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Tamworth, NSW

Tamworth, NSW

148  3 Bedrooms 2 Bathrooms Year Built: 2000
  • 2 BEDROOM UPSTAIRS
  •   OFFICE (OPTIONAL 3RD BED) DOWNSTAIRS
  • 2 BATHROOMS
  • 2 CARPARKS ON TITLE
  • MANAGERS RESIDENCE

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.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent
41 $273,000 Avail 8.00% 6.97% $420.00 $21,852.48

** Please note yields quoted do not include upcoming refurbishments costs.

Tamworth boasts a busy year round calendar of events and festivals, locally grown food and wine, country experiences, outdoor recreation and vibrant heritage, museums and arts.

Current Rent: $420 per week  ($21,852.48 per annum)
Current Return:  8.00% gross-  6.97% NET **
INCREASES AS FOLLOWS: 

Oct 2019-  $22,726-   8.32% gross
Oct 2020-  $23,635-   8.65% gross
Oct 2021-  $24,581-   8.99% gross
Lease Terms: Lease 30/09/2022 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2022)
** Please note yields quoted do not include upcoming refurbishments costs.

Large double storey- 2 bedroom + office (3rd bed) apartment with open kitchen, meals and spacious family room and two x carparks on title.
Situated at the front of the complex the apartment currently acts as Quest Tamworth’s managers residence and downstairs office.
Complex also boasts in ground swimming pool and conference room.

*** Please note bathroom upgrades are due- scope of works will include upgrades to ensuite, separate toilet, main bathroom & laundry.  The cost will be $19,870 incl GST.

Total floor area of apartment is 148m2 including Balcony + Carpark on title.
Approximate Owner Outgoings:
Council Rates and water rates : $821 pa approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking Fund : $2000 p/a

 

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