52/575 Hunter Street Newcastle West, 2302 NSW
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.
Sold $600,000
Inspect
Inspection of this property is available strictly by arrangement only.
Contact
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Casey Healey
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Casey Healey