Essendon

A UNIQUE Opportunity at Punt Hill - $631per week return

MUST BE SOLD
Only for the Savvy Investor is this unique opportunity to purchase with the 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 complex Gym & Conference room. Plus lots 18, 19 & 20, the secure basement carparks.
This lot 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 units or a large commercial office (or 2 offices) when the existing tenant, PUNT HILL vacated. (subject to council approval)
Currently returning $32,835.36 per annum ,$2736.28 per month, or a whopping $631.44per 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 body corporate.
Strong Tenant being Punt Hill Serviced Apartments www.punthill.com.au This property will not stick around.