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|
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