Caretaker Arrangements

On 8 May 2019, Stockwell River Development Pty Ltd as the then sole owner of all lots, conducted an Extraordinary General Meeting at which they awarded the Virtuoso Caretaker rights to Stockwell Living Pty Ltd for a period of 25 years. This is fairly standard practice in Qld.

The contents of that Caretaker agreement can be seen here. As can be seen, the duties of the Caretaker are clearly laid out and there are a lot of them. An extract of the Duties can be seen here. There is also a schedule of the duties per day, week, month, quarter, biannual and annual which are extracted here. On the surface it is easy to think that the on site representative would be run off his/her feet.

In the intervening years Stockwell has changed the on site manager on numerous occasions. The VBCC has made representations to Stockwell about the unsuitability of the arrangements and has sought legal opinion on the available options.

At the 2024 and 2025 AGMs. Stockwell sought to have their 25 year term extended by a further 5 years. One of their requests can be seen here and a good summary of the Body Corporate view as at the last AGM can be found here. On each occasion it was voted down.

A more recent update from the February Committee meeting in relation to Stockwell reassigning their obligations to one of their other entities is here.

We are currently paying about $147,000 per year for our on-site caretaker.