Only for the Savvy Investor is this unique opportunity to purchase within the Residential Hotel, Essendon Grand Punt Hill Serviced apartment complex.
On offer is the opportunity to purchase Lot G04 on the existing Plan of Subdivision which is currently being used as the conference room & gym.
This parcel is nearly twice the size of any other apartment within the complex (130sqm approx) and comes with 3 secure basement car spaces.
This space could be one day developed into 2 separate residential apartment or a commercial office (or 2 offices) when the existing tenant, PUNT HILL vacated. (subject to council approval)
Currently returning $32,130.48 per annum, $2677.54 per month, or a whopping $617per week.
In a superb location with shops, public transport, pubs and major road arterioles nearby.
Good long stable tenant who has been in the property for over 10 years & has just extended in February 2016 for another 5 years.
Lease with yearly CPI reviews and an extra 3 x 5 year options.
There are NO vacancy periods, no letting fees and the tenant pays the bulk of the body corporate fees.
Strong Tenant being Punt Hill Serviced Apartments www.punthill.com.au This property will not stick
M 0438 757 358