110/1 Ken Tubman Drive

Maitland NSW 2320

Under long term lease with Quest Apartment Hotels-
Lease Details:

Current Rent: $406 per week - $21,117 pa
Current Return: 6.76 % Gross / 5.88% NET

Increases as follows:
March 2025 + 4% = $21,961 pa= 7.03% gross
March 2026 + 4% = $ 22,840 pa 7.31% gross

Lease Terms: Lease to 21/03/2027 plus 3 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2027)

Double Story loft style apartment just undergone a stunning full refurbishment to bathroom. Featuring 1 bedroom, 1 bathroom, large open living room and open plan kitchen.
With a sizeable floor area of approximate 58m2, and balcony overlooking the quiet tree lined Catherine street, it's a neat investment in the heart of town.
Allocated licenced car park and only a short stroll to the main levee precinct, shopping centre, restaurants, art galleries, and main tourist attractions

*** PLEASE NOTE***
The apartment has upgraded the following items:
Full refurbishment to main bathroom including wall & ceiling tiles, frameless shower, wall hung vanitie, new tapware hardware and toilet.
Repainted 2018
New rangehood and hotplate 2019
In accordance with the lease this property will be due for carpet upgrades in the next 1-5 years

Approximate Owner Outgoings:
Council Rates: $688 per annum
Water Rates: $800 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1271.00 per annum

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