39/337 Armidale Road

Tamworth NSW 2340

Current Return: 7.85% gross- 6.56% NET
INCREASES AS FOLLOWS:
Oct 2019- $20,006- 8.16% gross
Oct 2020- $20,806- 8.49% gross
Oct 2021- $21,639- 8.83% gross
Lease Terms: Lease 30/09/2022 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2022)
The apartment has recently undergone a refurbishment program.
Upgrades that have been done include:
Repainting, new carpet, kitchen upgrades and tiling.
*** Please note bathroom upgrades are still due- scope of works will include upgrades to ensuite, separate toilet, main bathroom & laundry. The current owner has paid for stage 1, a balance of $10,650 will be payable upon completion of works. Work commencement and completion date is to be confirmed***
Total floor area of apartment is 97m2 including Balcony + Carpark on title.
Please note some images may be generic and not of actual lot-
Approximate Owner Outgoings:
Council Rates and water rates : $1720 pa approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking Fund : $1424.72 p/a
Tamworth Regional Council is one of the biggest councils in inland NSW, with a population of over 58,000 and a prosperous economy based on building, retail, industry, hospitality and agriculture.
Tamworth is best known as Australia s Country Music Capital, hosting the award-winning annual Music Festival which sees the regions population double and is the largest music festival in the southern hemisphere and one of the top 10 in the world.
Tamworth boasts a busy year round calendar of events and festivals, locally grown food and wine, country experiences, outdoor recreation and vibrant heritage, museums and arts.
A solid investment apartment in a region that attracts residents, investors, workers and visitors alike.