Winanglo

The board of the Winchelsea Community Bank has set up an independent incorporated charity, Winanglo Inc., for the sole purpose of facilitating community projects in and around Winchelsea, Anglesea and Lorne (Win Ang Lo).

This first project of ten new small homes is suited to older and local people. At present, these people have little choice but to leave Winchelsea (the town they know) as there is currently no independent aged-suitable housing in town.

The site was originally sold for a peppercorn amount by the Church of England to the old Winchelsea Shire with a request that it be used for the wellbeing of the local aged community. These homes will be state-of-the-art design and beautifully landscaped.

In essence, you will be able to buy a lifetime usage right, giving you the right to live in the home for as long as you choose. Any maintenance and management mechanisms associated with the usage right will be fully disclosed as necessary at the time of due diligence.  There is no stamp duty, as there is no title transferred into your name. On departure, and after any expenses required to re-instate the condition of the unit back to its original (new) condiion, the unit will be revalued and any capital gain goes to your family or your estate.