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Construction and completion

• The construction of King Apartments will commence in July 2016
• The car park component will be completed in mid-2017
• King Apartments will be completed in 2019
• There are 11 floors of 12 apartments each, 132 apartments in total
• The aspect break-up of King Apartments is 80% North, 10% East and 10% West
• Savelle Property is the developer/operator and Savelle Constructions are the builders
• Savelle is a private family business with a 100% completion rate
• All previous projects by Savelle can be viewed at http://www.savelle.com.au/pastprojects

Finance and regulation

• The buyer fully owns the property, there is no 99-year lease
• 10% of the purchase price is required for deposit
• You can sell your apartment before settlement
• You can sell your unit through Savelle Property or another agent, it’s up to you
• You can buy your unit with a bank guarantee. Deposit bonds are not accepted
• This project is not suitable for first home buyer grants
• Overseas buyers do not need FIRB (Foreign Investment Review Board Approval)
• The minimum management agreement is 6 months
• Savelle Property can manage the property for you but this is not exclusive. You can manage it yourself or give it to a known agent

Pooling System

• Your apartment will belong to one of five pools:
1. Studio
2. 1 Bedroom
3. 1 Bedroom MPR
4. 2 Bedroom
5. 3 Bedroom
• Depending on your apartment, each pool is operated in a taxi system to evenly spread the occupancy. Every month, income for each pool is tallied and divided by the amount of apartments in the pool to generate your income

Accommodation options

• You can live in your serviced apartment, but for no longer than 3 months
• You can stay in your apartment for a night or a few weeks, it’s up to you. Visiting friends and guests are also welcome
• You can Air BNB your apartment

Onsite services

• A gymnasium will be available in the complex
• A concierge service will be available 24 hours a day
• Strata levies will range between $700p/q-$1,000p/q depending on unit
• Guests or the operator are accountable for missing/damaged property
• A shuttle bus will be provided free of charge to the residents of King Apartments
• A new car park at the south side of the building is for commuters using Mascot Station and Sydney Airport. Additional spaces are not available for purchase
• Multiple advertising and social media portals will be used to advertise availability of units in King Apartments