Sold – Lot 7, Potts Point, NSW
A rare opportunity to secure Lot 7 in our ever popular Potts Point building – complete with a spacious outdoor courtyard on title!
(One of only five apartments in the complex to have their own private outdoor space)
In the heart of Potts Point this beautifully appointed studio, within a stunning art deco building, is within close proximity to:
Kings Cross, Oxford Street shopping precinct, Woolloomooloo Wharf
Sydney CBD, Sydney Opera House and Darling Harbour.
|Lot||Asking Price||Status||Gross Return||Net Return||Weekly Return||Annual Rent|
Current Rent: $583 per week ($30,324.73 per annum)
Next Rent Increase: 1st December 2019
Current Return: 6.27% Gross / 5.81% Net
Lease Terms: Lease to 30/11/2018 plus 4 x 5 Year options
Rent Increases: 4.5% yearly with market rent reviews every 5 years (next due 2019)
**The lease also has a 6% Ratchet Clause which means the rent cannot go up or down by more than 6% at the market rent review**
Approximate Owner Outgoings:
Council Rates: $701 per annum approx.
Water Rates: $750 per annum approx.
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1927 per annum approx.