OFF MARKET

21-23 Hursley Road
Newtown QLD 4350

Bedrooms: 16
Bathrooms: 14
Car spaces: 15
Floor area: 103m2
Land area: 2023m2
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Last updated 11 Nov 2024
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Property Details for 21-23 Hursley Rd, Newtown

21-23 Hursley Rd, Newtown is a 16 bedroom, 14 bathroom Unit with 15 parking spaces and was built in 2016. The property has a land size of 2023m2 and floor size of 103m2. While the property is not currently for sale or for rent, it was last sold in October 2021.

Building Type
Unit
Year Built
2016
Floor Size
103m2
Land Size
2023m2
Local Government
Toowoomba Regional
Lot/Plan
4/SP244459

Last Listing description (December 2021)

21 Hursley Road is a prime opportunity for those looking to capitalise on taking advantage of purchasing 8 units in one line. The complex is currently run as a profitable Serviced Apartment business however can also be offered as residential accommodation for those investors looking for 'set and forget' income.

Built in 2012, this beautifully designed inner-city complex boasts many extras including beautiful Caesar Stone bench tops, plush carpets, built-in wardrobes, ceiling fans in all bedrooms, reverse-cycle air-conditioning and large alfresco courtyards - perfect for privacy.

The designer open plan kitchens look out to the oversized dining and living spaces. Completed with high end finishes, quality fittings and a nice crisp clean colour scheme delivering a light and bright interior. The lock up remote-controlled garages have the added advantage of internal access. There is nothing to spend on these units as they are immaculately maintained to the highest standard.

'21 on Hursley' currently operates as high-end serviced apartments averaging 85-90% occupancy and maintained by owners working part-time. This quality asset is at ease in providing guests with spacious, spotless rooms and a level of comfort strongly desired. Delivering lifestyle with income, the owners offer guests contact-free check-in. Annual turnover sits at $350k-$400k. The opportunity exists to purchase the property and continue the business which can be easily achieved by maintaining the existing management system. Or if you want to "set and forget", contract a manager to oversee the management and profit up to $250k pa.

Additionally, you can offer the complex as residential rental accommodation. Now is the time to invest in Toowoomba. This population growth is placing upward pressure on the supply of dwellings and will increase capital values and rental yields in the short term. With the potential rental income estimated at $140k, and no body corporate fees, the complex offers a 5+% return.

Call for a copy of the Information Memorandum.

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Property History for 21-23 Hursley Rd, Newtown, QLD 4350

A timeline of how this property has performed in the market
Last Sold
$2,590,000
14 Oct 2021
  • 14 Oct 2021
    Sold for $2,590,000
  • 19 May 2021
    Listed for Sale $2,590,000
  • 20 Apr 2017
    Listed for Sale Offers to Purchase

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About Newtown 4350

The size of Newtown is approximately 5.5 square kilometres. It has 15 parks covering nearly 15.4% of total area. The population of Newtown in 2011 was 9,564 people. By 2016 the population was 9,587 showing a population growth of 0.2% in the area during that time. The predominant age group in Newtown is 20-29 years. Households in Newtown are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Newtown work in a trades occupation. In 2011, 55.1% of the homes in Newtown were owner-occupied compared with 52.3% in 2016.

Newtown has 5,363 properties. Over the last 5 years, Houses in Newtown have seen a 90.12% increase in median value, while Units have seen a 97.49% increase. As at 31 October 2024:

  • The median value for Houses in Newtown is $566,755 while the median value for Units is $435,631.
  • Houses have a median rent of $470 while Units have a median rent of $390.
There are currently 36 properties listed for sale, and 28 properties listed for rent in Newtown on OnTheHouse. According to CoreLogic's data, 308 properties were sold in the past 12 months in Newtown.

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