Own a slice of South Townsville's most vibrant address. Set on Palmer Street, the city's famed restaurant and riverside precinct, this apartment delivers effortless lifestyle appeal with the rare certainty of a long-term lease already in place, guaranteeing your income from day one. Think set-and-forget investing: steady cash flow, minimal vacancy risk, and professionally managed tenancies so your returns don't hinge on the next inspection. With Townsville's inner-city entertainment and lifestyle continuing to grow year-on-year, Palmer Street is becoming a regular favourite for professionals, health and defence personnel, and visiting corporates and this building with its modern, well-maintained facilities is high on the list when it comes to planning a "stay-cay". At this price point, this is a worry-free investment with a long-term income stream guaranteed and you can keep pace with Townsville's surging property market.
Current rental periods/lease amounts (fully copy of lease terms available on request):
- 1st August 2025 to 31st July 2026 - $28,842.32
- 1st August 2026 to 31st July 2027 - $29,996.01
- 1st August 2027 to 31st July 2028 - $31,195.85
- 1st August 2028 to 31st July 2029 - $32,443.68
- Plus, Two (2) further terms of five (5) years duration and one (1) further term of seven (7) years and four (4) months
- These are guaranteed income streams regardless of vacancy and do not have any property management fee associated with it
- Body Corp. fees: Admin: $3,976pa; Sinking: $3,852.80pa; Insurance: $2,938.10pa; Total: $10,766.90pa approx.
- Council rates- $3,799.92pa
The Property
- Dual-key apartment with a guaranteed income stream with options out to 2046
- One bedroom apartment with bathroom, laundry, kitchenette and lounge room on one side
- Studio apartment with bathroom, storage, and small kitchenette connected to the apartment side via lockable interconnecting door
- Corner apartment in the building which gives the one-bedroom apartment side a bonus wraparound balcony
- Located up on level 7 with a NE aspect from the balcony enjoying bay and marina views
The Location
- Extremely desirable location in the heart of the Palmer Street dining and entertainment precinct
- Walking distance to the CBD
- Walking distance to Queensland Country Bank Stadium
- Moments to quality junior and senior schools
- A short drive to The Strand
- Short drive to the Gregory Street cafe and dining precinct
- Please note due to high occupancy rate the marketing photos are of the apartment located exactly one floor above in the same position of the building due to the actual apartment for sale being occupied at the time.
