New Buyer Information

Information for Buyers

Sylvania Waterways Limited (“the Company”) is the legal owner of Lot 1 in Deposited Plan 615171.

This land comprises all of the seabed and waterways adjoining waterfront land within the Estate adjacent to all properties in Sylvania Waters NSW. The company permits adjoining land owners to erect seawalls and waterfront devices such as jetties, pontoons and the like on the company land. However, that permission is granted pursuant to a license which has strict conditions such as:

  • The license is not transferable to a new purchaser of the property;
  • 
The license holder must be a Member/Shareholder in the Company;
  • The encroaching sea wall and/or waterfront devices must be removed if the property owner 
ceases to be a shareholder of the Company or fails to pay the annual fees. 
It is a condition that if any encroaching seawall and/or waterfront devices are to be retained following the purchase of a waterfront property, then before completion or no later than date of settlement, the new owner must:
  • Apply to the Company for the issue of shares and associated membership in the company;
  • Enter into a new license agreement in relation to the waterfront devices; and pay the fees under the new license.

Ownership and use of any waterfront devices (Jetties, pontoons, poles) erected over the Company’s land without an appropriate license is trespass upon land owned by Sylvania Waterways Limited.

Who may be a Member/ Shareholder of Sylvania Waterways Ltd

Specific shares are identified for each of the 367 waterfront properties which border the canals of Sylvania Waters.

Shares may only be purchased by those 367 waterfront property owners. Shareholders are also referred to as “Members”.

Shares must be applied for in the name/s shown as owners on the Property Deed.

One vote at general meetings is allocated to each shareholder’s property. Some properties are owned by Companies and, in these cases, the share application should be lodged under the Company’s name and bear the Company Seal.

Members owning more than one waterfront property need to apply for shares for each property.

Shares are not transferable – they are automatically forfeited upon sale of the property to which they apply. New owners must subscribe for new share allocation upon settlement.

Currently the share application fee is $5,000 per property. Properties with Waterfront Devices are also required to pay an annual licence fee of $4,000. A request for an exemption certificate can be submitted to Sylvania Waterways Ltd if all waterfront devices are determined to comply with the conditions specified on the Waterfront Facilities Exemption Certificate form (1017). An exemption certificate will waive all future annual licence fees providing waterfront devices remain compliant with the conditions specified in form (1017).

Non-members with over hanging seawall cappings or waterfront devices will be charged $10,000 per annum for temporary access.

No trespassing will be tolerated.

What can I do at my Waterfront property? 

Before Obtaining a Waterfront License

In addition to becoming a Member and Shareholder in Sylvania Waters, the following must be completed in order to obtain a waterfront licence.

1. New owner to attend an introduction to Sylvania Waterways Ltd meeting which is held at our administration offices located at Strata Title Management (STM), Mezzanine Level, 191–193 Taren Point Road, Taren Point.

The meetings take place on the first Wednesday of every month and commence at 6pm. The meetings take less than one hour and provide the new owner with the opportunity to meet with the Company’s Directors, watch a short video about living in Sylvania Waters and importantly, learn about their sea wall.

The sea wall is the waterfront owner’s responsibility. Given the sea wall is the only thing between the sea and the property it is very important the new owner understand their responsibilities and how to maintain the sea wall correctly.

The new owners share certificate will be made available for collection at this meeting.

2. Obtain a sea wall inspection report from engineers Taylor Thomson Whitting (TTW). The sea wall inspection will identify any maintenance required on the sea wall. The cost of the inspection and subsequent report is $550 inc GST. New owners can be assisted in ordering the inspection by a Director of the Company at the introduction evening.

3. Confirm the property has a life buoy installed near the water.

4. Rectify any outstanding items noted on the Waterfront Exemption Certificate.

Once a waterfront license is issued, providing the waterfront devices are maintained in a safe condition (remain compliant), no future annual waterfront license fees will apply.

Fees

Current fees for new members with existing waterfront devices are $5000 for shares and membership and $4000 for the first year’s waterfront license. Total payment is $9000.

Payments to be made to the following account:
Bank : Macquarie Bank
Account Name: Sylvania Waterways Limited
BSB: 182 222 Account: 303038897

Important Information
Please reference ‘Property Address’, with payment.
Membership fees are paid once only.

Enquiries regarding Membership & Waterfront Licensing

All enquiries regarding Membership, Completed Membership application forms and Waterfront Licensing should be directed to Simpson Freed Lawyers. Michael Corbett-Jones

Simpson Freed Lawyers
Level 2, 304 Kingsway Caringbah
PO Box 149 Caringbah NSW 1495

Ph: (02) 9589 5200
Fax: (02) 8456 5929
Email: michael@simpsonfreed.com.au

Contact Michael

1014 - Application for Shares in Sylvania Waters
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1018 - Waterfront Owners Checklist
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