valcros circuit, dunsborough - questus · dunsborough has grown from its humble 1950’s origins as...

NationalRental

AffordabilityScheme

NRAS

A G

OVERNMENT INCENTIVE

NA

TION

AL RENTAL AFFORDABILITY

SC

HEM

E

IMPORTANT NOTICE: This document is not a

product disclosure statement or prospectus and

should not be read and construed as a disclosure

document under the Corporations Act. This document

is for information purposes only and prior to completing

any contract you must read the Product Disclosure Statement

(PDS) to which this offer relates, along with any other contracts

that will be made available to you before you proceed to purchase.

Questus Residential investment Fund

dunsboRough lakes dual occupancy

valcRos ciRcuit, dunsboRough

WesteRn austRalia


dunsboRough lakes dual occupancy, dunsboRough Wa

The primary focus of NRAS is to:

�� increase the supply of affordable rental dwellings;

�� reduce rental costs for low to moderate income households; and

�� encourage large scale investment and delivery of affordable housing.

The National Rental Affordability Scheme Act 2008 and the National Rental Affordability Scheme Regulations

2008 (the Act) passed the Senate in November 2008.

nRas oveRvieW The National Rental Affordability Scheme is an initiative by the Federal

and State Governments to encourage the construction of new

housing in Australia.

The Federal Government has contributed $4.5 billion and State

Governments $1.5 billion towards NRAS to create up to 50,000 high

quality new affordable rental properties across Australia.

The Government Incentives are tax free incentives1, available each year for

10 years to owners of NRAS Approved Properties.

For an Investor to be eligible for the Government Incentives, NRAS requires you to rent your Approved

NRAS Property to an Eligible Tenant at least 20% below the market rate for a period of 10 years.

Under NRAS, the Federal, State and Territory Governments will currently

contribute $10,917 per annum for each Approved NRAS Property.

NRAS is a long term commitment by the Australian Government to invest

in affordable rental housing. The Scheme seeks to address the shortage

of affordable rental housing by offering financial incentives to build and rent

dwellings to low and moderate income households at least 20% below market

rates for ten years.

What is the national Rental aFFoRdability scheme (nRas)

NationalRental

AffordabilityScheme

NRAS

A G

OVERNMENT INCENTIVE

NA

TION

AL RENTAL AFFORDABILITY

SC

HEM

E

1 The State component of NRAS is paid as a non assessable, non exempt income (NANE). ATO rulings have determined that expenditure associated with deriving the NANE is non-deductible.



investment beneFits

� Security of Real Property

Your Approved NRAS Property may be a house and land package or a

completed apartment or townhouse not previously resided in. Questus

Funds Management Limited has already made application to the Department

of Social Services (DSS) to have approved NRAS properties available for sale and

participation in the Questus Residential Investment Fund.

� Increase in Value

of Property

The value of many asset classes

and investments may fluctuate over

time. Investments in direct property

have generally showed consistent

returns and have demonstrated to

be less volatile than other asset

classes and investments such as

listed equities.

As your underlying investment is

direct real property, you will benefit

in any capital growth. Any increase

in the value of property has taxation

implications.

� No Property Management Hassles

Questus has sourced property approvals from the Government to provide an

alternative in affordable rental housing. To maintain compliance with NRAS,

it is necessary for the Approved NRAS Properties to be managed by an

approved Property and Tenancy Manager appointed by Questus Funds

Management Limited, so there is no need for you to worry about rent

collection or tenancy management.

� Other Taxation Benefits

A significant taxation benefit of an Approved NRAS Property

is that the Government Incentives are a refundable tax offset

(RTO) and non assessable non exempt income (NANE), which

means the income is tax free.

All property investments enable the investor the ability to deduct

associated costs with managing their property, including but not

limited to property management fees, insurances, rates, interest

costs, as well as specific taxation benefits such as depreciation.

By owning an Approved NRAS Property all these taxation

benefits are available to you. However, recent taxation rulings

have determined that expenses associated with deriving the

NANE are non-deductible. As a result, the portion of expenses

able to be claimed by an investor is limited to the proportion of

assessable income. You should seek your own independent

tax advice to find out what tax benefits are available to you.




the QRiFThe QRIF was established as a means to allow investors who acquire an

Approved NRAS Property to receive the various Government Incentives

provided for under NRAS.

