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606 THE BEACON, 34 LAKE ESPLANADE $550,000 + GST (IF ANY) E queenstown@colliers.com W colliers.co.nz/211630 T 03 441 0790

Otago Realty (NZ) Ltd, Licensed agent REAA 2008


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THE PERFECT POSITION FOR HOLIDAYS A literal stroll along the waterfront into the heart of Queenstown, the Beacon complex is popular with holidaymakers and residents for its idyllic location. This two bedroom unit offers a great investment, with a position in the management pool for returns and flexible options in the future. Stepping out to a gorgeous sunny courtyard, the elegant unit has a smartly tiled bathroom and deluxe kitchen complete with dish-drawer. • • • • •

Two bedroom apartment in Beacon complex Professional management services in place Mountain and courtyard outlooks Affordably priced for the current market Total apartment area of 87sqm comprises of 64sqm floor, 10sqm decking, 13sqm internal parking space

2 Bedroom

1 Bathroom

1 Living Area

1 Off-Street Park

64m2 Floor Area


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4

boundary indicative only


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EXECUTIVE SUMMARY ADDRESS

606 The Beacon, 34 Lake Esplanade, Queenstown

RATES

QLDC: $3,116.41 ORC: $102.31

CV

$406,000

BODY CORPORATE $3,510 per annum MANAGEMENT SUMMARY RETURN ON INVESTMENT

In management lease with guaranteed returns until 1/11/19, flexible options after expiry 4.87% net return

FLOOR AREA

Total 87m² more or less, comprised of: 64m² floor, 10m² balcony, 13m² internal parking space

BUILT

2002

EXTERIOR

Concrete tilt slab

FLOOR COVERINGS

Carpet, Tiling

WINDOWS

Aluminium joinery, Double glazing

HEATING

Electric

GENERAL FEATURES

Indoor/outdoor living

FURNITURE

Fully furnished

ASPECT

South, East

LAUNDRY

Separate

VIEWS

Town, Mountain

PARKING

1x Off-Street Park


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OTHER INFORMATION The following information is also available for this property - contact us for your copy. • • • • • •

Full Pre Contract Disclosure Statement Full title Last 12 months financial performance Body Corporate rules AGM minutes Chattels list


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9


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Information about the Unit Number Legal 603 (Emma Windle and James Wilson ) 4

The amount of the contribution levied by the body corporate under section 121 of the Unit Titles Act 2010 in respect of the unit is $ 3510.00

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The period covered by the contribution in paragraph 4 is 1st January 2018 -31st December 2018

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The body corporate proposes to levy $3510.00 under section 121 of the Act in the next 12 months as an annual levy. See para. 7 for further information

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There are ongoing issues around Fire Protection and the building currently has no Warrant of Fitness. The committee is working on these issues and owners were initially informed by email on 15th July 2017. Work is currently being carried out on these issues in order for the building to be compliant for a Building WOF. There has been an extra levy for this work. This has been paid by the seller. The final costs for this work are not known and there could be an additional levy requested. At a meeting today, it was suggested that an additional $320,000 could be levied. The share to this unit would be 780/100,000. It must be emphasised that this figure is not final and must be taken as an indication only. This disclosure is being made under urgency at the request of the purchaser and they must acknowledge that this may not be a final figure. It can be noted that the remedial work is almost finished.

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The body corporate proposes to carry out the following maintenance on the unit title development in the next 12 months: A long Term Maintenance Plan has been prepared by Forbs Ltd. and a copy is attached. This was updated in April 2017. There are further issues with Fire Protection currently being carried out.

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The body corporate has the following account: a) Westpac Term Deposit 03 0675 0530499-01 $267,210.13 CR b ) Westpac Current Account 03 0675 030499-00 $29,182.14 CR As at 31 August 2018

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Under section 148 of the Unit Titles Act 2010, a buyer may request some, but not all of the information required to be in an additional disclosure statement before the settlement of an agreement for sale and purchase of a unit. The buyer must pay to the seller all reasonable costs incurred by the seller in providing the additional disclosure statement. The estimated cost of providing a full additional disclosure statement is $400.00

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The unit or the common property is not currently, and has never been, the subject of a claim under the Weathertight Homes Resolution Services Act 2006 or any other civil proceedings relating to water penetration of the buildings in the unit title development.

Date: 21 September 2018 Signed: Martin Chappell, Director For Associated Business Advisors S.I. Ltd Body Corporate Secretary, The Beacon Body Corporate 5


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RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 UNIT TITLE Search Copy

Identifier 120301 Land Registration District Otago 01 November 2004 Date Issued Prior References 129868

Supplementary Record Sheet 127986

Stratum in Freehold Estate Legal Description Unit 603 and Accessory Unit 603A Deposited Plan 329440 Registered Owners James William Rangi Wilson and Emma Marie Windle The above estates are subject to the reservations, restrictions, encumbrances, liens and interests noted below and on the relevant unit plan and supplementary record sheet 10162173.3 Mortgage to ANZ Bank New Zealand Limited - 2.9.2015 at 8:41 am

Transaction Id Client Reference

56026950 csvendsen001

Search Copy Dated 7/01/19 12:55 pm, Page 1 of 3 Register Only


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Return on Apartments All amounts exclusive of GST

