575 Hunter Street

Newcastle West NSW 2302

A unique opportunity to secure a large one bedroom apartment in the heart of Newcastle's CBD.Within a short walk to the waterfront boardwalk of Honeysuckle and Marketown Shopping Centre, located on the 3rd floor, it boasts a tremendous floor area of 75m2 & Carpark on title.*** OWNER HAS JUST PAID FOR BATHROOM UPGRADES****** QUEST PAY WATER RATES, ADMIN LEVIES &HALF COUNCIL RATES***A sought after, hot spot for investors, Newcastle is a vibrant and progressive city, surrounded by spectacular beaches and harbours. With restaurants, bars and outdoor cafes at your doorstep,together with a thriving business economy and strong tourismmarket, its one not to be missed. Lease DetailsCurrent Rent: $396 per week ($20,635 per annum)Current Return: 6.07% gross- 5.70% NETNext Rent Increase: June 2019Increasing as follows:June 2019 - $412 per week (21,460 per annum) 6.31 gross returnLease Terms: Lease to 11/06/2020 plus 4 x 5 Year optionsRent Increases: 4% yearly with market rent reviews every 5 years Internal PhotosSpacious 1 bedroom apartment boasting a floor area of 75m2. Entertainers covered balcony area, large kitchen and spacious lounge all with car park on title.The building features a communal indoor pool & gymnasium.Recent Apartment upgrades include:New shower screen and vanity, regrouting & new mirror, new vinyl floor tiles to kitchen, LED light installation & feature wall painting. Approximate Owner Outgoings:Council Rates: $550 p/a (1/2 levies are PAID BY QUEST)Water Rates: PAID BY QUESTBody Corporate Administration fee: PAID BY QUESTBody Corporate Sinking fund : $697 p/aFeatures include: Air conditioning,Gym,Built in wardrobes,Internal Laundry,Dishwasher,City Views,Balcony / Deck,In the heart of Newcastle, large 75m2 one bedroom with terrace