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SOLD- Lot 22, Tamworth NSW

SOLD- Lot 22, Tamworth NSW

98m2  3 Bedrooms 2 Bathrooms Year Built: 2000

Large Three bedroom, Two bathroom apartment-  total floor area 98m2  + car park on title.
Spacious living area with open dining and lounge, fully equipped kitchen and ensuite to master.  Large outdoor entertainers terrace

Tamworth Regional Council is one of the biggest councils in inland NSW, with a population of over 58,000 and a prosperous economy based on building, retail, industry, hospitality and agriculture.

Tamworth is best known as Australia’s Country Music Capital, hosting the award-winning annual Music Festival which sees the regions population double and is the largest music festival in the southern hemisphere and one of the top 10 in the world.

Just completed major refurbishments to ensuite and main bathroom
Kitchens benchtops and appliances upgrades were also completed in 2015

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent Statement of Information
22 $320,101 SOLD 7.09% 6.05% $437.00 ($22,727 p/a

Lease Details:

Current Rent: $437 per week -$22,727 pa
Current Return: Return:  7.33% Gross –  6.19%- Net
Oct 2020 + 4%=  $23,636 pa-  7.62%
Oct 2021 + 4%=  $24,581 pa-  7.92%

Lease Terms:   Lease to  30/09/ 2022 with 6 x 5 yr options
Rent Reviews and Increases:
4% yearly-  with market rent reviews every 5 years (next due June 2022)

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