ATTENTION INVESTORS - AMAZING RETURNS

Gladstone is AustraliaA¢a‚¬a„¢s boom city, with more than $70 billion of infrastructure spending planned over the next 10 years.
Companies such as Santos, Origin, Petronas and British Gas are all seeking accommodation for employees.
The housing and unit vacancy rate in Gladstone is below 1.5% and it is nearly impossible to obtain hotel or motel accommodation.

G80 is a near new complex of 74 apartments, all with undercover parking, which was completed in December 2010. The units were constructed by Hutchinsons Builders, a 100 year old Queensland company, and the internal and external finishes are first class.

Unit 248 has an area of 86 square metres, with a 19 square metre balcony. It has two generous sized bedrooms, an en suite, and a second bathroom. The unit is fully self-contained and comes with all furniture, whitegoods, Manchester, crockery, cutlery and artwork. The unit is on the top floor of the complex with expansive views of the sporting fields opposite and towards the Gladstone marina and the mountains in the distance.

It is currently leased to an international company for $850 per week. The tenant has been advised that, upon renewal of the lease, the rent will be increasing to $900pw.

Body Corporate fees are currently $2918pa, local government rates are $1454pa, and insurance is $380pa.

2012/13 depreciation allowances total $11,214. A quantity surveyorA¢a‚¬a„¢s depreciation report is available on request.

Based on the asking price of $499,500 and the current rentals and expenses, the net return to the owner is 7.9%.

For more information or to arrange an inspection call Georgie at Knight Frank Gladstone 07 4972 7005

Property ID: 1113088