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Sold - Lot 111, Bundoora, VIC

Sold – Lot 111, Bundoora, VIC

7.09%  2 Garage Year Built: 2012

With the Genesis Gym next door and within easy walking distance to the Uni Hill DFO Shopping Centre, Coles, local restaurants and the tram stop to the city only 800m Quest Bundoora is located in Melbourne’s growing northeast.
Approximately 20kms from the CBD. Purpose built and completed in 2012, Quest Bundoora is ideally located on University Hill in close proximity to La Trobe University, RMIT, Funfields Water Park, Bundoora Park, Bundoora Homestead, Parade College, Northern Hospital and the Northpark Private Hospital.

The conference room is approx 93m2 in size and also contains the staff kitchen and 2 car parks on title.

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent
111 $327,500 Sold 7.5% 6.48% $472 .00 $24,587

Lease Details:

Current Rent: $472 per week ($24,587 per annum)
Next Rent Increase: 27th August 2019
Rent and Return as of:
$25,570.48 / 7.8% Gross
27/8/20: $26,593.29 / 8.1% Gross
27/8/21: $27,657.03 / 8.4% Gross
27/8/22: Review
Current Return: 7.5% Gross / Net 6.48%
Lease Terms: Lease to 26/08/2022 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2022)

Approximate Owner Outgoings:
Council Rates: $1220.50 per annum
Water Rates: $1196.02 per annum
Body Corporate Administration Fee: Paid by tenant
Body Corporate Sinking Fund: $948 per annum

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