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Sold - Lot 1706, Southbank, VIC

Sold – Lot 1706, Southbank, VIC

6.3%  2 Bedrooms 2 Bathrooms 1 Garage

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 investment !!

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent Statement of Information
1706 $473,600 SOLD 6.3% 5.59% $573 $29,840  CLICK HERE

Lease Details:

Current Rent: $573 per week ($29,840 per annum)
Current Return: 6.3% Gross / Net 5.59%
Increases as follows: 
March 2020- $30,735 – 6.49% gross
March 2021- Market 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)

The apartment is two bedrooms and two bathrooms with ensuite to the master bedroom. There is a seperate internal laundry and a balcony off the master bedroom. The galley style kitchen features stainless steel appliances, stainless steel splashbacks and stone benchtops

Approximate Owner Outgoings:
Council Rates: $1587.07 per annum
Water Rates: Paid by tenant
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1787.15 per annum

**Please note, due to high occupancy photos and video have been taken of an identical apartment, lot 1306
**Please note that the bathrooms and the laundry in the videos shows black bench tops, the lot we are selling (1706) has white bench tops in the bathrooms instead.

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