FREQUENTLY ASKED QUESTIONS
| STYLE |
AMOUNT |
SIZE |
PRICE RANGE |
| 1 Bedroom |
18 |
132 to 225sqm |
$317,000 to $375,000 |
| 2 Bedroom |
15 |
202 to 260sqm |
$477,000 to $563,000 |
| 3 Bedroom |
8 |
268 to 381sqm |
$601,000 to $625,000 |
| Penthouse |
4 |
399 to 416sqm |
$984,000 to $1,076,000 |
|
- Only
45 apartments
- Largest apartments currently available
in Airlie Beach
- NE aspect
- Cluster development - most
only
have one common wall.
- Air-conditioning, fans, Bosch appliances, stone bench
tops.
- 3 metre ceilings – opening up
the apartment
- Views of Coral Sea and Whitsunday Islands
- Swimming
pool and spa
- Spread over 9 blocks of apartments as opposed
to 1 large building
- Professional 24/7 onsite management via Blue Chip,
a management rights specialist company with several
resorts in Queensland
Body Corp rates
$96 per week = $4,992 per annum
Rental returns These
are estimated returns, buyers should
use these as a guide only and do
their own research on expected
returns.
| Style |
Permanent Rental fully furnished |
Holiday rental |
| One bedroom |
$320-$350 per week* |
$195-$295 per night* |
| Two bedroom |
$400-$420 per week* |
$235-$350 per night* |
| Three bedroom |
$500-$550 per week* |
$360-$500 per night* |
|
*estimation, may vary
Furniture Packages
| One bedroom |
$27,450.00 including GST |
| Two bedroom |
$38,250.00 including GST |
| Three bedroom |
$45,475.00 including GST |
| Three bedroom + Lanai |
$48,450.00 including GST |
|
FREQUENTLY ASKED QUESTIONS
Q.
A. |
Where is Whitsunday Reflections located?
Whitsunday Reflections is situated in the coastal
tropical village of Airlie Beach, surrounded by
two national parks. The Great Barrier Reef Marine
Park encompasses the 74 Whitsunday Islands and
the Great Barrier Reef, the largest natural world
heritage area on earth. Then Conway National Park
offers 22,000 hectares of bushland - meaning the
region has a finite supply of product that can
be developed. Whitsunday Reflections is located
on Horizons Way and is nestled in the hillside
overlooking Airlie Beach, the Coral Sea and the
Whitsunday Islands. It is approx one minute drive
from the shops and bars in the heart of Airlie
Beach. |
Q.
A. |
How do I get to Airlie Beach?
Airlie Beach in the Whitsundays is serviced by two
airports, Hamilton Island and Whitsunday Coast
Airport (Proserpine). Hamilton Island is a 30 minute
direct ferry trip to/from Shute Harbour or a one
hour ferry trip to/from Abel Point Marina (this
ferry service will eventually operate out of the
Port of Airlie Marina). There are daily direct
daily flights from Cairns and Melbourne, and two
direct daily flights from Brisbane and Sydney.
The Whitsunday Coast Airport is located 30 km south
of Airlie Beach and offers up to 2 direct daily
flights from Brisbane, and 4 direct weekly flights
from Sydney. |
Q.
A. |
How many apartments & what configurations
are on offer in Whitsunday Reflections?
There are 45 apartments, comprising one, two and three
bedroom apartments as well as four penthouses – all
apartments have a Northerly aspect and spectacular
ocean views. |
Q.
A. |
Where is the swimming pool/spa?
The swimming pool is located in front of buildings
H and J, averaging 20 metres x 3.6 metres (internally)
and the plunge pool/spa is located in front of
building J and K. |
Q.
A. |
Does everyone apartment get a car park?
Yes, every apartment has either one or two allocated
car parks. |
Q.
A. |
Who is the developer of Whitsunday Reflections?
Balanced Securities of Melbourne are the financiers
and developers of Whitsunday Reflections. |
Q.
A. |
Who will manage Whitsunday Reflections?
Blue Chip Accommodation will look after the management
of the complex and will provide managers that will
live in the purpose built on-site manager’s
apartment. Blue Chip are experienced management
rights consultants and manage a number of other
quality resorts including Mango Lagoon at Palm
Cove, The Crest on the Gold Coast and Story Apartment
in Brisbane City. |
Q.
A. |
Who will maintain the complex?
The on-site Managers will be responsible under their
Caretaking Agreement with the Body Corporate to
manage and supervise the on-going maintenance of
the complex. |
Q.
A. |
How does the Body Corporate work?
Every owner of an apartment in Whitsunday Reflections
is automatically a member of the Body Corporate.
The Body Corporate is responsible for the decision
process for the operation of the development. To
assist a Body Corporate Manager is appointed (currently
PRD Whitsunday Body Corporate Management) to protect
interests, administer the Community Management
Scheme and liaise with any tradesmen or contractors
appointed. |
Q.
A. |
What are the charges for the Body Corporate?
The levies for the Body Corporate are comprised of
Administrative funds (day to day “running” of
the complex) and Sinking funds (a build-up of funds
to cover capital expenditure eg painting, swimming
pool equipment etc), the totals of which are approximately
$4,992 per annum. Your contract will contain more
detailed information. |
Q.
