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Sold - Lot 22, Trinity House, Hobart, TAS

Sold – Lot 22, Trinity House, Hobart, TAS

2 Bedrooms 1 Bathrooms

Quest Trinity House is nestled in the quaint suburb of Glebe, only a moments walk to Hobarts CBD, Waterfront and Constitution Dock, Salamanca Place, North Hobart restaurant precinct, sporting venues .
A popular destination for tourists with crowds flocking to Salamanca market each Saturday along with a number of developments and infrastructure upgrades to the city and surrounds the property boasts both leisure and corporate occupancy.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent
22 $341,000 Sold 6.76%** 5.98%** $443.00** $23,077 p/a**

**Based on the rental amount as from the 1/2/2019

Lease Details:

Rent as of 1/2/2019: $443 per week ($23,077 per annum)
Next Rent Increase: February 20120
Return as of 1/2/2018: 6.76 % Gross
Feb 2020-  $24,001 –  7.04% Gross
Feb 2021-  Market Review
Lease Terms: Lease to February 2021 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)

Approximate Owner Outgoings:
Council Rates: $1348 p/a approx
Water Rates:$938 p/a approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund:  $380 p/a approx
TAS Land Tax thresholds will apply please see the link for more information: State Revenue Office Tasmania

Please note while the kitchen, paint and carpet have been upgraded this term, the bathrooms still remain original and could be due for an upgrade at the next term (starting 2021) as well as anything else that is deemed reasonably required (refer to clause 6.2 of the lease surrounding refurbishment works).

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