Questus recognises the underlying

demand and absolute need for

affordable housing developed

in a socially responsible and

sustainable manner, which allows

for complementary integration

within community frameworks.

By investing in an Approved NRAS

Property and agreeing to the

terms and conditions contained

in the QRIF Product Disclosure

Statement (PDS), you may receive

the Government Incentives. Once

you have made your decision on

which Approved NRAS Property

you will acquire, simply complete

the application in the QRIF PDS to

access the Government Incentives

available through NRAS.

QRIF will receive the Government

Incentives for Approved NRAS

Properties on behalf of investors

to ensure compliance with the

NRAS legislation and pass on

the Government Incentives to

investors.

* The PDS issued by Questus FundsManagement Limited should be read in its entirety before making any decision to apply for an interest in the QRIF.

key FeatuRes

�� For the current 2015/2016

NRAS year, the scheme

provides for Federal, State

and Territory Government

incentives of up to $10,917 per

annum to an investor in an

Approved NRAS Property.

�� The QRIF has been structured to allow investors who want

to invest in new residential housing, to also access the

Government Incentives available through NRAS.

�� Hassle free investment as your Approved NRAS Property will

be managed on your behalf to ensure compliance with the

NRAS legislation and regulations.

�� Government Incentives are indexed annually and available

for a period of ten years for each Approved NRAS Property

�� The Commonwealth Government Incentives are a refundable

tax offset. This means that the offset will reduce the amount

of tax you are required to pay in any year. This amount is

required to be claimed through your Income Tax Return.

�� The State Government Incentives are non assessable non

exempt income2. This means that the amount is not included

in your income in your income tax return (no tax payable).

�� Approved NRAS Property managed by professional property

and tenancy managers (Property and Tenancy Managers).

This is a summary of the Key Features. You should read the entire PDS and seek your own independent advice before deciding to invest.

2 The State component of NRAS is paid as a non assessable, non exempt income (NANE). ATO rulings have determined that expenditure associated with deriving the NANE is non-deductible.



about the buildeR

bgcBGC is a Western Australian based group of companies with an interest in

residential and commercial building, and building and construction products

manufacture to name a few.

From modest beginnings over 50 years ago, BGC has grown to become one of

the most respected companies in Western Australia.

For the last ten years, BGC has built more homes than any other builder

in Australia, proving that more West Australians trust them with their

most important asset – their dream home.

BGC has invested heavily to develop integrated building supply

and manufacturing businesses, providing a diverse family of

new home builder brands with direct access to the top quality

products and materials needed to build your new home. From

brick makers to window manufacturers, from cement making

to roof tiles – sourcing these products from within allows BGC to

control the quality of materials and build superior homes, without the

potential frustration of supply shortages and delays.

All of the building brands within BGC are passionate about sustainable construction. They are consistently

looking for innovative materials and construction methods to ensure that modern construction has less

impact on the environment, and allows clients to enjoy the benefits of an energy efficient home.

Outside of the 30 BGC companies involved in building homes, they always choose local suppliers wherever

possible. And because BGC is a West Australian company, they understand the importance of supporting

the local economy.



Dunsborough has grown from its humble 1950’s origins as a series of modest

beach shacks, to its present position as a highly desirable lifestyle location,

boasting a vibrant arts scene with live music, widely-renowned art galleries

and bustling summer markets.

It is surrounded by some of the Margaret River region’s 100 plus wineries

and the tasting rooms of award-winning boutique breweries.

The Dunsborough region is fully serviced and has excellent road access to

Perth and surrounding locations. New freeway extensions have reduced travel

time between Perth and Dunsborough to approximately two and a half hour. There

are bus services connecting Dunsborough with Perth, Bunbury, Busselton and Margaret River.

the location The coastal town of Dunsborough is located in the South West of Western

Australia on Geographe Bay and is less than an hour from the regional city of

Bunbury, and an easy two and a half hour drive south from Perth. Nearby towns

include Busselton, Yallingup and Margaret River, which along with Dunsborough

form the City of Busselton.

