New Buyer Information

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.

Please note membership and license Fees will increase from 1 July 2022.

Effective 1 July 2022, fees for new members will be $20,000 for shares and membership and $12,000 annual non-license fee. Total payment on settlement is $32,000.

Note:
Members obtaining their waterfront license within 3 months of property settlement will be entitled to a full refund of the annual non-license fee.

Members issued a license after 3 months of property settlement will receive a refund of $1,000 per month prorated. E.g. license issued 6 months after settlement will receive $6,000 refund.

License fees of $1,000 per month will be issued on the anniversary date of property settlement for all non-licensed members until such time as a license is issued. Prospective buyers of waterfront properties must request from the vendor a Waterfront Inspection by Sylvania Waterways Ltd and Conditions For Waterfront Licensing Report which will detail all items required to obtain a waterfront license.

Payments to be made to the following account:
Bank : Commonwealth Bank
Account Name: Sylvania Waterways Limited
BSB: 062 000 Account: 2064 9292

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