Lot 36/575 Hunter Street, Newcastle West NSW 2302

A unique opportunity to secure a one bedroom Investment apartment in the heart of Newcastle's CBD.
Within a short walk to the waterfront boardwalk of Honeysuckle and Marketown Shopping Centre, Newcastle is a sought after, "hot spot" for investors as a vibrant and progressive city, surrounded by spectacular beaches and harbours.

With restaurants, bars and outdoor cafes at your doorstep, together with a thriving business economy and strong tourism market, its one not to be missed.

Lease Details:
Rent as of June 23: $438 per week - $22,809 pa
Current Return: 5.63% Gross - 5.07% Net
Scheduled Rent Increases As Follows:
June 2024 + 3% = $451 pw - 5.79% gross
June 2025 - Market Review.

Lease Terms: Lease to June 2025 with 4 x 5 yr options
Rent Reviews and Increases:
3% yearly- with market rent reviews every 5 years (next due June 2025)

Oversized and spacious 1 bedroom apartment consisting of:
• Separate lounge/ family room area
• Large fully equipped kitchen with dishwasher, wall over and overhead cupboards
• large main bathroom with laundry facilities.
• Large Main bedroom ( suited to King Bed)
• Private covered alfresco balcony.
Boasting 75m2 floor area and undercover secure carpark on title.
Carpet recently replaced.

Approximate Owner Outgoings:
Council Rates : $705 per annum (Tenant pays 50%)
Water Rates: NIL (Paid by Tenant
Body Corporate Administration fee: NIL Paid by tenant
Body Corporate Sinking fund: $1540 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.