Hotel pay OC Admin levies, and water rates
$22,086 with 5% increases until 2030.
Entry-level investment opportunity offering a high yield, Quest Bendigo is conveniently located approximately 5km from the Bendigo CBD.
The hotel tenant pays water rates, owners corporation administration levies, and insurance, with no management or letting fees payable by the owner.
Bendigo remains an attractive and resilient investment destination with strong demand for both short- and long-term accommodation. With new franchise management in place and a range of nearby attractions including Rosalind Park, the Golden Dragon Museum, the View Street Arts Precinct, Central Deborah Gold Mine tours, Bendigo Stadium and the Prince of Wales Showgrounds, the property benefits from strong tourism and corporate demand.
Investors are secured by a long-term lease with scheduled 5% annual increases through to 2030, with further options available to extend the lease.
Lease Details:
Current Rent: $424 per week - $22,086 pa
Current Return: 9.01% Gross - 7.50%- Net
Scheduled Rent Increases as follows:
March 2027 + 5%- $23,190 pa- 9.46% gross
March 2028 + 5%- $24,349 pa- 9.93% gross
March 2029 + 5%- $25,567 pa- 10.43% gross
March 2030 - Market Review.
Lease Terms: Lease to 29/03/2030 with 4 x 5 yr options
Rent Reviews and Increases:
5% increases- market rent reviews every 5 years (next due March 2030)
**Net returns do not include future capital works or additional government taxes associated with property ownership
Featuring two bedrooms, including a master suite with a full ensuite, this apartment offers a spacious open-plan layout comprising a fully equipped galley-style kitchen, lounge, and dining area. French doors open onto a private outdoor entertainers balcony overlooking the swimming pool.
Positioned on the ground floor with no stairs, the property also includes laundry facilities, split-system heating and cooling throughout, and a secure car park on title.
No management or letting fees
Owners corporation administrative levies and building insurance paid by the hotel
Water Rates and usage paid by the hotel tenant
Please call for capital refurbishment works scheduled in lease this term
Approximate Owner Outgoings:
Council Rates : $2305 per annum
Water Rates and usage: Paid by Hotel Tenant
Body Corporate Administration fee: Paid by Hotel Tenant
Body Corporate Sinking fund: $1384.00 per annum
Please note these outgoings are current and in accordance with the contract of sale.
Disclaimer. The information provided herein, and any further information supplied, is provided by way of example only. It is intended as general information only and is not to be construed as investment, legal or taxation advice. Potential investors are encouraged to seek the advice of their legal, financial and other advisors prior to investing, so as to determine whether this type of investment is suitable for their specific needs.
The information contained has been provided to me by the vendors or 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.
