8/66 Julia Street

Portland VIC 3305

Allocated parking on title- with long first term of lease until 2033
Great addition to the portfolio at entry level pricing.

Quest Portland is situated on the south-west coast of Victoria, 1 hour & 15 min west of Warrnambool. A town rich in history, displaying an abundance of 19th Century Bluestone buildings and boasting over 200 properties classified by the National Trust.

It homes the only deep-water sea port between Adelaide and Melbourne, making it a major hub for sea transport. Its sheltered harbour provides calm waters for a marina, wharves and shipping berths and its major industries includes the Alcoa aluminium smelter which commenced operations in 1986.

Quest Portland is based in the hub of the commercial precinct with retail outlets and eateries at your doorstep, together with grassy foreshores & the town's marina and sands of Nuns Beach only a short stroll.

Lease Details:
Current Rent: $411 per week - $21,383 pa
Return: 7.92% Gross - 6.16%- Net

Rental Increases as follows:
July 2024 + 4%
July 2025 + 4%
July 2026 + 4%
July 2027 + 4%
July 2028- Market Review
followed by 4% increase in July 2029 - 2032

Lease to 30/06/2033 plus 3 x 5 Year options
**Net returns do not include capital works or additional expenses associated with property ownership.

Approximate Owner Outgoings:
Council Rates: $1100
Water Rates: $ 850
Body Corporate Administration Fee: Paid by tenant
Body Corporate Sinking Fund: $2811 per annum

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