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INVESTORS TAKE NOTE

Description

Location, location, location. Outstanding views. Units in this block are rarely for sale. If you have been looking for a brilliant investment, this is the one for you. Returns in excess of 8.6% and increasing! Leased through the onsite Manager (Quest Townsville). Manager pays: Body Corporate Administration fee. Owner pays: Council Rates and Sinking Fund costs.
Fully refurbished in 2015, this spacious duel occupancy apartment features new carpets & paint, new kitchen joinery , appliances and full upgrade to both bathrooms.
The apartment is a dual key configuration featuring 2 bedrooms, 2 bathrooms, and car park on title. THis end unit has extra big patio’s and rear views down Palmer street as well as views over the marina. There is also a fantastic pool area to enjoy on the hot days.
Centrally located Quest Townsville is in the heart of the city’s dining precinct and offers an array of award winning 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 Lavarack Army Base, one of the major defence installations in Australia which supports jobs and local infrastructure.

Lease Details:

Current Rent: $428 per week ($22,267 p/a)
Current Return: 7.42% Gross/ 4.9% Net
Lease Terms: Lease to 31/07/2024 with 3 x 5 Year options..
Rent Increases: 4% with a market review at the end of every 5th year
Rent Increases & Gross Yields To Next Review:
1/08/2019: $23,158 / 7.7% Gross
1/08/2020: $24,085 / 8.0% Gross
1/08/2021: $25,048 / 8.3% Gross
1/08/2022: $26,050 / 8.6% Gross
1/08/2023: $27,092 / 9.0% Gross
1/08/2024: MARKET RENT REVIEW

Approximate Owner Outgoings:
Council and Water Rates: $3056 p/a
Body Corporate Administration & Sinking Fund: $4493 p/a

Property Features
  • Unit
  • 2 bed
  • 2 bath
  • 2 Parking Spaces
  • Floor Area is 116 m²
  • 2 Toilet
  • 2 Garage

9/30-34 Palmer Street, SOUTH TOWNSVILLE QLD 4810

222
$345,000

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Listing Agent

David Bishop

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