5.7% Net Return in Prime Location
G2/48 Wellington Parade, East Melbourne
**INVESTORS ONLY**
An opportunity to secure a beautiful studio apartment in the ever demanding "hot spot" of East Melbourne.
Within walking distance to the MCG, Melbourne Tennis Centre, AAMI Stadium, Fitzroy Gardens, The Tan and the Melbourne CBD the apartment boasts a location that would be hard to beat..
The building also boasts a rare communal rooftop terrace with stunning 360 degree views of Melbourne CBD, Richmond & surrounds.
Lease Details:
Rent as of 6/8/2019: $364 per week ($18,935 per annum)
Current Return: 7% Gross / Net 5.74%**
SET RENTAL INCREASES AS FOLLOWS
6/08/2020 - + 4% increase - $19,692
6/08/2021 - + 4% increase - $20,480
6/08/2022 - Market Rent Review
Lease Terms: Lease to 5th August 2022 with 3 x 5 yr options.
Rent Increases: 4% Increases yearly with market rent reviews every 5 years (next due 2022)
** Please note: Gross and Net yields do not include upcoming refurbishment expenditure.
** Please note: Rent yields are based on the rental amount as of 6/08/2019
Approximate Owner Outgoings:
Council Rates: $933 per annum
Water Rates: $900 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1606 per annum
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