95 Wild Dog Road APOLLO BAY VIC 3233

DESCRIPTION

The Binnawee Estate.

SPACE – PEACE – NATURE

Binnawee Co-operative is a 250 acre co-operative situated in one of the most picturesque valleys in the Otways, 4 kms from Apollo Bay.

It is jointly owned by 6 families via a company (the Binnawee Co-operative Limited) registered under the Cooperatives Act 2013 and has been successfully operating for 35 years. Each family’s individual shareholding entitles them to the exclusive use of the specified dwelling attached to their share allocation plus joint ownership in common of the remainder of the property, similar to a body corporate. Each shareholding and its relative cost is related to the respective dwelling size.

Current owners include several young families providing their children with future memories of holiday get-togethers, a retired university lecturer, professional photographers, business professionals, nutritionist and psychologist.

The family share the property’s maintenance, workload and management of the cattle, and have over the past few years completed two carbon tender tree planting contracts. These tasks are organised around 6/8 weekend working bees a year.

Shareholding for sale
The shareholding for sale is one family’s one third share in the property (the five other shareholdings range in size between 20% and 6%) which entitles the owner(s) to exclusive use of a comfortable 4 bedroom house as per the attached floor plan. The large deck provides spectacular views of the surrounding hills, the wonderful sunrise and glorious sunsets.

Annual outgoings for this shareholding are $6500 which includes all rates and taxes, insurance, power, property maintenance, etc. Note that there is no stamp duty payable on this purchase.

Be prepared to think outside the square, and consider, because of Binnawee’s communal nature, a joint or shared ownership with family or friends. One of the other shares is jointly owned by three married sisters, parents of 6 children between them and another by a father and his three married children who share wonderful holiday times at Binnawee with their 7 children. Children love to paddle in the shallow waters of the Wild Dog Creek and spend hours on the tennis court
Teenage children of previous families had their own horses for a number of years – so there are infinite possibilities for a long time enjoyment of the many pleasures of Binnawee.

Five Hundred thousand dollars will buy a one third share in this magnificent two million dollar property.

Call today to explore the possibilities of being part of this wonderful venture.