Lot 614s/750 Bourke Street, Docklands, Vic 3008

Lot 614S/ 750 Bourke Street, Docklands, VIC

POSITION !! POSITION !! POSITION !!
FULLY REFURBISHED, with a balcony view directly to Etihad Stadium, this one bedroom apartment will attract savvy investors wanting blue chip security in an enviable location.

Within walking distance to Southern Cross Station, Crown Casino, Restaurants, Cafes, Waterfront precinct, DFO and Etihad Stadium at the back door, there is little wonder why Quest Docklands is one of our flagship buildings.

Recently undergone extensive refurbishment works worth $11,000 which included: new split system air conditioner, hot plates, stone bench tops to kitchen & bathroom, frameless shower conversion and new tap ware.
4% annual increases to rent until 2020

Lease Details
Current Rent: $525.78 per week ($27,340.84 per annum)
Next Rent Increase: 8/09/2017
Current Return: 6.58 % Gross
AUG 2017 + 4% - $28,434 = 6.85%
AUG 2018 + 4% - $29, 571 = 7.12%
AUG 2019 + 4% - $30,754 = 7.41%
Lease Terms: Lease to 7/09/2020 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)

Approximate Owner Outgoings:
Council Rates: $1119 per annum
Water Rates: $896 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $996 per annum