Cooloola Waters Retirement Resort is situated in the heart of Tin Can Bay across the road from the foreshore and bay that are replete with picnic areas, walking trail, bird watching walk and boat ramp. It is only a short walk to the shopping centre.
About Cooloola Waters Retirement Resort
Your choice of title Title to the land on which Cooloola Waters stands is freehold. Homes in Stage 1 are purchased by way of a 99-year Lease registered in your name with the Queensland Department of Natural Resources and Water. Homes in Stage 2 have individual freehold titles as part of a community titles scheme, which is governed by a Body Corporate. Your title whether leasehold or freehold is protected by a statutory Government charge over the retirement village. Capital Gain You are entitled to 100% of any capital gain. Community Facilities The Resort’s community facilities consist of a large clubhouse with a well-stocked library, pool table, auditorium, indoor bowls, lounge area, commercial kitchen, manager’s office, exercise area, computer room and dance floor plus a heated indoor pool, outdoor pool and spa with entertainment area, large work shed/craft area, and croquet lawn. Apart from that, the Resort has well-established gardens with attractive landscaping. This Resort is one of the first Greenstreet style developments in Queensland. This style of development maximises security, privacy with optimum use of the Common Areas and Common Facilities helping to provide an attractive lifestyle for retirees. Maintenance Village management carries out maintenance of the Common Facilities, Common Areas, Resident’s lawns and gardens and the exterior of resident’s homes. Please refer to the current Public Information Document for the Resort for more specific details. The cost of performing the maintenance is covered by the general service fee and body corporate fees (for freehold homes). Fees
- Entry Fee This fee is paid by the buyer when a home is purchased and is 2 ½% of the purchase price. This fee is paid to the Capital Replacement Fund for the Resort and covers costs of major repairs and replacement of any part of the Common Facilities. The entry fee is included in the advertised purchase price.
- Exit Fee The seller pays the Exit Fee at the time of resale of the home. The amount payable is set out in the Public Information Document current at the time the home was purchased by the seller. The development of a Retirement Village involves considerable capital expenditure on common facilities, a cost that is not recoverable within the price structure of the homes. The Exit Fee, therefore, meets these costs without involving a drain on the weekly income of residents.
- General Service Charge As is the case in all retirement villages, residents contribute to the overall costs of maintaining and operating the Resort. 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.
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