Retirement Village Living in QLD - Buyer Overview
Location
Situated in the heart of the Daintree, Mossman Rivers Retirement Village sits right in the Centre of the Northern District's Health Precinct and is just a short stroll into the Centre of Town. With a new shopping village and a Woolworth's also within a 5-minute drive, the area has everything needed for easy and well-located retirement living.
Titles
Generally speaking, homes are purchased by way of a 99-year Lease registered in your name(s). Full information is noted on the Queensland Department of Natural Resources and Water database. Your lease on the title is fully protected by a statutory Government charge over the Retirement Village land.
Capital Gains
You are entitled to 100% of any capital gain upon the future re-sale of your Unit.
Community Facilities
The Village facilities include a large clubhouse, well-stocked library, pool table, lounge area, dance floor, commercial kitchen, manager’s office as well as a heated pool. Outside is an exercise area, outdoor pool and spa, BBQ entertainment area and croquet lawn. The Village also boasts a large work shed/craft area alongside well established and beautiful garden landscaping. This village is one of the first Greenstreet style developments in Queensland which maximises security and privacy with optimum use of the Common Areas and Common Facilities helping to provide an attractive lifestyle for retirees.
On-Site Maintenance
Village Management carry out maintenance of Common Facilities, Common Areas, Residents’ lawns, and gardens as well as the exterior of the homes. The current Public Information Document (PID) for the Village includes more specific details. Maintenance costs are covered by the General Services Fee (GSF) and Maintenance Contribution Funds (MCF).
Mossman Rivers Retirement Village General Service Fees:
General Service Charge
Currently $TBC per calendar month. In all retirement villages the Residents contribute to the overall costs of maintaining and operating the village. At Cooloola Waters, these costs are apportioned to each residence on an equal share basis by way of a charge known as the General Services Fee.
Maintenance Reserve Fund
Currently $TBC per calendar month. This fee is your contribution to the maintenance of your home and common facilities of the Village.
Departure (Deferred Management) Fee
Currently only a maximum of 25% of the resale price calculated after 3 years of continued occupancy. The outgoing resident pays the Departure Fee at the time of resale to the new resident. The amount payable is set out in the Public Information Document (PCD) current at the time the home was purchased by the new buyer(s).
The development of a retirement village involves considerable capital expenditure on common facilities, a cost that which is easily recoverable within the price structure of the homes. The Departure Fee meets these costs without involving a drain on the weekly income of in-situ residents and is off-set against the 100% capital gain received by the outgoing resident.