Selling the Ridge Resort

• At the 2025 AGM ( June 25), owners overwhelmingly asked for an investigation into selling the Ridge Resort.
• The responsibility for doing that lies with the BC Committee who have just recently ( March 26) set up a Committee to undertake this work.
• Some members of the OSG have been invited onto this Committee to work alongside BCC Members.
• The OSG is pleased to able to assist the BCC in investigating this motion
• As the initiative has only formally begun as of March this year it is anticipated that there will only be time to provide a preliminary report for consideration at the AGM.
• The OSG Research, produced and distributed over the past few months, should greatly aid the Committee in its work.

WHAT OWNERS ARE SAYING

A 2026 survey of non-Classic timeshare owners shows:

• 77% of respondents want to sell

• 36% would sell in 2026

• 30% would sell in 2027–28

Key drivers are rising levies, ageing owners, reduced usage, and no resale market.

Cancelling the Unit Plan: The First Step for Change.

Under the Unit Titles Act

Any change to the plan of the resort requires an application to the High Court to cancel the Unit Plan. This must happen if part, or all, of the resort is sold. This also is required if there is any major change to the ownership structure eg. changing from a body corporate to a limited liability company, or sub-dividing the timeshare units from the non-timeshare units.

This requires:

• a Special Resolution at a General Meeting

• with at least 75% of owners who vote supporting cancellation.

OWNERSHIP STRUCTURE.

The Ridge has four ownership groups:

• Timeshare owners (non-Classic)

• Classic entities timeshare

• Non-timeshare (private ) owners

• Future Development Units

What this means in practice:

• Without support from all owner groups, a motion for sale cannot pass.
• Given the mixed nature of ownership at the Ridge Resort—timeshare owners with differing objectives, non-timeshare owners who will want to retain their property and an owner of future development units achieving this 75% threshold will require a carefully crafted proposal.

DETAILED INFORMATION HERE.