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Sold: Lot 52, Newcastle, NSW

Sold: Lot 52, Newcastle, NSW

3 Bedrooms 2 Bathrooms 1 Garage

Quest Newcastle Property Investment

A unique opportunity to secure a rare 3 bedroom, 2 bathroom apartment in the heart of Newcastle, NSW.
Located on the 7th floor, and boasting a tremendous floor area of 117m2- the apartment provides a spacious family room, dining area, large kitchen and balcony.
A sought after, “hot spot” for investors, Newcastle is a vibrant and progressive city, surrounded by spectacular beaches and harbors.
With restaurants, bars and outdoor cafes at your doorstep,together with a thriving business economy and strong tourism
market, its one not to be missed.

Apartment Asking Price Status Type Gross Return Weekly Rent Annual Rent
Lot 52 $575,000 SOLD 3 BR 6.32% $699 $36,364

Lease Details:

Current Rent: $699 per week ($36,364 per annum)
Next Rent Increase: 12th December 2016
Current Return: 6.32% Gross / Net 5.72%
Return after August Increase: 6.58% Gross / 5.98% Net
Lease Terms: Lease to 11/12/2017 plus 2 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2017)

Approximate Owner Outgoings:

Council Rates: $1001 per annum
Water Rates: $780 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1670 per annum

Location

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