Lot 28 (Apt 201), 1 Ken Tubman Drive, Maitland NSW 2320

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 its boasts a thriving events filled calendar.

The visitor economy is an important contributor to Maitland’s economy. Each year Maitland attracts 801,000 visitors and tourism generates over $235M annually and supports over 1,300 jobs in Maitland. The beautiful city makes for a scenic weekend escape or hub for many major businesses within close proximity to Newcastle Airport.

• OWNER PAID FOR UPGRADE WORKS DUE THIS TERM INCLUDING FULL REFURBISHMENT TO BATHROOM, NEW CARPET AND PAINT !! WORK WILL COMMENCE SHORTLY

• Rental income set until 2027 with 4% increases per annum.
• Large one bedroom lot boasting 68m2 internal living area.
• Walk in robe to master bedroom
• Large open plan family room with meals area kitchen and study nook.
• Fully equipped kitchen with dishwasher.
• Including 1 x car park (Exclusive use onsite)
• Onsite conference facilities and cafe
All located only a short stroll from the main town, with refurbishments paid for the term- a great one bedroom investment in the sought after hunter valley region.

Lease Details:
Current Rent: $392 per week -$20,425 pa
Current Return: 6.44% Gross - 5.57%- Net

Scheduled Rent Increases As Follows:

March 2023 + 4% = $408 pw- 6.70% gross
March 2024 + 4% = $424 pw- 6.96% gross
March 2025 + 4% = $441 pw 7.24% gross
March 2026 + 4% = $459 pw 7.53% gross
March 2027- Market Review.

Lease Terms: Lease to 22/03/ 2027 with 5 x 5 yr options
Rent Reviews and Increases:
4% yearly- with market rent reviews every 5 years (next due March 2027)

**Net returns do not include future capital works or additional government taxes associated with property ownership.

**** PLEASE NOTE SOME IMAGES MAY BE GENERIC AND NOT OF EXACT LOT****

Approximate Owner Outgoings:
Council Rates : $688 per annum
Water Rates: $800 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1271 per annum

Please note these outgoings are subject to change by the relevant authorities

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.