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Sold - Lot 35, Townsville, QLD

Sold – Lot 35, Townsville, QLD

8.3%  2 Bedrooms 2 Bathrooms 1 Garage

Fully refurbished in 2015 at a cost of almost $40,000, this spacious apartment features new carpets & paint, new kitchen joinery & appliances and full bathroom upgrade.
Centrally located Quest Townsville is in the heart of the city’s dining precinct and offers an array of cafes, restaurants and convention facilities as well as easy access to Magnetic Island.
Townsville is the major business hub in Northern Queensland and home to the Lavarach Army Base, one of the major defence installations in Australia which supports jobs and local infrastructure.

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent
35 (Apt 505 & 506) $410,000 Sold 8.3% 6.6% $656 $34,121

Lease Details

Current Rent: $656 per week ($34,161 per annum)
Next Rent Increase: 1st August 2018
Current Return: 8.3% Gross / 6.6% Net
Return as of 1/08/2019: 8.6% Gross / 6.9% Net
Lease Terms: Lease to 31/07/2019 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2019)

Approximate Owner Outgoings:
Council Rates: $3055.20 per annum approx
Water Rates: Included in council rates
Body Corporate Administration fee: $2208 per annum approx
Body Corporate Sinking fund : $1772 per annum approx

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