Who are Holiday Lifestyle Developments (Aust.) Pty Ltd?
Our skilled team of professionals have the knowledge to choose and purchase in the right locations whether it’s for a lifestyle by the sea or somewhere else we aim to deliver a great investment for future growth.
What is being offered?
Packaged house and land in prime beachside and beachfront locations for permanent living or holiday homes.
Investments are offered with a fixed 6% guaranteed net returns for up to 10 years.
Is the Land Subject to Land Tax and is GST inclusive?
GST is included in the price and the property is currently exempt of land tax as it is registered with local council as an accommodation provider.
What do I legally obtain when I purchase?
Your name is registered on title at the land titles office. You acquire the rights and benefits over the land equivalent to freehold ownership. You can on sell to anyone, at any time. No exit fees, no surprises.
Can I sell my property at any time?
Yes, your leasehold title is your property and you are able to sell it at any time, subject to complying with the Terms of your Lease in relation to Assignment. Remember it is a registered Leasehold Title. The remaining years on your Lease would then be transferred to the new owner. Your land will appreciate in line with other properties in the area. You can sell your Leasehold through any Real Estate Agent you choose.
Do banks lend on this type of property?
Yes – between 60 to 80% of the purchase price from various lending institutions or contact our office if you are having difficulty arranging finance, we are happy to refer you to a branch manager who is familiar with leasehold title.
What does my Annual Fee cover?
Allows for the following: Common property services, maintenance costs; rates and taxes; common property insurance; depreciation and amortisation; repair costs, refurbishment and/or replacement costs of existing works and facilities (including those of a capital nature); waste disposal; facilities and services; and new capital or non-capital works required by law, administration costs; wages, superannuation, work cover and other employment related costs of the managers and other employees or contractors.
No stamp duty is payable, if you are purchasing as your primary residence, as you are buying a registered leasehold title, GST is included in the price. Stamp Duty is payable on investments or holiday home purchases.
Australian Real Estate
The definition of real estate and a financier’s ability to take security over it. Real estate includes:
Any registered lease with a duration of over 21 years.
All land in Australia is registered under a system known as the Torrens system. Each State and Territory operates its own Torrens system (including its own register) for land located in its jurisdiction. Registration in the Torrens system creates title to the relevant parcel of land. Consequently, on a sale of Torrens title land it is registration of a transfer, that passes title to the purchaser. The main types of tenure are freehold estates (that is, freehold ownership) & leasehold estates. The relevant State or Territory register records details of the land and any registered interests in that land (for example, mortgages, leases and easements covenant).
An important and fundamental principle of the Torrens system is that the register is paramount, the purpose of which is to save persons from “going behind the register” to investigate the history and validity of the title to the interest in land. Accordingly, the registered proprietor of an estate of interest in land obtains what is known as an “indefeasible” title to its interest. This means title is not defeated by existing defects in title prior to registration or other unregistered interests. Importantly for financing transactions, the registered proprietor includes a mortgagee of freehold title and leasehold title.