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The Courier-Mail - Home - - LAND LEASE EXPLAINED - BELINDA CHILTON

Re­tirees who are as­set rich but cash poor can now have their cake and eat it too by tak­ing ad­van­tage of the “land lease” model.

Land lease means you buy a new home but don’t own the land, so there are no en­try or exit fees, no stamp duty, rates or body cor­po­rate fees, just a small fort­nightly land lease fee, and the home own­ers get to keep 100 per cent of the cap­i­tal gain when they sell.

Ori­anna Life­style Re­sort at Sand­stone Point in Bri­bie Is­land is one of the re­tire­ment com­mu­ni­ties of­fer­ing land lease, which is well es­tab­lished in south­ern states.

Gen­eral man­ager Brett Robinson said the Ori­anna model was an ex­cit­ing so­lu­tion for many re­tirees around Aus­tralia, who were as­set rich and cash poor and needed to free up money to live on af­ter sell­ing the fam­ily home.

“It is a very real dilemma that many re­tirees find them­selves in,” he said. “They need to re­tain some cash from the sale of the fam­ily home but they don’t want to down­size on their qual­ity of life or stan­dard of liv­ing. Ori­anna’s land lease model is the so­lu­tion. It is a high­qual­ity con­tem­po­rary home, with high-qual­ity ameni­ties with­out the high-cost out­lays.”

The first life­style re­sort is un­der con­struc­tion at Sand­stone Point, with 122 homes. Com­mu­nity ameni­ties in­clude a recre­ation cen­tre, bowl­ing greens, a pool and com­mu­nal boat to en­joy Bri­bie Pas­sage.

Ori­anna Life­style Re­sorts have two and three-bed­room homes for peo­ple over 50 with prices from $375,000 to $475,000.

New home de­signs have re­cently been re­leased fea­tur­ing dou­ble lock-up garages.

“We un­der­stand clients may be down­siz­ing from their four-bed­room fam­ily home on 800sq m, but not from life,” Mr Robinson said.

“They still have hob­bies, a sec­ond car or even a mo­tor­bike and want the op­tion of a dou­ble garage. We are re­ally try­ing to em­brace the small-town feel of a peace­ful, coastal com­mu­nity while still pro­vid­ing the ameni­ties and con­ve­nience of city liv­ing.”

Ori­anna Life­style Re­sort at Sand­stone Point in Bri­bie Is­land in­cor­po­rates ameni­ties in­clud­ing a recre­ation cen­tre, bowl­ing greens and a com­mu­nal boat.

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