Wollongong, NSW- SOLD
Quest Wollongong is centrally located in the heart of the CBD, and an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, Wollongong’s harbour and the beach.
Large Two bedroom, Two bathroom apartment- total floor area 94m2 including carpark.
Spacious living area with open dining and lounge, fully equipped kitchen and ensuite to master.
There is a secure basement carpark on title.
UNDER LONG TERM LEASE WITH QUEST APARTMENT HOTELS: Details as follows:
|Lot||Asking Price||status||Gross Return||Net Return||Weekly Return||Annual Rent||Statement of Information|
|10||$400,000||SOLD||6.82%||6.00% **||$525.00||($27,319 p/a|
Current Rent: $525 per week -$27,319 pa
Current Return: Return: 6.82 % Gross – 6.00%- Net
*** Please note gross and net yields do not include any future upgrade works***
Lease Terms: Lease to 14/06/ 2020 with 4 x 5 yr options
Rent Reviews and Increases:
4% yearly- with market rent reviews every 5 years (next due June 2020
*** PLEASE NOTE ****
The property is due for upcoming refurbishments, the full scope of works has not yet been determined.
• Items will include upgrade works to both main bathroom and ensuite.
• Kitchen upgrades are yet to be determined but may require upgrades 2021- 2027
Carpet and Paint refurbishment was completed in 2017
Please call me to discuss the refurbishments in more detail.
With the WIN Sports & Entertainment Complex less than a 1km walk and a thriving business economy this two bedroom apartment with secure basement car park on title will attract investors wanting to secure a solid New South Wales investment.
Approximate Owner Outgoings:
Council Rates: $1302 per annum
Water Rates: $710 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1276 per annum