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Lot 404, Launceston TAS

Lot 404, Launceston TAS

7.25%  101m2  2 Bedrooms 2 Bathrooms

Large 2 bedroom, 2 bathroom twin key apartment, approx 101m2 internal living with period features and stunning windows providing light filled rooms with picturesque views and aspects.
Oversized bedrooms with king bedding, large family room and functional main kitchen and kitchenette to the studio.

In the heart of Launceston, within an iconic building, the apartment provides a high yielding investment to astute investors!

STUNNING VIEWS FROM ALL ASPECTS!!
Quest Launceston, is a magnificently restored building superbly located
in the heart of the city.
Launceston is Tasmania’s second major city and has become the new “hot Spot” for investors. Known for its vibrant food
and wine, culture and nature, the whole region is packed with
city and country charm, gorgeous buildings, excellent food and wine and beautiful scenic highlights.
Next door to the restaurant precinct & city mall and only minutes to
the renowned Cataract Gorge, Boags Brewery & River Cruise its
position speaks for itself!

Lease Details
Current Rent: $696.00 per week (36,236.79 per annum)
Next Rent Increase: 1st July 2019
Current Return: 7.25% Gross- 6.31% NET
Lease Terms: Lease to 30/06/2021 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years
(next due 2021)
SET RENT INCREASES AS BELOW:
July 2019 : $724 per week- 7.54%
July 2020: $ 753 per week- 7.84%
July 2021: Market Review

Approximate Owner Outgoings:
Council Rates: $2700.00 p/a
Water Rates: $750 p/a
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1250 p/a
Apartment is approximately 101m2 internal living

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