108/48 Wellington Parade, East Melbourne, Vic 3002

**INVESTORS ONLY**
An opportunity to secure a beautiful heritage rich apartment in the ever demanding "hot spot" of East Melbourne.
A very spacious studio, complete with bathroom dining area, small balcony and cosmopolitan kitchen that was recently updated.

Walking distance to Yarra Park, The MCG, Olympic Park/ Tennis Centre, Richmond and the CBD.
The building also boasts a rare communal rooftop terrace with stunning 360 degree views of Melbourne CBD, Richmond & surrounds.
Lease Details:
Rent as of 16/06/2018: $305 per week ($15,889 per annum)
Return as of 16/06/2018: 6.35% Gross / 5.09% Net
Rent Increases: 4% per annum to 2022
Lease Terms: Lease to June 2022 plus 4 x 5 Year options
Increases as follows:
16/06/2019: $16,524 / 6.61% Gross
16/06/2020: $17,184 / 6.87% Gross
16/06/2021: $17,872 / 7.15% Gross

Approximate Owner Outgoings:
Council Rates: $671 p/a (approx)
Water Rates: $993 pa (approx)
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1483 p/a (approx)