8% RETURN - POSITIONED ON THE FRONT OF THE BUILDING...
Situated on the fifth floor and on the preferred Northern side on the front of the building, this is an oversized Studio apartment of approximately 45 square meters with open plan kitchen, dining and lounge area. In addition to this, there is a large bedroom area with mirrored robes and compact bathroom .The property offers a top floor gym and sauna, good security, a quality restaurant and bar situated just off the lobby, and a fantastic Melbourne location near the heart of the legal precinct.
The apartment is leased to Panache Hotel Group (PHG) with the lease running until March 2029, with four further 5-year options thereafter.
NB THIS IS FOR THE ASTUTE INVESTOR ONLY – NOT FOR OWNER OCCUPATION.
IMPORTANT INFORMATION:
RENT: $25,560 pa (Effective April 2024)
($490 per week approx)
INCREASE: Annual 3% between Market Reviews.
(Market Reviews every 2.5 years)
RETURN: 8:00% Gross
(6.8% 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: $1,650 pa
Council Rates: $1,135 pa
Water Rates: $984 pa
Inspection is by private appointment.
For further details please contact:
Nick Walters of Kingsford Property – 0438 557 885
[email protected]
Disclaimer: 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. This information has been provided by third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.