Revenue

Lease FF&E

Less: Rates

ORC QLDC Body Corporate (Net of discount) Net Return Asking Price Less FF&E balance (as at 31 Aug 18) Net investment Net Percentage Return

Unit 603 (606 on door) 30,000 2,500 32,500 88.97 2,709.92 3,159 26,542.11 550,000 5,415.05 544,584.95 4.87%


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QUEENSTOWN RESIDENTIAL SALES TEAM FRED BRAMWELL 021 435 694 fred.bramwell@colliers.com

STEPHEN HEBBEND 021 453 881 stephen.hebbend@colliers.com

BRENDAN QUILL 021 416 785 brendan.quill@colliers.com

JAMES O’HAGAN 021 909 323 james.ohagan@colliers.com

RICHIE HEAP 021 500 815 richie.heap@colliers.com

GRAEME JACKSON 021 667 067 graeme.jackson@colliers.com

SOPHIE JAMES 027 463 5361 sophie.james@colliers.com

MARIA WYNDHAM 021 997 522 maria.wyndham@colliers.com

EMMA LUPS 027 428 5100 emma.lups@colliers.com

NICOLE BELL 021 898 326 nicole.bell@colliers.com

JANNETTE HIGHSTED 021 608 613 jannette.highsted@colliers.com

ROWAN MCDONALD 021 222 6314 rowan.mcdonald@colliers.com

JESSE JOHNSTON 027 733 7755 jesse.johnston@colliers.com

SCOTT COLLINS 027 478 4661 scott.collins@colliers.com

HUGH CLARK 027 223 2997 hugh.clark@colliers.com

STEVE LINDSAY 021 454 417 steve.lindsay@colliers.com

KATH CRUICKSHANK 027 436 8531 kath.cruickshank@colliers.com

GLEN ROLLE 027 534 7382 glen.rolle@colliers.com

FRASER LUSCOMBE 0274 247 859 fraser.luscombe@colliers.com


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COLLIERS INTERNATIONAL OTAGO Colliers International Otago’s residential sales team provide leading property sales and marketing services with an established track record and unrivalled teamwork. We think global and act local, with strong regional knowledge and connections across all property sectors. Our residential team is focused on adding value to our clients’ investment decisions. We are market leaders in research, allowing a unique, knowledge-based approach to buying and selling. As the largest multi-service real estate professionals in Otago and Southland, we have specialists working in residential property, commercial sales and leasing, tourism brokerage, valuation and advisory. With offices in Queenstown, Wanaka and Dunedin, we can cater for your specific real estate requirements - strengthened by our national & international Colliers network.

WAIVER OF LIABILITY The information contained herein or otherwise in relation hereto is provided by Colliers International and affiliated companies in their best judgement, in good faith and as far as possible based on data or sources which are believed to be reliable. The material contained herein is not intended to substitute for obtaining individual advice from a qualified professional person. Colliers International, its officers, employees and agents expressly disclaim any liability and responsibility to any person whether a reader of this publication or not in respect of anything and of the consequences of anything done or omitted to be done by any such person in reliance whether wholly or partially upon the whole or any part of the contents of this publication. Therefore we record Colliers International has used its best endeavours to ensure the information provided is true and accurate but Colliers International does not accept any responsibility or liability in respect of any errors, inaccuracies or misstatements which may be contained in them. COPYRIGHT Colliers International. All rights reserved. No part of this work may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying, recording, recording taping, or information retrieval systems) without the written permission of Colliers International.


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ANTI-MONEY LAUNDERING Proving your identity when buying or selling a house

!

From 1 January 2019, real estate agents are required to verify the identity of their vendors in accordance with Anti-Money Laundering legislation. In some situations, real estate agents will also be required to verify the identity of purchasers. If your real estate agent cannot verify your identity in line with the legislation, they will not be able to act for you. Identity verification can take days and sometimes weeks if a Trust or company is involved, or where parties reside overseas.

The below gives an indication of some of the documents your real estate agent may ask you to present in person or as a certified document as part of this process: Individuals: Passport, NZ Firearms Licence or NZ Drivers Licence with another document such as a bank statement or statement issued by a Government agency. You will also need to provide a document with your residential address (for example, a utility bill).

Trusts: The Trust Deed and, for all trustees and settlors, the information required for individuals as noted above, together with information regarding the Trust’s source of funds or wealth. Additional information may also be required for beneficiaries and appointers.

Companies: Details of the company, together with the information for individuals noted above for every individual with more than a 25% shareholding, all individuals with effective control of the company and all individuals acting on behalf of the company. Information regarding source of funds or wealth may also be required.

Note: The above list is not exhaustive and is indicative only. Your real estate agent will assist you with the specific requirements in relation to your situation. DISCLAIMER: The material and information contained herein is for general information purposes only and is not intended to form professional legal advice. REINZ does not accept liability for any claim or other action that may arise directly or indirectly from the use of or reliance on the material and information provided herein. REINZ recommends you seek independent legal advice if you are unsure of your legal position.


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KNOWLEDGE IS POWER Get in touch today for a copy of our 2018-19 Queenstown Market Report

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Otago Realty (NZ) Ltd, Licensed agent REAA 2008

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606 The Beacon ebook