608/47 Lonsdale Street, Melbourne VIC 3000

Property Details: • Type: Apartment / Unit / Flat

• Bedrooms: 1 • Bathrooms: 1

Description: Positioned on the sixth floor with a preferred northerly aspect at the front corner of the building, this one-bedroom apartment of approximately 39sqm enjoys an outlook over Lonsdale Street. THIS IS STRICTLY AN INVESTMENT PROPERTY AND IS SUBJECT TO A LONG TERM LEASE. The apartment comprises a functional kitchen, open plan living and dining area, central bathroom, and a well-proportioned double bedroom opening to a Juliette balcony. Located at the northern end of Melbourne's CBD, with immediate access to retail, restaurants, cafes and the theatre precinct. The apartment is presently leased to Comfort Hotels until 7th October 2027 with two further 10 year options thereafter. NB: This lease offers "Owners Use" of 30 days per year. (Conditions apply) Enjoy the benefit of a long term lease, minimal outgoings and a higher net return than traditional residential property. IMPORTANT INFORMATION: RENT: $23,400 pa ($450 per week approx.) INCREASE: The lessor of CPI or 7% increases from the 3rd year of each lease term (Between Market Reviews) RETURN: 8.25% Gross (7.5% Nett) LEASE: Until October 2027 OPTIONS: Two x 10 Year Terms TENANT (Comfort Hotels) PAYS: Owners Corp Admin fees Water rates Insurance General maintenance OWNER PAYS: (Approx) Council rates: $1,011 pa Maintenance fund: $1,253 pa Inspection is by private appointment. Disclaimer: Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent. This information has been provided by third parties. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. We urge all interested parties to conduct their own due diligence and seek independent professional legal advice to ensure this information is accurate