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Sold: Lot 101, Quest Southbank, VIC

Sold: Lot 101, Quest Southbank, VIC

6%  1 Bedrooms 1 Bathrooms

Everything is at your doorstep – only moments from Southbank Promenade and its iconic restaurants, the Arts Centre, Melbourne Exhibition Centre, Crown Casino and Melbourne’s CBD.
Stylish, cosmopolitian Southbank is the city’s tourism and recreation heart. River boats link the vibrancy of Federation Square, Southgate  and Crown. Outstanding dining and shopping opportunities blend with museums, leading galleries, an aquarium, concert halls and theatres to create one of the most diverse visitor precincts in the country.
A brilliant location, and a secure long term Southbank Investment!!

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
Lot 101 $326,000 Sold 6% 5.3% $376 $19,587

 Lease Details:

Current Rent: $376 per week ($19,587 per annum)
Next Rent Increase: 1st March 2018
Current Return: 6% Gross / Net 5.3%
Rental Yields After 3% Increases:
1st March 2018 – 6.18%
1st March 2019 – 6.37%
1st March 2020 – 6.56%
1st March 2021- Rent Review
Lease Terms: Lease to 28/02/2021 plus 3 x 5 Year options
Rent Increases: 3% yearly with market rent reviews every 5 years (next due 2021)

 

Approximate Owner Outgoings:

Council Rates: $995 per annum approx.
Water Rates: Paid by tenant
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1208 per annum approx.

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