Lodge 45 Couran Cove Resort, South Stradbroke

This is Couran Cove Resort LODGE 44 - Couran Cove Resort Currently, Body Corporate Fees have been reduced to the following weekly fees: Lodges - Approx $140 per week The current Body Corporate Fees look after the following expenses * Sewerage Management and Transportation. • Administration fees - Pinnacle Strata • Island Insurance fees • Small Sinking fund We can organise an inspection on the island when suits. INFRASTRUCTURE Please Note : Currently all power, water and gas has been disconnected on Couran Cove Resort and the resort is currently closed. Following are the Main Points that the Body Corporates are currently working on. • Current Infrastructure - Sewerage Plant/Water Plant/Diesel Plant * Alternative Off Grid Solutions - eg Solar, Battery, Spear pump, Etc • Marina - To be opened to all watercrafts. • Swimming pools to be cleaned / open and maintained. • Sewerage - BC are investigating a cost-effective solution regarding the sewerage. * Proposed Judgements/Special Levies - Currently the Body Corporates are challenging these Judgements and special levies in the courts. OFFGRID Currently numerous owners have been setting up their properties on the island off grid. Installing the following. Approximate Cost - Between - $30k - $35k * Solar Panels and 10kw Battery * Backup Generator * Spear Pump and Water Filter * Water Storage Tanks * Gas bottles LEGAL DISPUTES There are still several ongoing legal disputes between the resort owners and the numerous Body Corporates. The Body Corporates (Owners of properties on the Island) are in the full control and are slowly but surely sorting out the situation. Litigation and/or meetings of the Body Corporate(s) could result in the issuance of notices requiring the owner of the Lot after to pay special levies or other levies. MAIN POINTS FOR PROPERTY CONTRACTS on Couran Cove. Please see following special conditions that will be in all Couran Cove property contracts. 1. The Buyer confirms that prior to executing this Contract, it has made its own enquiries in relation to the Body Corporate(s) pertaining to the Lot and is aware of the pending court proceedings in relation to the Body Corporate(s), meetings held by the Body Corporate(s), ongoing litigation, and the current status of same. 2. The Buyer is aware that it is possible that such litigation and/or meetings of the Body Corporate(s) could result in the issuance of notices after the Contract date requiring the owner of the Lot to pay special levies or other levies ("Post Contract Levies"). 3. The Buyer and Seller agree that the Seller is liable for all payment of all Body Corporate Levies (including those that are not issued yet) for any period up to and including settlement date and that an adjustment will be made in the settlement statement in this regard as per clause 2.6(2) of the terms of contract. 4. The Buyer indemnifies the Seller and Agent and will keep the Seller and Agent indemnified against any and all liability arising after the settlement. 5. The Buyer waives the cooling off period. 6. The property is Sold "Where is, as is" 7. 10% Deposit with a 14 Day Settlement. FINANCE Unfortunately, No Banks or financial institutions are currently lending on the island. (Only if a mainland property is given as security) Negatives • Currently the resort is closed (Included all swimming pools) • ALL SERVICES - Power/Water/Gas and Sewerage have been cut off. • There is no time frame set for when services would be restored. • Currently the Marina has been blocked, (boats can enter through Z Arm or side of A Arm). * Currently there are no Ferrys that service the island. Positives • BC Fees have been reduced. • Owners have taken control of ALL 5 Body Corporates (Eco, Marine, Lagoon, Villas and the CBC) • A bout 40 properties on the island have set up their property off grid. ie. Generator, spear pump, water filtration system and Solar etc. • Once the Infrastructure is back on property prices will increase. • There has never been a better time {price wise) to buy a property in Couran Cove. * Proposed Special Levies and Judgements are being challenged by the Body Corporates in the supreme court. Please contact Couran Cove Specialist - Critton Astras on 0412 074447 for more information. Disclaimer: The above information has not been verified. We advise you to confirm the accuracy of details before entering a contract. Astras and Bond Estate Agents and its employees cannot be held responsible for any inaccurate details supplied here. Buyer/s must do their own due diligence regarding infrastructure, drawings, floor plans, council approval, boundary lines on photos and measurements etc. these have not been verified by Astras and Bond Estate Agents. Please call Critton on 0412 074447 for more information Property specifics: • Air Conditioning • Full kitchen featuring gas cooktop, convection microwave, and granite benchtops • Appliances & television • WIFI available • Ceiling Fans Resort features (WHEN OPEN) • 25m heated lap pool • Children's pool • Running tracks • Half-court basketball • Cycling (fees may apply) • Kayaking • Tennis Disclaimer. You are advised that you should conduct your own due diligence and not rely on this information, including but not limited to, the property area, floor size, price, address and general property description on the Website. The information has been provided to us by third parties and is published as a convenience to you. Astras and Bond Estate Agents accept no liability whatsoever in connection with the information published. Assigned Office Head Office Web Enquiries Critton Astras: Phone:0412074447, Email:crittonastras@bigpond.com