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Launceston, TAS

Launceston, TAS

59m2  1 Bedrooms 1 Bathrooms

Quest Launceston, is a magnificently restored heritage building superbly located in the heart of the CBD with easy access to the city Mall, tourist centre, dining options, boat harbour and stunning Cataract Gorge..

A spacious one bedroom apartment, boasting 59 sqm of living, features a large lounge and dining area, fully equipped kitchen, and separate bedroom and bathroom and built in laundry.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent
102 $350,000 Avail 6.87% 5.87% $462.00 $24,073 p/a

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 Increase schedule:
July 2019 – $25,036 pa (7.15% gross)
July 2020 – $26,037 pa (7.43% gross)

Recently upgraded with new internal painting and carpets, updated bathroom cabinet and grouting works, all paid for by the current owner. This is a long standing and successful Quest location which offers investors a hassle free rental income in a quality location.

Approximate Owner Outgoings:
Council Rates: $2080 pa
Water Rates: $700 pa
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $730 pa

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