ENTRY LEVEL- INVESTORS-UNDER LONG TERM LEASE WITH QUEST

1 BEDROOM- 1 BATH + CARPARK AND BALCONY- ENTRY LEVEL<br/><br/>Quest Portland is situated on the south-west coast of Victoria, 1 hr & 15 min west of Warrnambool. A town rich in history, displaying an abundance of 19th Century Bluestone buildings and boasting over 200 properties classified by the National Trust.<br/><br/>A generous one-bedroom apartment with bright open plan consisting of lounge/ dining room, separate main bedroom and bathroom. <br/>The apartment has an outdoor balcony and carpark on title. <br/><br/>* Carpet, paint and window furnishings updated in 2019<br/>* Spacious living room, with outdoor entertaining area.<br/><br/>Allocated parking on title- with long first term of lease until 2033<br/><br/>Great addition to the portfolio at entry level pricing.<br/><br/>***** PLEASE NOTE****<br/>IMAGES ATTACHED ARE GENERIC AND MAY NOT BE OF EXACT LOT. <br/>REFURBISHMENTS WILL BE DUE THIS TERM, PLEASE CONTACT ME FOR FURTHER INFORMATION.<br/><br/>Lease Details:<br/>Current Rent (as of July) : $258 per week -$13,464 pa <br/>Return: 7.96% Gross - 5.34%- Net<br/><br/>Rental Increases as follows: <br/>July 2024 + 4% = $14,002 = 8.27% gross<br/>July 2025 + 4% = $14,562 = 8.60% gross<br/>July 2026 + 4%= $15,145 = 8.95% gross<br/>July 2027 + 4% =$15,750 = 9.31% gross<br/><br/>July 2028- Market Review<br/>July 2029 + 4%<br/>July 2030 + 4%<br/>July 2031 + 4%<br/>July 2032 + 4%<br/>July 2033 Market Review<br/><br/>Lease to 30/06/2033 plus 3 x 5 Year options<br/>Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2028) <br/><br/>**Net returns do not include future capital works or additional expenses associated with property ownership<br/><br/>Approximate Owner Outgoings:<br/><br/>Council Rates: $764.00<br/>Water Rates: $ 850.00<br/>Body Corporate Administration Fee: Paid by tenant<br/>Body Corporate Sinking Fund: $2811 per annum<br/><br/>The information provided herein, and any further information supplied, is provided by way of example only. It is intended as general information only and is not to be construed as investment, legal or taxation advice. Potential investors are encouraged to seek the advice of their legal, financial and other advisors prior to investing, so as to determine whether this type of investment is suitable for their specific needs. <br/>The information contained has been provided by third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.<br/><br/>PLEASE PHONE MANDY FOUNTAIN FOR MORE INFORMATION ON 0408 10 30 10 <br/>