54/30 Palmer Street, South Townsville, QLD, 4810

SoldMay 5, 2016

54/30 Palmer Street, South Townsville, QLD, 4810

$400,000

82 m²

Apartment

•

Sold: May 5, 2016

What's around 54/30 Palmer Street

8.23% Gross Rent Return - Secure Investment

**Investors Only** Fully refurbished at a cost of almost $40,000, this spacious apartment features new carpets & paint, new kitchen joinery & appliances and full bathroom upgrade. Centrally located Quest Townsville is in the heart of the city's dining precinct and offers an array of cafes, restaurants and convention facilities as well as easy access to Magnetic Island. Townsville is the major business hub in Northern Queensland and home to the Lavarach Army Base, one of the major defence installations in Australia which supports jobs and local infrastructure. Lease Details Current Rent: $617 per week ($32,095 per annum) Next Rent Increase: 1st August 2016 Current Return: 8.23% Gross / Net 6.52% Lease Terms: Lease to 31/07/2019 plus 4 x 5 Year options Rent Increases: 4% yearly with market rent reviews every 5 years (next review due 2019) Approximate Owner Outgoings: Council Rates: $3026 per annum approx. Water Rates: Combined with council rates Body Corporate Administration Fee: $1888 per annum approx. Body Corporate Sinking Fund: $1307 per annum approx. Body Corporate Insurance: $440 per annum approx. *Please note that photos are generic and may not be of the specific apartment.