IDEAL PASSIVE INCOME STREAM - HUGE 7.8% RETURN

Located on the tenth floor with an Easterly orientation, this apartment showcases an open-plan kitchen, dining, and living space, along with a spacious bedroom featuring built-in robes and a bathroom equipped with a separate bath and shower. The apartment also Includes a washer/dryer combo unit, 65 inch smart TV, full size fridge, and updated bedding configuration. New smart locks have been fitted along with high speed Internet with separate access points.

This property boasts amenities such as a top-floor gym and sauna, excellent security measures, a quality restaurant and bar conveniently located adjacent to the lobby, and an enviable Melbourne location close to the legal precinct, making it an appealing investment option.

Currently leased to PHG on a long-term agreement, this investment opportunity merits serious consideration for your property portfolio.

Tenanted until March 2029, enjoy the benefits of a secure lease with this oversized executive studio serviced apartment of approximately 50sqm.

NB.THIS IS FOR THE ASTUTE INVESTOR ONLY – NOT FOR OWNER OCCUPATION

IMPORTANT INFORMATION:

RENT: $23,236 pa (Effective April 2024)
($445 per week approx)

INCREASE: Annual 3% between Market Reviews.
(Market Reviews every 2.5 years)

RETURN: 7.8% Gross
(6.7% Nett)

LEASE: Until March 2029

OPTIONS: Four Further 5-Year Options

TENANT (PHG) PAYS:
Owners Corporation Admin
Insurance
General maintenance

ESTIMATED OWNER’S OUTGOINGS:
O C Maintenance Fee: $1,000 pa
Council Rates: $1,203 pa
Water Rates: $1,071 pa

Inspection is by private appointment.

For further details please contact:
Nick Walters of Kingsford Property – 0438 557 885
[email protected]

Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent.