403/8 Dorcas Street

Southbank VIC 3006

A solid investment situated in a blue chip pocket that attracts residents, investors, workers and visitors alike with future options for residential occupancy!

Boasting views to the Shrine of Remembrance from the bedroom window this spacious two bedroom, two-bathroom apartment enjoys an enviable location only moments' walk to Southbank and South Melbourne
precincts.

*** Please note images are of Apt 303 ( same internals- one level down)

Open plan living with kitchen, lounge and dining area opening to an outdoor balcony. The master bedroom is complete with ensuite and main bathroom also has two-way access to bedroom 2.

Complete with secure underground car park on title, an investment in a beautiful outer-Southbank precinct.

MIXED USE- RESIDENTIAL BUILDING

Lease Details:
Current Rent: $619 per week - $32,284 pa
Current Return: 6.52% Gross - 5.95% - Net

Scheduled Rent Increases As Follows:
March 2027 - increasing to $34,901 pa - 7.05% gross
March 2028 - increasing to $36,297 pa - 7.33% gross
March 2029 - Market rent review

Lease Terms: Lease to 24/03/ 2024 with 6 x 5 yr options

**Net returns do not include future capital works or additional government taxes associated with property ownership

Approximate Owner Outgoings:
Council Rates : $1290 per annum
Water Rates: $884 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $659.00 per annum

Please note these outgoings are subject to change by the relevant authorities. Returns do not include planned owner refurbishment per the lease and applicable government leases.

Should you require any further information please don't hesitate to contact me via return email or the contact numbers below.

In accordance with Section 47AF of the Estate Agents Act 1980 please see below to view the Statement of Information:

Disclaimer. The information provided herein, and any further information supplied, is provided by way of example only. It is intended as general information only and is not to be construed as investment, legal or taxation advice. Potential investors are encouraged to seek the advice of their legal, financial and other advisors prior to investing, so as to determine whether this type of investment is suitable for their specific needs.
The information contained has been provided to me by the vendors or third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.