The City of Busselton had a preliminary estimated resident

population of 31,767 in 2010 according to the ABS,

however it is estimated that visitors increase this to

over 60,000 on any one day during peak tourism

periods and prior booking of accommodation is

essential at these times. The City of Busselton’s

average annual growth rate over the past 20 years

has been one of the highest sustained growth

rates for a regional area in Australia in excess of

4%. Approximately 67% of the total population is

located in the town of Busselton.

The Dunsborough urban area has achieved

healthy population growth in recent times and has

a permanent population of approximately 4,000.

The City of Busselton’s current population structure

reflects a broadening of the area’s economy and increasing

employment opportunities with a corresponding reduction in the

significance of the area’s ‘retirement’ function. This is highlighted by the

reduction in the percentage of residents aged over 55 from 25.1% in 1996 to 23% in 2001 while

the percentage of residents aged 5-54 increased from 67.5% to 69.9% during that time. Extract

from the City of Busselton.

dunsboRough, WesteRn austRalia


dunsboRough lakes dual occupancy, dunsboRough Wapage 7

dunsboRough, WesteRn austRalia

the location

Dunsborough and neighbouring Margaret River share an international reputation

for wine making, beaches and world class surfing. The region is a popular

destination for both local and international holidaymakers of all demographics, and

the region boasts some of Western Australia’s most impressive natural attractions.

To service the holiday market (and to provide the highest possible return for the owners) a

significant proportion of Dunsborough accommodation is designed to maximize the number of

bedrooms and bathrooms. This has resulted in an ongoing shortage of affordable, suitably configured dwellings to

service the local residential rental population.



inveRness dual occupancy

� Valcros Circuit, Dunsborough (formerly Inverness

Avenue)

The Inverness Dual Occupancy townhouses will be located on the southern

boundary of the Dunsborough Lakes Golf Course, a championship level a 18 hole

course with excellent fairways and greens, and attractive water features on most

holes.

With substantial frontage to the 15th fairway and green, and the adjoining water feature, there

will be a discreet access point to the Dual Occupancies with suitable parking and amenities storage for the

occupants.

L A K E SDUNSBOROUGH

CAVES ROAD

CLUBHOUSE DRIVE

COMMANAGE ROAD

Tourist precinct with clubhouse and tavern

Employment precinct

School precinct

Retirement living

Sports precinct

Dunsborough town centre

Golf Course 1st Hole

Golf Course 18th Hole

Beach

Estate masterplan

Inverness Dual Occupancy



inveRness dual occupancy

� Valcros Circuit, Dunsborough (formerly Inverness

Avenue)

� DUAL OCCUPANCY HOUSING

Dual Occupancy townhouses are double storey dwellings containing two

independent apartments and tenancies on one lot and title.

The Dual Occupancy NRAS Model is specifically aimed at assisting the Federal and State

Government to deal with housing affordability.

As the owner of a “Dual Occupancy” NRAS Property, you will receive two NRAS Incentives every year for

10 years. Assuming 4.35CPI per Annum with two NRAS Incentives, this equates to over $250,000 TAX

FREE over 10 years.

Under the Building Code of Australia, conventional townhouses are classified as either a Class 1a or 1b

building. A Dual Occupancy townhouse is considered be two (2) multiple dwellings (apartments), and is

therefore classified as a Class 2 Building (a building containing two or more sole-occupancy units each

being a separate dwelling) under the Building Code of Australia.

� NRAS DUAL OCCUPANCY HOUSE AND LAND PACKAGES FEATURES

�� Full ‘Turnkey’ quality designed and built ‘Dual Occupancy’ Townhouses

�� Air-conditioned to Ground Floor and First Floor living areas

�� Fully Landscaped and Fenced

�� Separate covered outdoor living area

�� Each independent apartment includes its own kitchen, bathroom, laundry, living area and

bedrooms

�� Fire rated and constructed to Class 2 Building Classification



site plan

� Valcros Circuit, Dunsborough (formerly

Inverness Avenue)

