We own a place in VIC that seems to work like that. OC pays for driveway and tree-trimming in between properties, and issues with sewerage. Shared walls (of which there are very few) seem to be a shared cost between the owners that share them. Roof repairs are covered by individual owners. I don’t know if this has evolved, or if it’s how the strata plan is set up. We’re about to embark on a garage door replacement which is a mix of singles and doubles so I’m not sure how costs will be shared.
In your case, it sounds like the strata plan is pretty clear. Your strata fees should be fairly low. The main issue I can see is what you do if someone fails to maintain their part of the property and causes damage to another property or negatively affects the amenity or value of other properties. That can happen in any other suburban street but in strata you have a few more levers you can pull and a Tribunal to help.