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Sold: Lot 205, Geelong, VIC

Sold: Lot 205, Geelong, VIC

7%  82  2 Bedrooms 2 Bathrooms Year Built: 2005

Quest Geelong is ideally located near the vibrant waterfront restaurant precinct and central business hub.  Its conveniently accessed by the  freeway from Melbourne, approximately 70kms away.

Geelong is Victoria’s second largest city, located on Corio Bay, and within a short drive from popular beach-front communities on the Bellarine Peninsula and the gateway to the famous Great Ocean Road, which begins just south of Geelong.
Quest Geelong won Serviced Apartments Australian Franchise of the Year 2012.

Apartment Asking Price Status Design Gross Return Weekly Rent Rent p/a
Lot 205 $412,800 SOLD 2 Bedroom 7% $555 $28, 899

Current Rent: $555 per week ($28, 899 per annum)
Next Rent Increase: 1st November 2017
Current Return: 7.0% Gross rental return
Lease Terms: Lease to 30/10/2020 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)

Approximate Owner Outgoings:
Council Rates: $2303 pa
Water Rates: $780 pa approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1334 p/a

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