Frequently asked questions about Dakabin Crossing

  1. 1What road access is available to and from Dakabin Crossing?

    Dakabin Crossing is located at 140-150 Alma Road, Dakabin, in the heart of the North Lakes expansion zone and 26km from the Brisbane CBD. It is served by a good road network, connecting major arterial the Bruce Highway, making all areas of Brisbane, Sunshine Coast and Gold Coast very accessible. The development’s central location means that it is a short car journey from many of Brisbane’s landmarks.

    North Lakes sits in the Moreton Bay region in the Northern Growth Corridor, with over $2 billion in infrastructure and development committed over the next few years. This includes the $884 million Queensland Government Bruce Highway upgrade and other local road upgrades, $250 million Laguna North Lakes project, $300 million University of the Sunshine Coast Petrie Campus and University precinct, and much more.

  2. 2Have all development applications been approved by Local Government?

    All development applications have been approved and no further approvals are required from Moreton Bay Regional Council.

  3. 3When will the project be completed?

    Dakabin Crossing has 5 stages of which the first 27 units are completed and sold (stage 1 and stage 2A). Building has commenced on the next stages. The whole project is scheduled to be completed by June 2020.

  4. 4Is my money safe between now and completion?

    The Queensland State Legislation under the Property Occupations Act and the Agents Financial Administration Act protects those investing in off-plan projects and property in the State of Queensland. There are legal contracts and disclosure plans prepared by the developer’s solicitors.

    The 20% deposits will go directly into the Real Estate Agents’ Real Estate Trust Account after contracts are unconditional until time of settlement. This account is audited every three months by an external auditor and reported to the Office of Fair Trading every 12 months.

    In the case of unforeseen circumstances whereby the project is not able to be delivered, the buyers are protected by clauses within the standard purchase contract.

  5. 5What is the project address?

    The Project Address is:

    140-150 Alma rd., Dakabin, Brisbane, QLD, 4503

  6. 6What other costs are there in addition to the price of the townhouse?

    This amount will include the purchase price after any discounts applicable, along with the Transfer Duty Fees, also called Stamp Duty, of approximately 3.5%, and all the cost related to KYC and foreign Investment associated fees. The amount will also cover the body corporate fees, rental fees and other property associated fees(rates & taxes, water, landtax and other expenses) as Linzen Real Estate will manage the property and all the expenses on your behalf to make your live easier. Please note that your payment goes directly into the Linzen Real Estate Pty Ltd Trust Account i.e. no other company or bank account receives any money you pay.

    Visit the Queensland Treasury website for more information: https://www.qld.gov.au/housing/buying-owning-home/advice-buying-home/transfer-duty/how-much-you-will-pay/calculating-transfer-duty/estimate-transfer-duty

  7. 7What are the strata levies for managing Dakabin Crossing Estate expected to be?

    Dakabin Crossing is a Strata Tile Scheme and governed by the Body Corporate and Community Management Act 1997 (“BCCM Act”) with detail proposed first year budget for the administration and sinking fund is disclosed in the Disclosure Statement. The Strata Title Scheme is currently in registration and will be established by the end of May.

    Dakabin Crossing is a Strata Title Scheme governed by the Body Corporate and Community Management Act 1997 (“BCCM Act”) with details of the proposed first year budget for the administration and sinking fund provided in the Disclosure Statement. The Strata Title Scheme is currently in registration and will be established by the end of May 2019.

    Strata levies start from $45 per week and depend on the size of the lot.

    Strata levies relate to the running of communal areas and all costs are disclosed in the Disclosure Statements as part of the Contract of Sale. The cost includes:

    • Building Insurance
    • Swimming Pool Maintenance
    • Internal Park Maintenance

    Admin charges include:

    • Bank charges
    • Caretakers’ fees
    • Cleaning material
    • Community power
    • Communications and disbursements
    • Fees and permits
    • Gas, insurances, termite inspections, telephones and other costs.
  8. 8Will my townhouse reflect the images on this website?

