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The Club Investment Real Estate - Your frequently asked questionsWhat am I buying?You are purchasing a freehold unit titled luxury apartment that you own in perpetuity. What is the purchasing procedure? Pay a deposit of 10% on signing an unconditional agreement with the balance payable within seven (7) working days after the date of the completion or issue of titles, whichever is the later. What does the Body Corporate do? The Body Corporate controls the administration and the general running of the complex but is not responsible for managing rental returns. The Body Corporate is responsible for all general maintenance and the upkeep of facilities, common areas, grounds and the building. The Body Corporate costs include all of the above and insurance costs on the building. How much is the Body Corporate? The proposed Body Corporate fee for a: 2 bedroom apartment is $2,200.00 per year 3 bedroom apartment is $2,800.00 per year 4 bedroom apartment is $3,500.00 per year How much are the Council Rates? These will not be struck until the building is complete, however, we expect them to be approx per annum; 2 bedroom apartment $1,700.00, 3 bedroom apartment $2,800.00, 4 bedroom apartment $3,500.00. Is there an on site manager? Yes – a professional full time live in on site manager will ensure the development is maintained to a high standard. Who is the developer? Wensley Developments Ltd. The company moved into investment property development in the Queenstown area in 1995 and developed 18 apartments on Frankton Road called ‘The Remarkables Retreat’ followed by ‘The Point’ in 1998. In 1999 it built a further 38 luxury apartments, ‘The Glebe’, on Stanley Street. The company then built the 80 apartment complex now known as ‘Outrigger The Beacon’ on Lake Esplanade. Construction of ‘The Shore’, 83 apartments on Frankton Road, was completed in January 2006. The company’s next project after ‘The Club’ will be ‘The Marina’, an exclusive lakefront development at Frankton Marina. Who is the architect? Edwin Elliott. Ed has been involved in his own architectural practice specialising in Queenstown projects since the early 90’s and is an award winning architect with a great sense of style and space. Do you offer guaranteed returns? No, but we ensure the solid backing of a professional management company with a proven track record coupled with extensive, quality marketing to ensure long term gains. Will The Club’s location effect the rental returns? The Club is located within easy reach of the town’s attractions, but enjoys the peace and tranquility of a lakefront location. It has been specifically chosen to appeal to visitors and is expected to have a positive effect on occupancy levels. Can I on-sell my apartment through Wensley’s in the future? The Wensley Development Group can on-sell your apartment subject to certain conditions. If you wish to on-sell your apartment, please speak to us about your specific requirements and we will be able to advise accordingly. When does The Club complete? The Club is due to be finished by mid 2007. |
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