The phone enquiry code for this property is - 2752
BEST SUITED TO CASH BUYER
2BR FULLY RENNOVATED HOUSE
3 PHASE POWER / NEW METERBOX
NEW SEPTIC & NEW GAS HOT WATER
2 X 4 CAR COLOURBOND SHEDS
5 MINS TO TOWN
5 ACRES OF MOUNTAINS, VALLEY AND SEASONAL CREEK
RATES ONLY $200 PER QUARTER
QUIET COMMUNITY WITH GARBAGE SERVICE
OCCUPY | WORK | INVEST | HOLIDAY | AIRBNB | RENT!!!!!
Suitable for any scenario!
The title is Tenants in Common. This is best suited to a Cash Buyer.
Doctors Gap Tenants in Common (TIC) Community Explained
Doctors Gap is a rural community near Lithgow where the land is owned under a Tenants in Common (TIC) arrangement rather than being fully subdivided into separate freehold lots.
How it Works
The entire property consists of approximately 117 acres.
Ownership is divided into 22 shares.
Each owner holds a percentage share of the whole property on the title.
Although owners have a share in the entire landholding, each shareholder has an exclusive-use area around their cottage or block, identified by fencing and the community's shareholder agreement/by-laws.
What Owners Actually Own
Instead of owning a separately titled 5-acre lot, an owner owns:
A share of the entire 117-acre property.
The right to occupy and use a designated fenced area / all buildings allocated under the shareholder agreement. This is identified as Cottage 6: 45 Dovtors Gap Road, Doctors Gap NSW.
A 1/22 share equates to approximately 5.3 acres of entitlement (117 acres ÷ 22 shares).
Rates and Services
Although the land is held under a TIC arrangement:
Owners receive separate council rate notices for their allocated area.
Owners are responsible for maintaining their own cottage, fencing, septic system, and improvements.
Shareholders contribute to the upkeep of shared access roads and common areas.
Advantages
More affordable than many fully subdivided rural properties.
Access to acreage living close to town.
Large private-use areas while sharing ownership of common land.
Potential lifestyle benefits such as bushland, wildlife, and community-minded neighbours.
Things Buyers Should Understand
It is not the same as owning a separately titled rural block, therefore some lenders may be reluctant to finance TIC properties, making cash buyers more common.
Buyers should review the shareholder agreement and title documents carefully.
Any future subdivision would generally be subject to council approval and cannot be assumed.
Purchasers should seek their own legal advice.
