Landcruiser Mountain Park Sold

[rags]

 Reading the web page a simple summary is
1 if you buy a 196m2 plot on a 15 year lease the cost is $3500 plus gst ($3850)
A maintenance level of $150 per ever 3months
The deposit of $425 is non refundable
Balance payed in full by end of March 2016
Payment plan in instalment available of 2 instalments over 6 months

Of concern is the deposit is payed by the web site BUT there is no contract or condition of sale available which is of concern and something that Fair Trading should be interested in.A payment plan would constitute a financial banking issue with a financial licence required but non quoted.

Also of concern would be the claim of exclusive rights for the purchaser with no other public access.
But any Crofter can bring in guests with a fee attached to the entry payable to the company who controls the site.
Also reading the web page the owners intend to build an exclusive  Bush Lagoon Reserve that is available to Crofters use. The idea that the site will only be exclusive to the Crofters seems a little loose as with the Bush Lagoon area the web page says that there will be an area established for "Music events and festivals" and they "intent to apply to Somerset Regional Council for approval to build a old style country pub and restaurant". Now to me this says a pub needs more than Crofters visiting it to make it financially viable so the public would be encouraged to visit. The term music festivals also says to me the public invited again, maybe similar to "A day on the green" type events.
I guess like every purchase it is "Buyer Beware"

[jetcrew]

Reading the web page a simple summary is
1 if you buy a 196m2 plot on a 15 year lease the cost is $3500 plus gst ($3850)
A maintenance level of $150 per ever 3months
The deposit of $425 is non refundable
Balance payed in full by end of March 2016
Payment plan in instalment available of 2 instalments over 6 months

Of concern is the deposit is payed by the web site BUT there is no contract or condition of sale available which is of concern and something that Fair Trading should be interested in.A payment plan would constitute a financial banking issue with a financial licence required but non quoted.

Also of concern would be the claim of exclusive rights for the purchaser with no other public access.
But any Crofter can bring in guests with a fee attached to the entry payable to the company who controls the site.
Also reading the web page the owners intend to build an exclusive  Bush Lagoon Reserve that is available to Crofters use. The idea that the site will only be exclusive to the Crofters seems a little loose as with the Bush Lagoon area the web page says that there will be an area established for "Music events and festivals" and they "intent to apply to Somerset Regional Council for approval to build a old style country pub and restaurant". Now to me this says a pub needs more than Crofters visiting it to make it financially viable so the public would be encouraged to visit. The term music festivals also says to me the public invited again, maybe similar to "A day on the green" type events.
I guess like every purchase it is "Buyer Beware"

good points there Rags

as the saying goes ..If sounds too good .....

[Foo]

196m2 That's only big enough for a car park? 

Foo

[rags]

196m2 That's only big enough for a car park? 

Foo

About 14m x 14m or about the size of a block these days in western Sydney, or 18m2 smaller than my shed/workshop

[Fizzie]

Been reading their site & it doesn't actually sound too bad?

Perpetual licence at ~$12000 for virtually a 1/4 acre block + $180 / quarter for "rates" is actually pretty cheap - they say it can't be your principal residence so I guess that must make it an investment property?, so everything is then claimable as a tax deduction?

See that there's a  a couple of mentions of "100 years" & that your descendants could still be doing this or that on the block. Would be interesting to see what really does happen in 100 years time when this area is an outer suburb of Brisbane / Sunshine Coast - will it still be 10000 acres of untouched bushland?

So how about some nice helpful Swagger jumping in & signing up for a block, then letting us know about how it all works? 

[rags]

Been reading their site & it doesn't actually sound too bad?

Perpetual licence at ~$12000 for virtually a 1/4 acre block + $180 / quarter for "rates" is actually pretty cheap - they say it can't be your principal residence so I guess that must make it an investment property?, so everything is then claimable as a tax deduction?

See that there's a  a couple of mentions of "100 years" & that your descendants could still be doing this or that on the block. Would be interesting to see what really does happen in 100 years time when this area is an outer suburb of Brisbane / Sunshine Coast - will it still be 10000 acres of untouched bushland?

So how about some nice helpful Swagger jumping in & signing up for a block, then letting us know about how it all works? 

Also says you can't build any thing more than a tent or a garden shed.

[Shaun99]

It sounds dodgy, a means to raise money to pay off the loan for the purchase of the property.

Overtime people will loose interest or not want to continue paying the quarterly fee.

Potential or subsequent buyers (lease holders because at the end of the day the money does not buy you title to any land) will be in short supply.

Eventually the crofters will fade away, the owners will be happy with that result.

[rossm]

It sounds dodgy, a means to raise money to pay off the loan for the purchase of the property.

That's what I was thinking.

[Foo]

^^^ Yep I said that on another forum!  ^^^

Foo

[KingBilly]

Been reading their site & it doesn't actually sound too bad?

