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Why buy a serviced apartment in Wanaka Lake Resort? The Tourism Research Council growth projections indicate that overnight visitor growth to Wanaka will increase by 30.1% to 2010. Signifi cantly most of this growth will be from international visitors, with these visitors demanding a better class of accommodation often delivered by newer developments. Wanaka Lake Resort is a quality development with excellent returns underpinned by a character restaurant and conference facilities. As significant developers of serviced apartments in Wanaka and throughout other parts of New Zealand. The operator, Tourismflair, aims to offer purchasers the option of a good income-generating holiday home that will show strong future capital growth and returns to investors. Purchasing a serviced apartment in Wanaka Lake Resort is an investment in tourism. Refer Bayley Valuations Report for Tourism and Income Projections, available on request. Return to investors Tourismflair have advised Wanaka Lake Resort serviced apartments shows good returns to investor Please Click here to download a report prepared by the Resort Manager, Tourismflair. Management Onsite management is by hotel operator Tourismflair. With serviced apartments and lodge complexes in various parts of New Zealand, Tourismflair is creating a specialist network of resort-based accommodation. Focus is on delivering returns to investors through the benefits of a national chain that in turn reflect in higher occupancy/yields and cost saving advantages. What facilities are included in Wanaka Lake Resort? The Resort has been designed with a strong emphasis on creating a relaxed family environment. Facilities include saunas, feature spa pool, gymnasium, ski drying room and heated swimming pool. Many apartments have feature fireplaces, with a number having outdoor fires and spa pools. How long will it take to build Wanaka Lake Resort? It is anticipated that construction would be approximately 12 - 15 months from commencement. Can I live in my apartment? Not on a long-term basis. However the apartment can be used as holiday accommodation as long as your stay does not exceed 3 months in any duration. The cost to you is 15% of the nightly rack rate applicable at the time, plus some cleaning costs, utility costs and any ancillary service costs (phone etc.) if applicable. The exact details are covered in clause 4 of the 'Deed of Lease Serviced Apartment'. This arrangement ensures that you are able to stay in your apartment for longer durations and at any time of the year with minimal notice to the manager. Is there good storage available for each apartment? Yes, either internal or external lockable storage lockers are included in the purchase of each apartment. Where can I store my boat? If you own a boat there would not be room to park your boat within the complex. However Boat Storage Wanaka (phone 0274 507 964) are a private storage facility with services that include servicing, cleaning, fuelling, charging and launching if required. They also store caravans. This service would be a cost to the apartment owner. Goods & Services Tax The price in the agreement is exclusive of GST. Because the apartment will be a going concern at the time of settlement, your apartment will be zero rated as long as you comply with the conditions of the management agreement. No GST should therefore be payable. You will need to register for GST to qualify for zero rating. How much are my rates? These have been estimated at between $2,594 and $3,355 incl. GST per apartment per annum, depending on unit entitlement. This has been prepared by Bayley Valuations Ltd in liaison with Queenstown Lakes District Council, and will be confi rmed once construction is completed. There is provision for remission if the apartments are managed for more than 5 years. |
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How much are the body corporate fees? Body corporate fees are approximately $4,600 incl. GST per apartment per annum, depending on unit entitlement. This is commensurate with other serviced apartment complexes of this size. The body corporate fee includes insurance cover on the building and contents cover including the furniture and fittings package. During construction a construction insurance policy covers the building. The body corporate fee also includes pool, gym, spa, sauna and ground maintenance, common area electricity, pool heating and Sky Digital TV. A forecast budget is available on request. Can my apartment be left out of the leasing pool and not rented? No. Each purchaser as part of the purchase process signs a management contract and the apartment will go into the leasing pool. Is income split evenly between owners or on the basis of income generated from my unit? Income is apportioned on the basis of income that is generated from each individual apartment, not pooled, as are costs that can easily be allocated. How do I know that my apartment is getting fair use and therefore income? Clause 9 of the 'Deed of Lease Serviced Apartment' states that the Building Manager will let the units '…on a fair and reasonable basis'. What is the purchasing procedure? A $5,000 deposit will secure an apartment. A total of 10% deposit is to be paid within 14 days of signing the sale and purchase agreement. The balance is to be paid once the title has been issued on the apartment. A process of raising a deposit through a home bond or deposit bond is also available, and allows for a deposit to be paid on your behalf by NZ Home Bonds with fees shared between yourself and the developer. Using a home bond your initial deposit is $3,000. Refer to your real estate agent for details. Do I need to purchase furniture? Yes - Wanaka Lake Resort Serviced Apartments must be furnished to exacting standards. The package complies with hospitality standards for wear and durability, and meets the expectations of the market. Your furniture package is generous and includes such additional items as:
What about interior design? Our interior designer has created a classic sophisticated alpine theme which co-ordinates architectural design with furniture, floor coverings, bathroom and kitchen designs, all of which is very much in keeping with the Wanaka environment. What are Wanaka Lake Resort apartments built from? Quality building materials including concrete construction between apartments and concrete mid-floors between apartments and within apartments. This ensures that the apartments meet and exceed the requirements for soundproofing. In addition tiles are laid over an acoustic system. Cladding is a combination of feature schist, vertical and horizontal weatherboard accentuated by timber window features and pergolas. |
DISCLAIMER Please note that this is a preliminary brochure prior to the construction of the project. Changes that may occur during construction and all details and figures should be checked carefully before construction proceeds. While every effort is made to ensure the information is true and correct, no responsibility will be taken for errors and omissions. We reserve the right to make changes based on the requirements of the territorial authorities or in response to product availability. This publication is for guidance and does not constitute an offer or contract.