Located in the renowned Quest Apartments complex, this spacious two-bedroom apartment presents an outstanding investment opportunity in one of Newcastle's most sought-after corporate accommodation hubs. Favoured by business travellers and executives, The Quest is a well-established name, offering investors stable returns and peace of mind.
This particular apartment delivers a strong rental income of $31,017 per annum (approx. $2,584.75 per month) with a secure lease currently in place for the next 5 years, along with three additional 5-year renewal options. The lease includes a 3% annual increase, further strengthening its long-term yield potential — currently offering a return of nearly 5%.
A key advantage of this investment is its low outgoing costs. As the property owner, you are only responsible for the capital works component of the strata and the council rates. All other outgoings — including administrative strata fees, water usage, gas, electricity, and the remaining council rates — are covered by the tenant, The Quest.
Apartment Features:
- Situated on the fifth floor
- Light-filled central living space with split system air-conditioning and expansive windows
- Large main bedroom with private balcony and impressive views of the city skyline
- Fully equipped kitchen with electric cooktop and oven, plus generous storage
- Separate, full-sized laundry — a rarity in modern apartments
- Access to building amenities including an indoor pool, spa, and gym
Financial Snapshot:
- Rental Income: $31,017 p.a.
- Annual Rental Increase: 3%
- Lease Term: 5 years + 3 x 5-year renewal options
- Council Rates: Approx. $1,597 p.a.
- Strata Rates: Approx. $450 p.q
- Minimal owner expenses and consistent income stream
Disclaimer:
All information provided by Wilton Lemke Stewart in the marketing of a property for sale or lease has been sourced from various third-party outlets that we deem reliable. Nonetheless, Wilton Lemke Stewart cannot ensure its absolute accuracy, and we bear no responsibility and disclaim all liability for any errors, omissions, inaccuracies, or misstatements in the information provided. Prospective buyers and tenants are encouraged to conduct their own due diligence and rely on their own investigations. All images, measurements, diagrams, renderings, and data are indicative and for illustrative purposes only, subject to potential changes.
