when each of the luxury boats is sold.

Explore UK News

• Crime News

• Education News

• Health News

• Science News

• Scotland News

Times Recommends

• Brown gambles it all on rescue plan
• Motherhood boosts female brain power
• That's no old FT, that's my naked wife