Strong Investment with 6% Return

This property is located in The Quest Apartments, Newcastle West. The Quest is iconic to Newcastle and is one of the most popular hubs for business executives visiting the city.

This particular property offers an attractive return of $36,133 pa (or $3,011 per month) with 1 increase of 4% still to come in December 2021. The lease agreement is in place with The Quest until December 2022 with 2 x 5 year options to renew. The property is boosted by the fact that you as the owner only pay a portion of the outgoings. You are responsible for the capital works fees and council rates. The tenant (The Quest) pays for the admin fees, water rates, electricity and gas. This gives you a potential yield of just over 6%.

The property itself is quite spacious and located on the 7th floor, it has a central lounge room with split system air conditioning and large windows. The building facilities include indoor pool, spa and gym located on the ground floor.

North facing and filled with light throughout, all 3 bedrooms are of a generous size and have floor to ceiling wardrobes installed. The large main has its own private ensuite and sweeping views of the city skyline. The kitchen is fully equipped with a electric cooktop, electric oven and ample storage throughout. The apartment also has a proper laundry (not a cupboard laundry), which is rare for apartments in today's world.

- This particular property offers an attractive return of $36,133 pa (or $3,011 per month).
- 4% increase on rent in the 3rd, 4th & 5th year of the lease.
- Current lease in place from December 2017 - December 2022.
- 2 x 5 year options to renew.
- Council Rates: $1,588 pa (Paid by the owner).
- Water Rates: $635 pa (Paid by The Quest).
- Strata Rates: $1,070.95 pq (Admin fund of $830.45 paid by The Quest)(Capital Works of $240.50 paid the owner).

Disclaimer: Whilst every care is taken in the preparation of the information contained in this marketing, Century 21 Novocastrian will not be held liable for any errors in typing or information. All interested parties should rely upon their own enquiries in order to determine whether or not this information is in fact accurate. Photos have been edited for marketing.