34/745 Whitehorse Road

Mont Albert VIC 3127

**Please note that there are further refurbishment works still due for this apartment, please see refurbishment link above to download scope and estimated costs, painting and carpet has been completed with remaining works as proposed by tenant as follows:
Year 1 - Add safety rail to shower/bath
Year 2 of Current Term - Stone overlay on Kitchen Benchtop
Year 3 of Current Term - Kitchen Joinery and drawer system, Stone splashback, re-tile kitchen floor
Next Term - Repaint Ceilings
Total cost remaining per refurbishment schedule $6401 which is subject to change.
Lease Details:
Current Rent: $507 per week ($26,388.45 per annum)
Next Rent Increase: 29th September 2019
Current Return: 6.87% Gross / Net 6.24%***
Increases as follows;
29/9/19: +2.5% - $27,048.16 / 7% Gross
29/9/20: +4% - $28,130.09 / 7.33% Gross
29/9/21: +4% - $29,255.29 / 7.62% Gross
29/9/22: +4% - $30,425.50 / 7.92% Gross
29/9/23: Market Review
Lease Terms: Lease to 28/09/2023 plus 5 x 5 Year options
Rent Increases: 2.5% in 2019 and 4% in 2020, 21, 22. Market review in 2023.
***Refurbishment costs not factored into Net Yield***
Approximate Owner Outgoings:
Council Rates: $961.25 per annum
Water Rates: $703.82 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $757.76 per annum