Sold: Lot 306, Southbank, VIC
Everything is at your doorstep at this Southbank property investment – only moments from Southbank Promenade and its iconic restaurants, the Arts Centre, Melbourne Exhibition Centre, Crown Casino and Melbourne’s CBD.
Stylish, cosmopolitian Southbank is the city’s tourism and recreation heart. River boats link the vibrancy of Federation Square, Southgate and Crown. Outstanding dining and shopping opportunities blend with museums, leading galleries, an aquarium, concert halls and theatres to create one of the most diverse visitor precincts in the country.
A brilliant location, and a secure long term investment !!
Current Rent: $388 per week ($20,184 per annum)
Next Rent Increase: 1st March 2018
Current Return: 6.1% Gross / Net 5.45%
Further Gross Yields as Follows:
6.36% in 2018
6.62% in 2019
6.88% in 2020
Lease Terms: Lease to 28/02/2021 plus 2 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)
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Approximate Owner Outgoings:
Council Rates: $981 per annum
Body Corporate maintenance fund $1208 per annum
Water Rates: Paid by tenant
Body Corporate Administration fee: Paid by tenant
1 Bedroom, 1 Bathroom and Balcony facing Kavanagh Street. Approx 55m2 internal plus 2m2 balcony.