We understand that the recent news regarding the completion of our civil tender and the challenges we have faced in securing a viable price during a hyper-escalated market may have left you with questions. We apologise for any disappointment this may have caused.
To assist you with this, and in order to complete the return of all funds to unitholders promptly, we have provided FAQs and step-by-step instructions below to ensure we can promptly return all funds. Please refer to the FAQs below for further information and if you do not find the answers you are looking for, please feel free to contact our team who will be happy to assist you.
Why are we not commencing with construction?
Unfortunately, since the completion of our civil tender, we have been unable to secure a construction price that maintains an adequate contingency for the fund due to hyper-escalation. While we’ve completed several rounds of preliminary project pricing throughout this journey, to maintain an accurate and viable fund build-up, the development costs have changed so dramatically that simply adding more debt or equity to compensate does not preserve a viable financial model that the investment is based upon.
Do I lose any of my money? / Will I get all of my investment back?
No unitholders' funds will be lost, all investments will be refunded in full. Unitholder funds have never been used for any purposes and have been held in the Custodian's trust account as outlined in the PDS.
What happens to the property that is owned by the Unit Trust?
Unitholder funds were not used at all, including to purchase the property, and have been held in the Custodian's trust account as outlined in the PDS.
How do I get my investment returned?
All money will be refunded on 31 July 2023 to the bank account you nominate. To nominate a bank account, please follow these steps before 31 July 2023
- Set-up / Log-into your investor account held with Registry Direct
- Follow the prompts shown in the image below to update/enter the bank account details.
- From the home page, click on ‘Holdings’.
- Click ‘edit’ in the ‘Payment instructions’ section
- Confirm that the information you’ve entered is accurate
- Save these details
- Confirm that the account information you entered now appears in the 'Payment instruction' section
Once you are logged in you will see your home page, which displays your holding listed under the investor they belong to. Click on a holding to see more details. Confirm that your bank details are correct in the payment instructions section.
Will I receive any returns above my initial investment?
No. Any minor interest generated by the trust was used to pay fund administration costs.
How long will it take to get my investment funds back?
All money will be refunded on 31 July 2023 to your nominated bank account. Settlement can take 1-3 days.
I have not received my Refund.
If you have not received your funds within 3 days of the Refund Date, please check the bank details you entered in Registry Direct (follow the steps in the “How to get my investment returned” FAQ section). If the bank details you entered are incorrect, update the payment information and notify investmentmanager@wisemans.surf that you have updated your bank details. If the bank details are correct but you still haven’t received your funds, email investmentmanager@wisemans.surf.
What documentation can I expect to receive?
After payment is made, Registry Direct will send the Return of Capital / Redemption notices to all unitholders.
Will this have a tax implication?
There is no tax implication on the returned investment funds.
Will Wisemans still be built?
We continue to explore ways to unlock perfect surf at Wisemans and should there ever be a future of sharing the lineup, as a founding supporter, you will be given first option.
If you have further questions related to your Registry Direct account please review the following. If you still have concerns please contact registry@registrydirect.com.au and provide them with your SRN identifer.
What if I don't have a Registry Direct account?
Registry Direct, on behalf of Wisemans Surf Lodge Property Trust, sent all investors who have not registered for an account an invitation email on 10 July 2023. Search your emails for messages from noreply@registrydirect.com.au, and also check your spam folder. Click on the email link to activate and set-up your account, then follow the steps in the “How do I get my investment returned” FAQ section.
If you cannot find this email and have not previously set-up an account, email registry@registrydirect.com.au, provide them with your SRN identifier, and ask them to send you a new registration link and confirm which email they are sending this message to.
What if I don't know if I have a Registry Direct Account?
Registry Direct, on behalf of Wisemans Surf Lodge Property Trust, sent all investors who have not registered for an account an invitation email on 10 July 202. Search your emails for messages from noreply@registrydirect.com.au, and also check your spam folder.
If you received this email, click on the email link to activate and set-up your account, then follow the steps in the “How do I get my investment returned” FAQ section.
If you did not receive this email, then you have previously set-up your Registry Direct account. Go to the Registry Direct log-in page and see if you’re able to log-in. If you’ve lost your password or username, please refer to the relevant section of the FAQs.
If all attempts to log-in have failed, refer to the "What if I don't have a Registry Direct account" FAQ section.
How do I access my Registry Direct account?
If you have previously set-up your Registry Direct account before, go to the Registry Direct log-in page and sign in. You’ll need the email and password you used to set-up your account. If you’ve lost your password or username, please refer to the relevant section of the FAQs. If you don’t think you’ve set-up your Registry Direct account before, please go to the relevant section of the FAQs.
The registration link from Registry Direct has expired.
Email registry@registrydirect.com.au, provide them with your SRN identifier, and ask them to send you a new registration link.
I don't know my Registry Direct SRN identifier.
The Wisemans team has sent you an email titled: Important Update: Return of all funds on 10 July 2023. Please refer to Step 1 of the instructions within this email for your SRN identifier.
If you are unable to find the email with your SRN, please email investmentmanager@wisemans.surf.
My email address has changed / I can no longer access the email address on file.
If you can no longer access the email address you used when creating your application, email registry@registrydirect.com.au, provide them with your SRN identifier, notify them that you need to change the email address on your account (provide them that new email address) and ask them to send you a new registration link to that email.
Please also notify investmentmanager@wisemans.surf so we can update our records for your new email adddress.
I've lost my Registry Direct username.
If you remember having previously set-up your Registry Direct account before, but you don’t remember the email to use as the username, you can search your emails for any communications from Registry Direct (noreply@registrydirect.com.au). Use the email address that has received the most recent communication from Registry Direct as your username.
If you’re still having trouble, please email registry@registrydirect.com.au, provide them with your SRN identifier, and ask them to confirm the log-in email address you need to use.
I lost my Registry Direct password.
If you have previously set-up your Registry Direct account before, go to the Registry Direct log-in page. Click on the “reset password” link to reset your password.
If you’re still having trouble, please email registry@registrydirect.com.au, provide them with your SRN identifier, and notify them of your problem.
What if I need to update/check the bank details on my Registry Direct account?
Follow the steps in the “How to get my investment returned” FAQ section to log-in and find the relevant section of your investor profile. If you have entered your bank details previously, the payment section should be completed. Please check to ensure the details you previously entered are correct and still current. If you wish to change the nominated bank, you may do so by clicking ‘edit’ link within the payment section. Please be sure to confirm the details you enter are accurate and save.
What if I don't know if I've added my bank details to my Registry Direct account?
Follow the steps in the “How to get my investment returned” FAQ to log-in and find the relevant section of your investor profile.If you have entered your bank details previously, the payment section should be completed. Please check to ensure the details you previously entered are correct and still current. If you wish to change the nominated bank, you may do so by clicking ‘edit’ link within the payment section. Please be sure to confirm the details you enter are accurate and save.
If you have not entered bank details previously, the payment section will be blank. To add bank details, follow the remaining steps in the “How to get my investment returned” FAQ section.
For any unanswered questions, please email investmentmanager@wisemans.surf