    The images on this website are real photos of the display house and renders based on architect’s drawings. The finishes in the images are a true reflection and may vary between lots. There are two variations in terms of a light and a dark colour scheme for information purposes only. You should refer to the Schedule of Material and Finishes in the Disclosure Statements provided with the Contract of Sale.

  9. 9Can I rent my townhouse out as an investment?

    Yes. Linzen Real Estate is offering a minimum 5% rental return for the first 12 months and will manage the properties on behalf of the buyers. The Seller and Linzen Real Estate Pty Ltd will enter into a Rental Guarantee Agreement with a management fee for the properties. The fee for the first 12 months will be included in the bitcoin price of the townhouses.

  10. 10Are there retail, food and beverage, schools and transport facilities close by?

    Yes. Convenience comes in many forms at Dakabin Crossing. Everything you want and need is just beyond your doorstep.

    Our retail centre is the perfect place to stop in for your morning coffee or grab the necessities from the convenience store. Westfield North Lakes is just a seven-minute drive away, where you’ll find all the big brands plus hundreds of specialty stores, cinemas and restaurants.

    IKEA sits conveniently next to Westfield, and Costco and Bunnings are just past the North Lakes business and industrial centre - all a few minutes drive from Dakabin Crossing. Dakabin Crossing residents will have complimentary access to full leisure facilities on site, including a swimming pool and the large park with BBQ area. Schools and public transport are all within walking distance.

  11. 11What rental yield should I expect on my apartment?

    By purchasing your townhouse in this initial phase of release we estimate that you could receive a rental yield of 5%

  12. 12Should I expect any capital growth leading up to completion?

    The launch prices are discounted to market value and thus capital growth should be seen as the project nears completion.

  13. 13Do I need to apply for foreign investment approval and what is the cost involved?

    Foreign persons may need to apply for foreign investment approval before they purchase residential real estate in Australia.

    The Solicitor of the seller will apply on behalf of the buyer for the foreign investment approval, and in order to permit the seller to comply with its obligations to the Treasurer of Australia, the Buyer must, as part of the KYC (Know Your Customer) procedures, within five working days of receiving a request from the Seller, give to the Seller’s Solicitors a statement showing:

    1. The name, citizenship and ordinary residence of any individual Buyer
    2. If the Buyer is a company, the names, citizenship and ordinary residential address of all directors and shareholders of the Buyer
    3. If the Buyer is acting as trustee, the names, citizenship and ordinary residential addresses of all principal beneficiaries of the trust
    4. Whether or not the Buyer is a Foreign Interest
    5. Any other relevant information reasonably required by the Seller. Foreign persons are required to pay a fee for each application made, or notice given, under the Act and the Regulation (limited exceptions apply).

    The fees that are payable for residential land applications depend on the price for the acquisition of the interest. Fees payable can also be affected by regulations prescribing circumstances when a lower amount may be payable.

    The fees will be AUD $5,600 for acquiring an interest in residential land where the price of the acquisition is $1 million or less ($0 – $1,000,000)

  14. 14What are the benefits to buying off the plan?

    The ability to lock in a price – One of the advantages of buying off the plan is that you will pay the current market price for a property, even though it will be completed in the future.

    Securing a high value asset for a low initial capital outlay – While a deposit is made to secure the property (usually 20%), the entire payment doesn’t need to be paid until the property has been built. This provides you with time to organise your finances, and if required, sell your existing home without the need for bridging finance.

    Increase in property value – If the market experiences growth, the property you purchase off the plan today may increase in value when you settle later.

    Tax advantages – If purchasing for investment purposes, you may be able to claim depreciation on your tax for items like fixtures and fittings. It is important to consult your Accountant to find out if you are eligible.

    Seven year builders guarantee – Newly built properties in Australia come with a seven year builders guarantee, which means structural or interior building faults must be repaired by the builder during that time. As an investor, your property manager will handle all of the claims process on your behalf.