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Sold: Lot 201, Launceston, TAS

Sold: Lot 201, Launceston, TAS

60  1 Bedrooms 1 Bathrooms Year Built: 1910

LOT 201,  16 PATERSON STREET, LAUNCESTON, TASMANIA.

Quest Launceston, is a magnificently restored heritage building superbly located in the heart of Launceston city.   Next door to the restaurant precinct, city mall and tourist information centre, and only minutes to the renowned Cataract Gorge, Boags Brewery & River Cruise – its position speaks for itself!

Very spacious one bedroom apartment with large lounge and dining room,
with views of the city precinct.  Recently refurbished.

Apartment Asking Price Status Design Gross Return Weekly Rent Rent p/a
Lot 201 $312,000 SOLD 1 Bed 7.13% $428 $22,258

Current Rent: $428 per week ($22,258 per annum)
Next Rent Increase: 1st July 2017
Current Return: 7.13% Gross
Lease Terms: Lease to 30/06/2021 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)

RENT RETURN SCHEDULE:
CURRENT: 7.13%
July 2017:   7.41%
July 2018:   7.71%
July 2019:   8.02%
July 2020:   8.34%

Approximate Owner Outgoings:
Council Rates: $1681.00
Water Rates:    $580 per annum approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $700 p/a
Apartment is approximately 60m2 internal living.

 

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