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Lot 6, Townsville, QLD

Lot 6, Townsville, QLD

7.42%  2 Bedrooms 2 Bathrooms 1 Garage

Fully refurbished at a cost of almost $40,000 in 2015, this spacious apartment features new carpets & paint, new kitchen joinery , appliances and full upgrade to both bathrooms.
The apartment is a dual key configuration featuring 2 bedrooms, 2 bathrooms, and car park on title.
Centrally located Quest Townsville is in the heart of the city’s dining precinct and offers an array of award winning 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
6(Apt 111&112) $300,000 Avail 7.42% 4.9% $428.00 $22,267 pa

Lease Details:

Current Rent: $428 per week ($22,267 p/a)
Current Return: 7.42% Gross/  4.9% Net
Lease Terms: Lease to 31/07/2024 with 3 x 5 Year options..
Rent Increases: 4% with a market review at the end of every 5th year
Rent Increases & Gross Yields To Next Review:
1/08/2019:
$23,158 / 7.7% Gross
1/08/2020: $24,085 / 8.0% Gross
1/08/2021: $25,048 / 8.3% Gross
1/08/2022: $26,050 / 8.6% Gross
1/08/2023: $27,092 / 9.0% Gross
1/08/2024: MARKET RENT REVIEW

Approximate Owner Outgoings:
Council and Water Rates: $3056 p/a
Body Corporate Administration & Sinking Fund: $4493 p/a

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