About Quondam Village
Quondam Village was established on a portion of the land owned by the Jeppe Quondam Sports and Social Club (“ the Club”). The Club, which has been operating in Bedfordview since 1939, decided to establish a retirement village which would provide residents with a safe and secure environment for the rest of their lives and would enable them to enjoy the benefits of the club’s sporting and social facilities. All units are sold with life rights.
Development of the village commenced in 2006 with the first residents moving in in 2008.
The village property is registered in the name of The Quondam Village Trust (” the Trust”) which is managed by a Board of Trustees. The Trust manages the sale of the life rights and the village operational activities.
A Village Committee, elected by residents, manages the social activities of the village and appoints 2 representatives to the Finance Committee set up by the Trust to review financial and operational matters.
The only beneficiaries of the Trust are the Club, the village and the residents of the village.
Portions of the proceeds of the resale of life rights are allocated to two reserve accounts for the benefit of residents – a Levy Subsidy Reserve and a Capital Replacement Reserve. These reserve accounts are used to subsidise the monthly levies for residents.
Distributions of the profits of the Trust are made to the Club to assist the Club with operational requirements and to finance capital improvements to the Club’s facilities for the benefit of all members including the village residents who receive lifetime membership of the Club.
Distributions are also made to finance extraordinary repairs and other exceptional expenditure in the village.