7.24

11.49

31.0611.49

5.61

2.47

89.7

10.28

11

29

10.28

10.39

11

8.33

31.66

28.88

8.21

10.39

5.5

5

10.39

10.39

11.37

38.78

34.98

58.59

31.59

233.82

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

10.97

65.45

73.21

30.1

32.6

17.2

12.24

10.6

10.6

10.6

10.6

10.6

10.6

2

2

7.39

10.9 10.1

2.892.5

8.56

15.12

36.34

21.13

27.74

24.43

3.5

22.2718.77

22.27

22.27

2.46

2.89

3.0719.27

5.45

5.45

7.8

22.87

20.7520.7520.75

20.75

20.75

20.75

20.75

20.75

20.75

20.75

20.75

20.75

20.75

20.75

61

1251m²

2287m²

3308m²

4231m²

5228m²

6228m²

7228m²

8228m²

9228m²

10228m²

11228m²

12228m²

13228m²

14228m²

15228m²

16220m²

17220m²

18220m²

19216m²

20229m²

21231m²

22309m²

23257m²

24

4.16

0.8

3.07

20.7520.75

20.7520.75

2600m²

INVERNESS

AVENUE

NumberJob

- -NumberPlan

Version

98412 007 A

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ROAD

Fax: (08) 97 57 3 12 0Te l: (08 ) 97 57 2 49 9M arga ret R iver, W .A . 6 28 527 Sta tion Road

A B N 9 0 00 9 36 3 31 1w w w .m cm u llen n o lan .com .auin fo@ m cm u llen n o lan .com .au

O ffices in : Port H ed la n d , B ro o m e , K u n u n u rraH ead O ffice : Jan d ako t

by contacting the McMullen Nolan Group.

satisfy themselves of this plans currency

persons wishing to utilise this data should

the revision panel. All consultants and

and correct as of the date stated within

The contents of this plan are current

A Initial Issue

Datum MRCG94Project Mngr. William GuestCLIENT:

Description Drawn Date CheckedVer.

D u nsboro ughLo t 1180 C o m m o n age R o ad

D U N SB O R O U G H LA KES

For a true to scale reproduction of this plan, plot it to A3 with the Paging Scaling set to None.

Q U ESTU S LIM ITED98412pr-007a.dgnUstation:-

mapCOGO:- Plan007 (98412)

Cogo Job : 93278

FILES

SDW 11/04/2014 WSG

SCALE 1 : 750 @ A3 - 1 : 375 @ A10 307.5

ALL DISTANCES ARE IN METRES

15

and are supplied as a guide only.subject of this plan are not guaranteedexternal to the stage/s which form theregistration. All cadastral information

plan are subject to survey and LandgateAll areas and dimensions depicted on this

PRECAL LEGEND

Vehicle Access RestrictionPotential Dwellings / Lot

Stage Boundary

See below Lot Stats table for further information

File name:- Received date:- Planner :- PLANNER'S DESIGN SOURCE for Rev

Data purpose:- Received date:- Engineer :- ENGINEER'S DESIGN SOURCE for Rev

VALCROS CIRCUIT

VALCROS CIRCUIT

VALCROS CIRCUIT

VALC

RO

S C

IRC

UIT



dual occupancy design

� DUAL OCCUPANCY FLOOR PLAN - TYPE DK1

NOTE: Floor plans shown are for illustration purposes only and are subject to change without notice.

Apartment A (2 bed / 2 bath) Apartment B (1 bed / 1 bath)

GROUND FLOOR PLAN FIRST FLOOR PLAN



dual occupancy design

� DUAL OCCUPANCY FLOOR PLAN - TYPE DK2

NOTE: Floor plans shown are for illustration purposes only and are subject to change without notice.

Apartment A (2 bed / 2 bath) Apartment B (1 bed / 1 bath)

GROUND FLOOR PLAN FIRST FLOOR PLAN



example investment - tWo nRas

� 2 bed / 2 bath PLUS 1 bed / 1 bath Dual Occupancy

Unit 11 / Valcros Circuit, Dunsborough

The information included in this example is provided as a guide only and all potential investors should consult their professional advisor.

Assumptions: Gearing Level on Property 100%. Interest rate at 5.25%. Consumer Price Index 2.5% PA. Capital Growth 4% PA. Market Value Weekly Rent of $350 per week for 2 bed / 2 bath component or 1 bed / 1 bath of $290 (before NRAS discount). Investor Marginal Tax Rate 49% (including Medicare Levy and Temporary Budget Repair Levy). Two Weeks Rental Vacancy. NRAS incentive indexed based on 2015/2016 NRAS year.

