509/47 Lonsdale Street, Melbourne VIC 3000

Situated on the fifth floor and with the preferred Northerly aspect, this one bedroom apartment measures approximately 35 square meters overlooking Lonsdale Street.

NB THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.

Comprising a functional kitchen, open plan dining and lounge room, neat fully equipped bathroom plus excellent double bedroom leading to a Juliette balcony.

Positioned in a prime Melbourne location at the top end of the CBD with major retail shops, restaurants, cafes and theatre precinct close at hand.

The apartment is presently leased to Comfort Hotels until 13th October 2027 with two further 10 year options thereafter.

NB: This lease offers "Owners Use" of 30 days per year. (Conditions apply)

Enjoy the benefit of a long term lease, minimal outgoings and a higher net return than traditional residential property.

IMPORTANT INFORMATION:

RENT: $19,828 pa
($382 per week approx.)

INCREASE: The lessor of CPI or 7%
increases from the 3rd year of each lease term (Between Market Reviews)

RETURN: 8.2% Gross
7.3 % Nett

LEASE: Until October 2027

OPTIONS: Two x 10 Year Terms

TENANT (Comfort Hotels) PAYS:
Owners Corp Admin fees
Water rates
Insurance
General maintenance

OWNER PAYS: (Approx)

Council rates: $991 pa
Maintenance fund: $1,190 pa

Inspection is by private appointment.
For further details please contact:
Nick Walters of Kingsford Property - 0438 557 885
[email protected]

Disclaimer: Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent. This information has been provided by third parties. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. We urge all interested parties to conduct their own due diligence and seek independent professional legal advice to ensure this information is accurate.