2017-05-24 Special Meeting Agenda

SPECIAL MEETING AGENDA   24 MAY 2017




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SPECIAL MEETING AGENDA                                                            24 MAY 2017

 COMMENTS               The subject property comprises a large Rural Zoned allotment with Noosa River
                        frontage and is known as “Johns Landing” with an existing Camping Ground.
                         It is a difficult assessment as many of the structures appear to be non compliant
                        with approvals. Gagaju Bush Camp lease part of the property with a reported
                        weekly rental of $500. Other Income details for the camping ground were
                        unavailable.

                         In our opinion with regard to unavailable income figures and The Approved use
                        of the Camping ground and restrictions, we have adopted the Replacement Cost
                        Method of valuation with the value of the Land Content and added value of the
                        Depreciated Improvements.

                        In our opinion having regard to current market conditions, recent and historical
                        similar sales evidence and the subject property topography and use we consider
                        a range of $2,000,000 to $2,400,000 indicative.

 VALUATION              WE VALUE 118 JOHNS ROAD, COOROIBAH QLD 4565 SUBJECT TO
                        CONDITIONS CONTAINED HEREIN AS FOLLOWS

                                                 $2,200,000

                          ( TWO MILLION TWO HUNDRED THOUSAND DOLLARS)

                              er       a       EE
                         Cex           Ct
                                  ———— =,

                        Warren Walker AAPI
                        Certified Practising Valuer/Registration No.1828.

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