Homestead Life

Wangaratta

Wangaratta is located in North East Victoria, approx. 250 km from Melbourne on the Hume Hwy. The Wangaratta township population is nearly 17,000 with Rural City population of approx. 25,000.

A thriving and progressive city being the gateway to the Gourmet Region of Victoria, it is the centre of a significant region with cities such as Benalla, Yarrawonga, Beechworth, Rutherglen and Albury/Wodonga all within a 45 minute drive and home of annual events such as The Wangaratta Jazz Festival and The North Eastern Victoria Winery Walkabout Weekend.

Wangaratta is serviced twice daily in both directions by the XPT fast train service, and other long distance bus & rail services.

The Homestead Life community is located approx. 2 km from the CBD and the significant medical & hospital precinct. A strip shop area and churches are within walking distance for seniors. Wangaratta boasts a good public transport bus network with access very close to the community. Department stores and food chain outlets are easily accessible.

It is believed that this senior’s independent living community is the best in the area, and the best value for money for occupants.

The Community

Centred by the historic Yarrunga Homestead “With elegant Victorian Period features, located on seven acres, the property has a unique, sought after "bush" setting vista within the heart of the Wangaratta Township. Circa 1900's, the Homestead provides a unique feature, along with other planned buildings and features of the property that will be optimised within the development.”

This unique investment opportunity offers property professionals, SMSF holders, and general investors a solid income producing investment.

Accommodation for mature and able-bodied senior citizens in the Rural City of Wangaratta and surrounding region is currently underprovided. Therefore, this development will assist in meeting an ever-increasing demand for secure and social environments for the elderly in the area, making this a solid, medium to long-term investment and supported by moderate but consistent capital growth.

- This development is in a city where approx 28% of the current population is 55yrs or older, and over 50% is 40yrs or older. These statistics are higher than the Victorian and Australian averages. Source ABS 2001 census

- There are a limited number of low cost rental accommodation communities available for seniors and aged pensioners in Australia. Similar senior communities are constantly fully occupied.

- There are over 8100 aged pensioners living in Wangaratta or within a 70 km radius. Source – Centrelink

Homestead Life Pty Ltd

This development specifically targets the needs of the ever increasing number of aged pensioners who have difficulty with maintenance and the cost of their own home, do not have their own home, or just want to live in a more social & secure environment.

From $119,950 for a single title unit or $233,450 for a duplex unit strata title in a major regional centre where the residential needs of seniors and mature aged citizens are currently under provided for.

A Cash flow Positive Property Investment Opportunity Homestead Life Pty Ltd are offering you these remarkable Senior Community units in a development that will be living at its best.

The development comprises eighty one, (81) strata titled residential and independent living units in two zones, one residential, and the other “village units” the latter type being on offer in this release.

As the units are strata titled, you can sell at any time using the same methods for selling any residential property. The strata community is enhanced by the existing and refurbished period “Yarrunga Homestead” which is the onsite Caretaker-Manager’s residence. The Manager’s are the direct owner of the homestead and thus a co member of the community body corporate. As an investor, you have the comfort of knowing your community unit is being managed by a fellow owner within the development who’s likely similar aspirations for capital value growth and maintenance of the community property and residences.

- The complex features onsite 24hr management, protecting your investment.

- Solid estimated tax depreciation contribute to being cash positive.

- Tenants are able bodied, and predominantly pensioners.

- All costs and disbursements are managed in trust and distributed by the onsite Manager, making this a low effort investment.

- Units are strata titled and can be on sold anytime, by any agent.

- All units are newly constructed making them sought after by prospective residents

- A quality furniture package is also available for single bedroom units offering options to prospective tenants.

Ensuring Great Community Living

The onsite Caretaker Manager engaged through the Body Corporate is responsible for the upkeep of the community & common property. Through rental and letting agreements, the onsite manager will administer and manage the rental properties, supplementing their income to ensure a viable operation that is maintained to high standards for unit owners and tenants.

