Description

Investors $406 pw with rental increases and Long Term Tenant Quest Maitland is situated 38 mins from Newcastle Airport and an easy commute to Newcastle's business precincts.

Located at the gateway to the Hunter Valley and conveniently positioned in Maitland CBD it is only a short stroll to Maitland main shopping, eating and business precinct, as well as the art gallery and cinema.

A region with a rich history and emerging food scene it boasts a thriving event filled calendar.

The beautiful city makes for a scenic weekend escape or hub for many major businesses within close proximity to Newcastle Airport.

Under long term lease with Quest Apartment Hotels-

Lease Details:

Current Rent:

$406 per week -

$21,117 pa Current Return:

7.06 % Gross /

6.39% NET

Increases as follows:

March 2025 + 4% =

$21,961 pa=

7.03% gross March 2026 + 4% =

$ 22,840 pa

7.31% gross

Lease Terms:

Lease to 21/03/2027 plus 3 x 5 Year options Rent Increases:

4% yearly with market rent reviews every 5 years (next due 2027)

This spacious apartment with natural light features 1 bedroom, 1 bathroom, large open living room and open plan kitchen.

The bathroom was also upgraded in 2023.

With a sizeable floor area of approximate 55m2, it's a neat investment in the heart of town.

It is also only a short stroll to the main levee precinct, shopping centre, restaurants, art galleries, and main tourist attractions.

*** PLEASE NOTE*** In accordance with the lease this property will be due for carpet upgrades in the next 1-5 years

*Approximate Owner Outgoings: **Council Rates: 

$365 per annum  **Water Rates: 

$700 per annum  **Body Corporate Administration fee: Paid by tenant **Body Corporate Sinking fund: $950 per annum

* All figures are approximate*.

**Net returns do not include government taxes and scheduled capital works per the lease**

Disclaimer. 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.

The information contained has been provided to me by the vendors or 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.

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