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Sold - Lot 32, Newcastle, NSW

Sold – Lot 32, Newcastle, NSW

2 Bedrooms 2 Bathrooms 1 Garage

A unique opportunity to secure a two bedroom apartment in the heart of Newcastle’s CBD.
Within a short walk to the waterfront boardwalk of Honeysuckle and Marketown Shopping Centre, located on the 5th floor.
**Recent refurbishment works include**
– New vanities
– New Shower screens
– New Mirrors
– Replace all lights to LED
– New Kitchen vinyl flooring
– Painting Touch ups
A sought after, “hot spot” for investors, Newcastle is a vibrant and progressive city, surrounded by spectacular beaches and harbours.
With restaurants, bars and outdoor cafes at your doorstep,together with a thriving business economy and strong tourism
market, its one not to be missed.

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent
32 $358,600 SOLD 6.89% 6.48% $475 $24,728

Lease Details:

Rent as of 12/6/19: $475 per week ($24,728 per annum)
Next Rent Increase: 12 June 2021
Current Return: 6.89% Gross / Net 6.48%
Lease Terms: Lease to 11/06/2020 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)

Approximate Owner Outgoings:
Council Rates: $602 pa *Quest Newcastle pays other half
Water Rates: Paid by tenant
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $885.20 p/a

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