Title to Broadwater Gardens is by way of a Lifetime Lease (99 years), which is registered on the Certificate of Title of the Land.  The Operators of Broadwater Gardens have successfully developed and leased approximately 300 retirement village homes in this way. 

For the Riverside Apartments, Broadwater Gardens is offering residents two financial options to choose from.  These are:

Option 1:

You enter into a Lease on the apartment of your choice at the price referred to on the current price list.  When you leave the Village and your apartment is re-leased, there will be no deductions payable to the Operator from the re-leasing amount, ie., there is No Departure Fee  or Capital Gain sharing.  The Operator will charge a re-leasing fee of 2% of the sale price (plus GST) if the subsequent Lessee is introduced to your apartment by the Operator. 

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Option 2:

You enter into a Lease with a Departure Fee calculated at 2.5% per annum (for a maximum of 10 years) based on your ingoing contribution and  Capital Gain is shared on a 50/50 basis with the Operator.  The Entry Price shown on the current price list is reduced by $50,000.  The Operator will not charge a re-leasing fee for introducing a subsequent Lessee to your apartment.

The above financial information is only an example.  Prospective residents should ensure they seek independent legal advice regarding all financial aspects of the Broadwater Gardens Lease.