Perpetual licence at ~$12000 for virtually a 1/4 acre block + $180 / quarter for "rates" is actually pretty cheap - they say it can't be your principal residence so I guess that must make it an investment property?, so everything is then claimable as a tax deduction?

See that there's a  a couple of mentions of "100 years" & that your descendants could still be doing this or that on the block. Would be interesting to see what really does happen in 100 years time when this area is an outer suburb of Brisbane / Sunshine Coast - will it still be 10000 acres of untouched bushland?

So how about some nice helpful Swagger jumping in & signing up for a block, then letting us know about how it all works? 

Doesn't investment mean earning an income?

And it will never be an outer suburb of anything 

KB

[gnomeo]

Scam ... pure and simple!

[Bird]

It sounds dodgy

x4

[Fizzie]

Anybody ever hear anything further re this set-up?

Just went to look at their website & it's

"currently being updated with exciting new content and offers.

Come back soon to see the benefits for yourself."

[KingBilly]

Read that the new owners are thinking about opening up a part of the park to day visitors like it was under the previous owners.  Apparently sales are slow.

KB

[Rumpig]

Apparently sales are slow.

KB

no surprise there...the concept may work in countries with limited locations to go camping at, but why would you pay all that money to lock yourself into camping in that one location all the time in a country like ours that has so many other options to go to?

[DaveR]

I noticed that the signs for LCMP are still on the hwy heading into Kilcoy.

[BaseCamp]

I noticed that the signs for LCMP are still on the hwy heading into Kilcoy.

So are the faded brown tourist signs for the Big Pineapple. .. ..   


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[oldmate]

no surprise there...the concept may work in countries with limited locations to go camping at, but why would you pay all that money to lock yourself into camping in that one location all the time in a country like ours that has so many other options to go to?

yep.. 

[dooguss]

Currently on Facebook there is a page called "rent my croft" where some owners have put there plot up for rent, i read that  they were charging about $50 per vehicle.

[Nomad]

Interesting concept.

Its a different setup to any of the hippy style villages I have ever had to deal with in the Sunshine Coast Hinterland, most of those are either titled or work on a land lease set up.

The Croft operates under a standard licence agreement, I have read enough of it to determine that it is a fairly stock standard document, i.e all the rights remain with the licensor.

It appears though that the owners are trying to sell long term crofts whilst still allowing weekend campers to utlise the park as a typical weekend camp site, although the current website and marketing material doesn't reflect this the licence agreement certainly does, so I think that in due course, once a decent number of crofts have been sold you will see the park change back to a more traditional style facility. I would have to research the development approval that is in place to get an indication of the total allowable numbers, however I dare say that the local authority would be fairly flexible in allowing an increase in numbers based on amenities etc.

Overall I think that the concept is fairly well executed but..............why would I want to camp behind a fence on a 196sqm, 434sqm or 961sqm.............

I do have doubts as to the financial viability of the project however, as I think the concept probably works well in Scotland were people want access to their own piece of country, I think with the availability of alternative camp options in Australia will prove to much for them to overcome.

Both of the companies that own the property were only registered in 2015 so it appears that the only asset held by them would be the property, so in the event of the property (and business) getting into trouble there would be little chance of recouping your fees and possibly getting access to your croft to retrieve your belongings.

Not for me but will keep an eye out to see how it goes..........................maybe we might get a chance to get a cheap Myswag retreat!

[Steffo1]

With 20,545 'swaggers @ $100 each what are the possibilities? But, do we all want to camp together? I think the
ex LCMP is doomed, doomed I tell you!
Steve

[CokeBottle]

Just read elewhere that the sale of LCMP has fallen over.

Anybody know if this is accurate?

[Homer_Jay]

according to Facebook all rumour.
That's good enough for me............

Ha

[Fizzie]

Faceplant from a week ago:

"Crofter's Estate has recently become aware of several rumours that have been circulating online and elsewhere regarding its onsite business activities and its officeholders.

Crofter's Estate wishes to assure everyone that these rumours are unfounded and entirely false.

Investigations are underway into the source of these rumours, which are considered to be defamatory and damaging to the good name and reputation of Crofter's Estate and its officeholders.

Crofter's Estate intends to fully pursue all legal rights and remedies available to it at law to ensure that these rumours cease immediately and those responsible are held accountable.

Crofter's Estate wishes to reassure everyone that it will be continuing its usual operations on site despite the obvious damage that these rumours have and continue to cause."

Hmmm 

Do they possibly protest too much?

[BaseCamp]

"Definitely"  ....   for them to put off our BS detectors; they should have added something like:

"And we are proud to report that to date 30% or all the Croft plots have been sold and settled already; we have completed 80% of all the road works and other internal structures; and the 2 major concert events for 2016-2017 are 50% sold out already".........

But what's that I hear you; (Crofter Inc.) confess.....   none of this has happened  (aka) case closed.....

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