A. |
If I want to put my unit into holiday letting,
who do I talk to and how does it work?
While several of the apartments will be owner-occupied,
a special provision has been made for purchasers who
wish to holiday let theirs. The on-site manager will
optimise the apartment’s use to suit individual
needs. For a management fee they will advertise and
promote your apartment, arrange bookings, arrange for
cleaning, linen and maintenance and generally aim to
obtain the best possible return for your apartment. |
Q.
A. |
Are there any restrictions on living in the apartments?
There are no restrictions on living in your own apartment,
accepting of course that you are subject to the
same rules of reasonable behaviour and noise as
tenants. If you have placed your apartment in the
holiday let pool then you will be able to stay
in the apartment yourself 28 days per year and
appropriate notice will need to be given to the
management. |
Q.
A. |
How do I furnish my apartment?
Clive Burnup of the local firm, Burnups, together
with his interior designer, have put a furniture
package together which is available for sale. This
includes everything necessary for a holiday home
or holiday letting. Clive is experienced in supplying
furniture packages for a number of projects, both
on the mainland and Hamilton Island. The package
is purchased separately through Burnups and Clive
is available personally for consultation. |
Q.
A. |
Must I purchase the furniture package?
If you intend to enter the letting pool and have
your apartment managed by Blue Chip Accommodation
then you must purchase the furniture package. |
Q.
A. |
How much are the furniture packages?
One bedroom $27,450.00 including GST
Two bedroom $38,250.00 including GST
Three bedroom $45,475.00 including GST
Three bedroom penthouse $48,450.00 including GST |
Q.
A. |
Are pets allowed?
Each apartment is permitted to have one dog no greater
than 7kg, subject to body corporate approval. The
dog must be kept within the lot at all times and
when being conveyed across common property must be
on a leash. |
Q.
A. |
Do I have to insure my apartment?
The Body Corporate levies (Administrative Fund) covers
the insurance of the building and Public Liability
(to $10 million) within the grounds, however it
is imperative that you take out insurance on your
contents and you discuss liability cover within
your front door and possibly rental returns insurance
with your broker or insurance company. |
Q.
A. |
How much do I have to pay to secure my unit?
10% deposit is payable on signing the contract. |
Q.
A. |
Should I use a local solicitor?
Because there are a number of differences between property
purchase and hence conveyancing between the states,
it is advisable to appoint a local solicitor to act
for yourself. An interstate solicitor will need a
Queensland agent for settlement in any case. Overseas
clients should certainly appoint someone locally.
The vendor’s solicitor, Stuart Bell, will be
able to answer any legal queries from your solicitor. |
Q.
A. |
Do you know who I can talk to about financing a
purchase?
We can refer you to a local bank or finance broker
but cannot advise on finance. |
Q.
A. |
How much time do I have before signing the contract?
You have seven days from the date of receipt of the
contracts to sign them and have them returned or
the property will be passed onto the next purchaser
in line. |
Q.
A. |
When is settlement?
Although the construction of the resort is completed,
the developers have deferred settlement until the
onsite managers, Blue Chip, are established onsite
and the marketing of the resort is in full swing.
This will ensure healthy returns to you our valued
investor and we would anticipate this to be by the
end of September. Should you choose to settle earlier
(perhaps you wish to live in your apartment, for
example), this can be arranged. |
Q.
A. |
How does interest subsidy and rental guarantee
work?
The vast majority of people we encounter believe the
Whitsundays is a fantastic place to invest in real
estate particularly at today’s unprecedented
low prices. The question mark and perhaps the only
thing that is stopping them which we have now negated
is the state of the economy which leads to some risk
in the investment.
This risk has been completely taken away under
this offer. The Developer will guarantee for a period
of two years a 5% net income on the property. This
means that irrespective of the income received through
the on-site managers Blue Chip, together with the
associated costs such as cleaning, marketing, rates
and body corporate there will be a guaranteed minimum
5% return on your investment. This return could in
fact be higher should the resort receive higher occupancy
levels.
On the other side of the coin, the Developer will
guarantee your holding costs being your interest
expense to be a maximum of 5%. We have arranged a
finance package at 6.89% fixed and the Developer
will pay the difference between the 5% and the 6.89%
once again for a period of two years.
This means for a period of two years the investment
will be at worst cash flow neutral for you and in
fact may yield above 5% and there may well be tax
advantages for you resulting in refunds subject to
your own personal position. (We estimate that these
could be in the order of $7,000pa or an extra
$134pw in your pocket).
This two year period will enable the resort to get established and provide
evidence of a strong trading return. It will also take away any tourism interest
rate and cost uncertainty for you our valued investor. It does allow, however,
for you to invest at today’s unprecedented low prices.
To qualify for this offer your investment must
be placed back with the on-site managers Blue Chip
Investments. At the end of each month, Blue Chip
will provide to the Developer a copy of your income
and expenditure and any short fall to the 5% will
be made up within 7 days. Also, the additional interest
expense will be paid to you within 7 days of the
end of the month by the Developer. |
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