Note: The State component of NRAS is paid as a non assessable, non exempt income (NANE). ATO rulings have determined that expenditure associated with deriving the NANE is non-deductible which has been included in the calculation above.

Purchase Price $515.000

Fitout & Fittings for depreciation purposes $34,832

Total Investment $515,000

Stamp Duty on Sale $3,705

Settlement Fees & Loan Establishment $2,500

Total Investment & Costs $521,205

Amount of Loan 100% Geared $521,205

Capital Growth 4%

YEAR ONE

Weekly Rental Income after 20% Discount for NRAS $512

Annual Rental Income (50 weeks) $25,600

Plus Government Incentives $21,834

Gross Income (before tax allowances) $47,434

Property Expenses:

Management Fees 10% on Market Rent $3,200

Tenancy Selection Costs $1,210

QRIF Scheme Fee 5.5% on Incentives (includes GST) $1200

Allowance for Rates, Body Corporate Taxes, Insurance & Repairs, etc $3,700

Total Property Expenses $9,311

Interest Payable on Borrowings $38,123

Pre - Tax Cash Flow $9,311

Tax Position

Assessable Rental Income (excludes NRAS incentives)

$25,600

Less:

Interest on Loan $27,363

Depreciation on Building, Fitout & Fittings (DIV 40) $7,713

Capital Works Allowance (DIV 43) $7,257

Property Expenses (less QRIF fee) $8,110

Total Tax Allowances Available $50,443

Less: Proportion of NANE costs ($8,863)

Taxable Income (Loss) ($15,980)

Tax Benefit $7,830

Net Cash Surplus After Tax $17,141

Capital Growth $14,395

Return on Total Investment - First Year $31,536



geneRal inclusions

EXTERNAL FEATURES

• BlueScope Custom Orb roof, gutters downpipes

and cladding

• Brikmakers facebrick - Contemporary collection

• Sand render with painted finish

• BGC Stratum Duo cladding painted

• BlueScope Custom Orb Carport

• BlueScope trimdeck boundary fencing

• Pool fencing to golf course boundary

• Ceramic tiles to balcony

• Pavers to patio, driveway, carport

• Waterwise Landscaping

• Fold down clothesline

• Brass garden tap

• Precast Letterbox

• Rinnai continuous flow hot water system

• Electric Meter-box plus sub meter for separate

upstairs tenancy.

INTERNAL FEATURES

• Daikin Split Cycle air conditioning to living areas

on each floor.

• Slimline Venetian Blinds throughout excluding wet

areas

• Painted throughout

• 300x300mm ceramic tiles to living, kitchen, dining

• Carpet to bedrooms

• Vinyl wrap sliding door robes – White

• NBN connection ready

KITCHEN FEATURES

• Laminex Square form kitchen bench tops

• Laminex under counter and overhead cupboards

with white melamine internal shelves

• Stainless steel T Bar door handles

• 200x100mm gloss white tiles to splashback

• Stainless steel Technika Electric Oven 600mm

• Stainless steel Technika Gas Cooktop 600mm

• Stainless steel Technika slideout rangehood

600mm

• Clark Vital 1.75 stainless steel kitchen sink

• Chrome sink mixer

BATHROOM/LAUNDRY/WC

• 200x200mm ceramic floor tiles

• 200x100 gloss white wall tiles

• Laminex Square form vanity top

• Laminex Natural finish cupboards

• Stainless steel T Bar door handles

• Stylus Symphony Semi Recessed Basin

• Caroma Elegance multi-function showerhead

and rail

• Caroma basin, laundry and shower mixer

• Clark 42lt Laundry trough unit white

• Caroma Cameo Viteous China Toilet Suite

• Framed glass shower screen with pivot door

• Caroma Toilet roll holder

• Caroma double shower rail

• Ceramic soap dish

• Framed Vanity Mirror – polished silver

INCLUSION CONDITIONS: Due to the continual development and improvements, the developer reserves the right to alter the

specifications at any time without notice. (All alterations and substitutions will be of similar quality and standard.)

