Lot 6/59-61 Kembla Street, Wollongong NSW 2500

OPEN FOR INSPECTION: WEDNESDAY 26TH APRIL 11.45 AM- 12.15 PM

INVESTORS ONLY: 4% RENTAL INCREASES UNTIL 2027.

Centrally located in the heart of Wollongong CBD, an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, and Wollongong's harbour and beaches.
With a thriving economy this two bedroom, two bathroom apartment with enormous 63m2 outdoor entertaining terrace and basement car park on title will attract investors wanting to secure a solid New South Wales investment.
Known locally as ‘The Gong’, Wollongong is a vibrant blend of the hustle and bustle of city living and the friendly coastal attitude that this part of the world is so famous for. Discover copious heritage sites, fishing and surfing spots, stunning rain forest walks and plenty of delicious seaside eateries and bars. The Gong is also home to the University of Wollongong and industrial businesses.

Spacious 2 bedroom apartment consisting of full ensuite to master, main bathroom, separate lounge area and galley style kitchen.
Boasting 71m2 internal living area, and an enormous 63m2 outdoor terrace (one of only 3 apartments in the complex with a private terrace) together with titled underground secure parking.
'In the heart of town with rental increases locked in until 2025.

Lease Details:
Rent as of June 23: $561 per week - $29,203 pa
Current Return: 7.05% Gross - 6.02% Net
Scheduled Rent Increases As Follows:
June 2024 + 4% = $584 pw - 7.33% gross
June 2025 - Market Review.

Lease Terms: Lease to 15/06/ 2025 with 3 x 5 yr options
Rent Reviews and Increases:
4% yearly- with market rent reviews every 5 years (next due June 2025)

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

Approximate Owner Outgoings:
Council Rates : $1346 per annum
Water Rates: $624 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1384 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.