FULLY RENOVATED - JUST COMPLETED KITCHEN & BATHROOM | LONG-TERM LEASE WITH 4% INCREASES TO 2030.
Quest Wollongong is centrally located in the CBD within easy walking distance of a vibrant mix of restaurants, cafés, cultural attractions, the main shopping precinct, Wollongong Harbour and beautiful beaches.
Home to the University of Wollongong and a strong local business and industrial economy, Wollongong attracts both business and leisure guests, supporting the appeal of this well-positioned serviced apartment investment.
The apartment has just completed a major renovation to the kitchen and bathroom, with all-new appliances, offering a fresh and modern investment opportunity.
LEASE DETAILS
Price: $415,800
Current Rent: $24,440 p/a - $470 per week
Return: 5.87% gross and 5% net
Rent Increases as follows:
June 2027: + 4% increase = $25,417 p.a. 6.11% Gross Return
June 2028: +4% increase = $26,434 p.a. 6.35% Gross Return
June 2029: +4% increase = $27,491 p.a. 6.61% Gross Return
June 2030: Market Review
Lease: to June 2030 with 7 x 5-year options remaining
RATES & OUTGOINGS
Council Rates: $1,100 p.a.
Water Rates: $800 p.a.
Capital Works Fund: $1,750 p.a.
Paid by Tenant (Quest): Strata Administration Fee
Offering 51m² of internal living space, one bedroom with newly fit out kitchen, bathroom and laundry. With secure basement carpark, and fixed rental with no management, letting fees or vacancy down time. Entry level investing with refurbishments complete.
Internal Living: 51m²
Carpark: Secure carpark
Kitchen: Major renovation completed
Bathroom: Major renovation completed
Appliances: All new
a long-term lease, scheduled rental increases and a prime CBD location close to Wollongong's dining, shopping, university, harbour and beaches.
For more information, please contact Mandy Fountain 0408 10 30 10.
Mandy Fountain specialises 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.