appRoved nRas pRopeRty ReseRvation FoRm(ReQuest FoR Questus Residential investment Fund pds)

please RetuRn completed FoRm via email to: [email protected]

PURCHASER CONTACT & ADDRESS DETAILS

Proposed Purchaser #1 - Given name(s), Surname, Company or Trustee (i.e. for SMSF)

Split %

Proposed Purchaser #2 - Given name(s), Surname, Company or Trustee (i.e. for SMSF)

Split %

Street Number Street

Suburb / Town State Postcode

Business Telephone Mobile Phone Contact Name

Email address

RESERVATION OF APPROVED NRAS PROPERTY - DUNSBOROUGH LAKES DUAL OCCUPANCY, DUNSBOROUGH, WA

I / We would like to reserve the Approved NRAS property being described as: Purchase Price

$

q Option 1 - CHEQUE

I / We enclose payment in the amount of $1,000 for the Property Reservation Deposit made payable to

“Questus Asset Management Pty Ltd - NRAS Reservation Account”

q Option 2 - CREDIT CARD (Mastercard/Visa)

I authorise Questus to charge my credit card the Property Reservation Deposit of $1,000.00

Card Type q Mastercard q Visa CVC # q q q qCard Number q q q q q q q q q q q q q q q qExpiry Date

/

Cardholder Name

Cardholder Signature

CONDITIONS OF PROPERTY RESERVATION

The purchase of an Approved NRAS Property is subject to the purchaser reading and completing the following:

1) Approved NRAS Property Reservation Form (this form).2) Application Form contained in the Product Disclosure Statement (PDS) for the Questus Residential Investment Fund and payment of the $11 Application Fee.3) Contract of Sale documents (Sale by Offer and Acceptance and Building Contract as applicable) within 7 days of receipt.

SIGNED BY: Purchaser 1 SIGNED BY: Purchaser 2

Signature Signature

Date of Signing Date of Signing

Adviser Details Solicitor Details

Adviser / Agent Name Solicitor Name / Company Name

Address Address

*DISCLAIMER:

The particulars contained herein were prepared for the purpose of the sale and do not form part of any agreement. The Government Incentives for the 2015/2016 NRAS year are $8,188 per annum and $2,729 per annum from the Federal, State and Territory Governments respectively.

Any information regarding the properties which have or may in the future be made available to the prospective purchaser, have or will be supplied on the clear understanding that whilst every care has been taken with its preparation, no responsibility is accepted by Questus, Questus Funds Management Limited, the developer or the selling agent or any person employed by or engaged by them for the accuracy or completeness of such information. Prospective purchasers are advised to make their own enquiries and to satisfy themselves in all respects. The seller reserves the right to alter the price and specifications at any stage.

The information provided in this brochure relates to the various properties which may be available as an Approved NRAS Property. Should you have any questions regarding the PDS contact Questus Funds Management Ltd on 1800 234 410.

** Photographs and plans are shown for illustrative purposes only. Floor plans are subject to change without notice.

Questus limited

Questus Limited (Questus) is an Australian Securities Exchange

listed funds and investment management company. Questus is

one of the largest NRAS Approved Participants and deliverers of

NRAS dwellings in the country. Founded in 2003, Questus has a

wealth of experience and an established reputation in developing

innovative property based investment products for the wholesale and

retail investment markets.

Questus Funds Management Limited (QFML) holds an Australian Financial Services Licence

(No. 286318) and is a wholly owned subsidiary of Questus Limited. QFML is the responsible entity

that manages and oversees the Questus Residential Investment Fund (QRIF), a registered managed

investment scheme with the Australian Securities and Investments Commission (ARSN 135 720 339).

Questus Residential Investment Fund ARSN 135 720 339

Managed by Questus Funds Management Limited ABN 52 111 325 556 | AFSL 286318

Issued June 2015

Enquire today:

Telephone 1800 234 410

[email protected]

105 Railway Road, Subiaco WA 6008

Tel 08 9489 4444 | Fax 08 9381 4963

valcros circuit, dunsborough - questus · dunsborough has grown from its humble 1950’s origins as...

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