The community Managers, John & Alison Raymond have moved back to Victoria following 3 years in Queensland after managing a large residential complex there. They are looking forward to their new home & roles. John & Alison both have warm, caring & understanding personalities. John is experienced in property management, as well as being a qualified workplace counsellor, & commercially experienced with the maintenance of large gardens. Alison has over 20 years experience working in large medical practices in co-ordination & receptionist roles. They have two grown up children living in Melbourne.

There will be a management representative onsite at all times – 24 hrs per day.

Rental Payments

Rental payments will be received to Trust by the Manager, directly from Centrelink or the resident’s financial institution and disbursed to the owner, the body corporate, and for services on a monthly basis.

Rental rates are based on approx 80% of the aged pension and 100% of the rental assistance scheme for one (1) bedroom village units, and approx 82% of the aged pension and 100% of the rental assistance scheme for the 1 one bedroom plus utility room village units. Monthly rental management fees using the onsite Manager are 7% of the gross rent, including services and body corporate fees, with the initial letting fee of 20% of one month’s rental per letting.

The Manager has specific responsibilities and commitments, which are contained and outlined in the relevant agreements which owners, are a party to. This method of operating retirement villages and similar residential communities is not new, and has been very successful for a number of years. By purchasing a duplex (two units on one title), the risk of no income is considerably reduced during the start up period of the community and as tenants move on later in your investments life. It is estimated that the average tenancy will be in excess of 10 years also contributing to this sensible and sound investment opportunity.

Regular rental increases are indexed to the aged pension, which historically increases on average, approximately 4% per year. A level greater than average CPI. This opportunity will strengthen your portfolio by assisting with growing your returns, which increase each year with some certainty, and by assisting with finance serviceability.

Your Tenants

You have the best, stable and long term tenants

The target tenant market for these units is aged pensioners who can also receive the government rental assistance scheme. These tenants tend not to move residence or relocate very often, if at all, so they are a generally a long term, stable source of rental income.

Wangaratta and the immediate region currently have a larger than average number of aged pensioners and citizens 55yrs or older. The number of suitable tenants in the region will only increase in the coming years due to the current demographics of the area.

The tenants live in a secure community with like residents, enjoying good facilities in a great location. This will assist to attract tenants. A significant marketing campaign is underway to further secure prospective rental tenants.

Tenant services

Include a significant common building in which meals are supplied to village unit residents, including recreational facilities, and a sundeck. A weekly linen service is also be provided, with personal services such as a duress call system, laundry facilities. A professional consulting suite and lifestyle areas are located in the common building.

Three meals per day and a weekly linen service will be provided to all village unit residents through the “services agreement”. Copies of all agreements will be annexed to the Contract of Sale.

The Games Room

Extensive common community facility, including dining area, commercial kitchen, library & recreational area, sundeck & BBQ area, common laundry & professional suite

Investors Note

This exceptional opportunity suits property investors looking for a medium to long term, cash flow positive investment. It may be best suited to investors who have access to equity in currently owned property, or who are prepared to inject cash into their investment purchase.

These units are not serviced apartments, and are fully independent living units with kitchen and laundry facilities. Units may be occupied by tenants or owner occupiers being 55yrs or older, as they are a part of a normal strata titled subdivision. As the units are strata titled, and investors own the title like any other property investment, and units can be sold at any time using normal residential real estate selling methods.

Train Bus Shopping Centre Local Shops

Homestead Life Pty Ltd

The Board of Homestead Life P/L consists of two Principle Directors, and two Executive Directors who have the necessary range of skills, qualifications & experience to deliver this remarkable Seniors Living Community. Obviously, a project such as this requires additional professionals and consultants to assist where required, including specialist experience in the field of seniors accommodation. Commitment to sound planning and governance were employed, with the community location and design selection based on strong economic foundations in consideration of the regional market and demographic.

Superior energy efficient design

The award winning local designer, NRG Systems whom specializes in energy efficient design were engaged to ensure the highest quality and efficiency is achieved. By creating a cost & energy efficient community, the ongoing running costs are minimized. The designer has focused on the efficient use of water, electricity, heating & cooling. The buildings easily conform to Victorian “five star” energy design requirements.