FREQUENTLY ASKED QUESTIONS

You are purchasing a 1/12^th share in the freehold strata title of Apartment 104 for which you will receive a separate freehold title. Each purchaser of a 1/12^th share is entitled to occupy the apartment for four (4) weeks each year.

Why Should I purchase?

Firstly, it allows you to enjoy the benefits of a luxury vacation apartment for a fraction of the price of total ownership. This allows you to keep more of your hard earned capital available of investment in a diversified portfolio of assets.

Secondly, it enables you to own a share of a lifestyle asset on a hassle free basis. Not only are all the operational and maintenance issues taken care of by the Manager but you are only responsible for a fraction of the cost.

Thirdly, in addition to the use of the apartment you also have access to and use of all the other amenities associated with the Pavillions on 1770 Agnes Water Complex.

Can I elect to sell my ownership at any time?

Yes. You can elect to sell your 1/12^th share at any time just like your other real estate assets. The only restriction is that you must first offer your 1/12^th share to your Co – Owners in accordance with the procedure set out in the Co - Ownership Agreement. A benefit of Co – Ownership is that the other Co – Owners provide a ready market for your share should you decide to sell or a source from which to acquire additional shares.

Is Apartment 104 fully furnished?

Yes. Full details of the furnishings are listed in the Schedules to the Co – Ownership Agreement.

How often can I stay in the Apartment?

Each Owner is entitled to stay for up to four (4) weeks each year.Christmas, New Year, Easter and School Holidays make up twelve (12) of the most popular weeks in each year. Each Owner is allocated one of these twelve weeks each year by way of an annual ballot. Owners are free to exchange amongst themselves the week received in the annual ballot.

How do I make a reservation?

On the manager’s website there is an electronic diary that can only be accessed by Owners. All bookings are made and confirmed through this electronic diary.

Can family and friends use the Apartment?

As an Owner you can nominate family or friends to occupy for part or all of your four (4) weeks each year. Plus should you wish to occupy for more than four(4) weeks extra weeks can be booked from the Unused Weeks Register on the Manager’s website.

The Manager looks after the complete maintenance of the interior of the Apartment and the upkeep of the fixtures and fittings in accordance with the Management Agreement. All common areas and amenities such as the swimming pool and spa are maintained by the body corporate.

Can I mortgage my property?

Yes. You own a freehold title to your 1/12^th share and are able to use this title as security for a loan. Any such loan is secured only against your share and gives the lender no rights as against the shares of other Co – Owners or the Apartment itself.

Does the sale or mortgage of another Co – Owner’s share have an impact on my share?

No impact at all. Each Owner has a freehold title to their 1/12^th share and all, Co - Owners are registered as tenants in common.

Each Owner’s interest in the title is completely separate to that of other Co – Owners. Therefore each Co –Owner can sell, transfer, mortgage assign or gift their interest as they see fit subject only to the terms of the Co – Ownership Agreement in relation to resale.

What annual costs do I have to pay?

Each Owner is required to pay 1/12^th of the operating and maintenance expenses in accordance with the annual budget provided by the Manager and approved by the Co – Owners.