This unit must be owner occupied and has a "Licence to Occupy" agreement in place with the Home Park owners. Please see answers to FAQs below*
Be part of a great community with the residents of 52 Northcote Road Motor Park and be part of a great ownership alternative. On offer here is 4 brand new lock and leave style units. They have all been built to a high level, ready for the new owners to move on in. Located in a quiet, safe and comfortable environment.. This is really a fantastic place to call home. Each unit offers 2 bedrooms, 1 bathroom, an open plan kitchen/living, and an outdoor area for alfresco entertaining. Each home is filled with light and are open and airy. Handily located to all local amenities, including public transport and Northcote Centre for all your shopping, beauty and grocery needs.
*What is a licence to occupy (LTO)?: A LTO is a personal agreement between the licensor (owner of the freehold land at 52 Northcote Road) and the occupier (the licensee), whereby the licensor permits the licensee exclusive occupation of the premises for a period of time, in the case of 52 Northcote road this period is 20 years (more or less). There is also an ongoing weekly site fee of $175.00 inclusive of GST plus a standing charge for rates and water rates (currently $37.86/week) plus consumables (electricity/water)
What do will I get for the $375k? - You will get ownership of the newly built relocatable unit with all chattels and fixtures included. You can shift this off site if you wanted (relocatable) but generally if owners wish to move they sell the unit to a new buyer who will enter a new license to occupy with the home park owners.
Can I borrow money on the property to buy the Unit?: As the site license/license to occupy doesn't provide any separate interest in the land you will not be able to borrow against the land (ie you won't be able to raise a mortgage loan for the purchase).
For more information please contact us.
Property ID PON26280
Close To Schools, Close To Shops, Close To Transport
* While every effort has been made to ensure the information displayed is accurate, please check details directly with the school before making decisions based on this information.