St Andrews Beach Apartments

St Andrews Beach Apartments

St Andrews Beach Apartments

St Andrews Beach Apartments

frequently asked questions

St Andrews Beach Apartment Outside ViewSt Andrews Beach Apartment Living RoomSt Andrews Beach Apartment Bathroom

Please find below common questions relevant to the purchase of a St Andrews Beach Apartment. Click on each question to expand the answer. Alternatively click here to download the Frequently Asked Questions in PDF format.

What am I purchasing?

The purchase of this apartment does not involve freehold title it is a right of use for a period of time. This style of ownership is extremely common overseas although generally for a much shorter time period.

This ownership structure is similar to the conditions of purchase for apartments in the alpine areas, a villa in retirement villages, beach boxes and time share accommodation arrangements. Many businesses such as hotels, pubs and golf courses operate under a leasehold agreement.

Importantly this lease stipulates that the property is to be utilised 100% for holiday accommodation and is not permitted to be used as a principle place of residence.

All conditions relating to the property are clearly defined in the registered lease document available on request.

Is there stamp duty payable?

Yes. Stamp duty is payable on the same basis as if the purchaser (lessee) was acquiring the freehold title, as is the case with any property purchased in the state of Victoria.

What happens at the end of the Lease?

At the conclusion of the lease in the year 2493, the ownership of the building reverts to the ‘landowner’ being the person or entity that owns the freehold title of Lot 2, 209 Sandy Road Fingal.

Can my lease be revoked?

No. Once the lease is registered it is assigned to the lessee the same as any title of land. The only way that any lease can be terminated by the lessor is detailed within the lease document that governs the procedures relating to default by the lessee or their agents on any conditions contained within the lease document.

Is the lease transferable?

Yes. The leasehold is fully transferable through sale or otherwise the same as any titled property.

Is there a body corporate involved?

Yes. It is a legal requirement that there is a body corporate as is the case in all complex style ownership structure sharing common land. The body corporate is currently being managed by an independent company Select Owners Corp Management, based in Kew.

What are the current financial obligations attached to the lease?

The current charges associated to the lease are:

  • An annual rental fee payable to the ‘landowner’ on October 1st, currently $1,510 indexed to increase annually by the movement in the CPI (All Groups)Index
  • An annual Body Corporate Fee of $1,336, billed and payable quarterly
  • Water and sewerage charges (usage and rates) are calculated and payable based on each units individual liability rating as contained within the lease
What does the body corporate fee cover?

The current charges associated to the lease are:

  • Building and public liability insurance
  • Landscaping of common ground
  • Building maintenance of exterior, common walls and buildings
  • Rubbish collection
  • Management of the body corporate affairs
What other costs are associated to the property?

The current charges associated to the lease are:

  • Charges for separately metered utilities such as telephone, internet, pay TV, electricity and gas are each lessee’s responsibility
  • Contents insurance
  • Internal maintenance of fixtures and fittings including replacement
Is the property development completed?

The development is ongoing in accordance with the master plan that is currently approved by the Mornington Peninsula Shire as part of the existing town planning permit.

Will this development require further financial obligation on the lessee’s?

The development allows for building apartment clusters of varying sizes and existing apartment owners will not be obligated to contribute any costs that are identifiable directly to common land containing new clusters of apartments.

A contribution to the upkeep of such developments as tennis courts, gymnasium, swimming pools and other such leisure activities built for communal use may be required in the future, however it is more than likely that these facilities will be built and operate on a user pays basis to minimise common ground maintenance payments by lessee’s.

Is a contribution to the golf course required?

The golf course land under separate ownership and is operated under leasehold with the lessee responsible for all expenditures related to the land designated as Lot 1, 740 Truemans Road Fingal.

Do I receive membership of the golf course?

No. Use of the golf course is on a ‘pay as you play’ basis. Currently each Apartment owner receives ten free rounds Off Peak and ten 50% off during Peak Times at the St Andrews Beach Golf Course annually.

Can I garage my own golf cart onsite?

No secured storage sites are currently available to apartment owners. Golf carts privately owned by lessees are only able to be used within the resort property. Casual and longer term cart hire agreements in relation to golf activity must be negotiated with the operator of the golf course.

Can I rent the apartment out?

Yes. The person renting is obligated to abide to the same conditions of use as the lessee and any breach of the conditions of the lease will be deemed to be a breach by the lessee.

Is there a rental pool that I can place the apartment into?

It is envisaged that in the future an arrangement will be in place to allow owners to place their apartments into a rental pool under a control structure yet to be determined.

When is the next stage of the development scheduled to start?

The exact timing of the rest of the development and master plan is currently being worked on with the town planning permit currently in place up to the 19th June 2015.

 

For further information please call 0434 623 858.

Operated by Golf Services Management Pty Ltd ABN 93007395904 :: Course Maintenance by Turnpoint P/L ABN 37 109 146 616 :: Web Design by www.davpatdesigns.com.au :: Link to St Andrews Beach Facebook page