507/16 Lonsdale Street

Braddon ACT 2612

"We loved the iconic design of the building. There is nothing else like this in Canberra, and it made us proud that people stop across the road to take photos of it."

"We loved the walkability of everything. It's a central location, close to restaurants and shops and so close to the centre of Canberra.

On level 5, the views are amazing up to Telstra Tower, or just along Braddon's thriving heart of Lonsdale Street. The complex has only 45 residential units, so it's a tight-knit community. " Jodie and Ben.

It's an ideal opportunity for either an owner-occupier or an intelligent investor.
Income and expense snapshot:

Traditional rental estimates: $780 per week or $40,000 per year
Airbnb rental estimates: according to Monika, who runs Hotel Your Home: the average daily rate is $250 with an 80% occupancy rate! This could mean $70,000+ per annum.
Sinking fund: $485.10 (as provided by the seller 2023 financial year)
Admin fund: $5265.90 (as provided by the seller 2023 financial year)
Rates as supplied by the owner: $1962 per annum September 2022

Airbnb listings for the Branx development:

https://www.airbnb.com.au/rooms/53645653?_set_bev_on_new_domain=1675639728_MDUyOTYxM2Y5NDhm&source_impression_id=p3_1675639728_KLQUi7eYd60dF8Lo

Features and benefits of this unit:

There are two sizeable outdoor areas alongside the living area
The windows are a unique feature of the building and are double glazed
The apartment has reverse-cycle air conditioning for heating and cooling
A Smeg oven and gas cooktop are included
The dishwasher is a perfect Fisher and Paykel double dish drawer.
The internet connection is superfast fibre to the premises, reaching speeds over 100Mbs
A tandem carpark for two vehicles and a storage shed is located on the Basement 2 level.

About the "Branx" development:

It was completed in 2021 and is a tightly held-45-unit development
The architect was Judd Design, and the builder was Chase Construction
According to the owner, there are no developer or builder disputes about construction standards
It comprises ten floors, seven above ground and three underground. The apartment is on level 5 and faces onto Lonsdale Street.
Pets are allowed, and this is included in the owner's corporation rules
LJHooker manages the body-corporate
Special body corp rules: Airbnb is allowed, and several are already in the complex. There are a few rules which are primarily standard rules from the UTMA. The biggest is the protection of the building facade.
Maintenance of common areas and plant, insurance, cleaning, and fire safety. The building has CCTV and is secure, with limited access to the building and each floor.