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Title Information

Snowy Mountains Title Information

Thredbo

Thredbo is in the heart of the Kosciuszko National Park. The National Parks and Wildlife Service administers the lease area on behalf of the State Government (Office of Heritage and Environment - OHE), the landlord. Kosciusko Thredbo P/L, KT, (a wholly owned subsidiary of  Event Hospitality and Entertainment Ltd), a publicly listed company on the ASX) is the head lessee. You, the individual property owner, are therefore a sublessee of KT. KT are your "local council", and provide all municipal services including water and sewage for an annual "bed license" payment or lease fee. Their responsibilities are clearly set out in the sub-lease document which also details important things like your responsibilities under the sub-lease. The sub-lease also outlines that properties within the national park should be made available for holiday tenancies for 26 weeks per annum. The 50 year option to 2057 was taken up by KT in 2007, and new 50 year sub-leases are now registered for all the individual properties in Thredbo (thus all properties have individual Lot and Deposited plan numbers). The other thing worth noting is the leasehold title is something different from a financier's point of view; you should speak to your lender about Thredbo to check their lending criteria. 

 

Perisher

In Perisher the set up is different to Thredbo as the majority of lessees deal directly with the NPWS. Lease negotiations with respect to the issue of extra beds under the NPWS Plan of Management, and the issue of new leases have been completed to those property owners who agreed to take up the OHE (NPWS) offer. A new lease offer was made to property owners in Perisher whereby new beds are available for the payment of a premium, as well as an extended lease to 2058. The basic advantages of having a new lease is the allowed flexibility of your physical bed arrangements, and of course having an option to re-new in 2028 thereby preserving the value of the property. The exceptions to the title arrangements outlined above are for apartment buildings whereby there is a similiar arrangement to the Thredbo leases, and individual owners have a sub-lease with the complex owner - for example, in Stables that is Stables Management who took over from Deanes in 2015 season, and in Heidis the sub-lease is with the group body corporate. Similarly, Perisher properties are not supposed to be lived in year round, as they should be made available for holiday tenancies.

 

Lake Crackenback and Alpine Way

Outside the Kosciuszko National Park, normal torrens and strata title applies. Specifically, in Lake Crackenback, the zoning is SP3 Tourism. This may have impact on financing your purchase, as the property is not zoned as residential.
In our experience we have found that dealing with experienced knowledgable solicitors is generally a more expedient way of dealing with conveyancing matters in the local area. We can help you with suggestions wherever you reside.

Phone: 02-6457-2144
Fax: 02-6457-2155
Email: info@fsre.com.au
Michelle Stynes
Phone: 0413 67 10 67
Email: michelle@fsre.com.au
Steve Forbes
Phone: 0407 22 44 21
Email: steve@fsre.com.au
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