INVESTORS! A unique opportunity to secure a large 1-bedroom apartment 1.7km from the heart of Newcastle CBD.
Located within a short walk of the Honeysuckle waterfront boardwalk and Marketown Shopping Centre, Newcastle is a sought-after destination for investors, offering a vibrant and progressive city lifestyle surrounded by spectacular beaches and harbours.
With restaurants, bars and outdoor cafés nearby, combined with a thriving business economy and strong tourism market, this is an investment opportunity not to be missed.
The apartment has recently undergone a full bathroom refurbishment and features a brand-new oven, hotplate, dishwasher and rangehood. Offering a spacious 77m² of internal space and balcony and 88m² of total area including the carpark, the property offers investors a sizeable entry to a sought after Newcastle market.
Under long term lease, the property offers secure income, with rents paid regardless of occupancy, scheduled rental increases to 2030 and no management, letting fees, vacancy rates or costly owners corporation administration levies.
INVESTMENT DETAILS
Configuration: 1 Bed / 1 Bath
Internal Area: 77m²
Total Area: 88m² including carpark
Balcony: 1
Carpark: Carpark on title
Bathroom: Fully refurbished
Kitchen Appliances: Brand-new oven, hotplate, dishwasher and rangehood
LEASE DETAILS
Price: $459,900
Current Rent: $494 per week | $25,792 per annum
Current Gross Return: 5.60%
Current Net Return: 4.95%
Rent Increases as follows:
June 2027: +4% increase = $26,823.68 p.a. 5.82% Gross Return
June 2028: +4% increase = $27,896.63 p.a. 6.07% Gross Return
June 2029: +4% increase = $29,012.50 p.a. 6.31% Gross Return
Lease: June 2030 with 4 x 5-year options remaining
APPROXIMATE OWNER OUTGOINGS
Council Rates: Approx. $1,600 p.a.
Strata Sinking Fund / Maintenance Fund: Approx. $1,400 p.a.
Paid by Hotel: Water Rates & Strata Administration Levies
A strong opportunity for investors seeking a well-located serviced apartment with a long-term lease, scheduled rental growth, fully refurbished bathroom, brand-new kitchen appliances and low owner outgoings.
For more information, please contact Mandy Fountain 0408 10 30 10.
Mandy Fountain specializes in Serviced Apartment Sales across Australia, with a sound understanding of lease structures and tenant and owner obligations.
DISCLAIMER:
The information contained in this brochure has been provided by the vendor and other sources and is believed to be reliable; however, it has not been independently verified. It is provided for general information purposes only and does not constitute financial, investment, legal or taxation advice.
Prospective purchasers should conduct their own independent enquiries and due diligence and obtain appropriate professional advice before making any investment decision. No warranty or representation is made as to the accuracy or completeness of the information, and no liability is accepted for any errors, omissions or reliance placed upon it.
