45/66 Julia Street, Portland, Vic 3305

Quest Portland homes the only deep-water sea port between Adelaide and Melbourne, making it a major hub for sea transport. Its sheltered harbour provides calm waters for a marina, wharves and shipping berths and its major industries includes the Alcoa aluminum smelter which commenced operations in 1986.

The property is situated on the south-west coast of Victoria, 1 hour & 15 min west of Warrnambool. A town rich in history, displaying an abundance of 19th Century Bluestone buildings and boasting over 200 properties classified by the National Trust.

This 2-bedroom apartment consists of a main bathroom shared with the main bedroom. Across the lounge is a good sized second bedroom. All bedrooms come with built-in robes.

The open plan kitchen features a built-in oven, gas stove, cabinets, a modern sink and tapware.

Lease Details:
Current Rent: $348per week - $18,130 pa
Return: 8.06% Gross - 6.10%- Net

Rental Increases as follows:
July 2024 + 4%= 8.38% gross
July 2025 + 4%= 8.71% gross
July 2026 + 4%= 9.06% gross
July 2027 + 4%= 9.42% gross

July 2028- Market Review
followed by 4% increase in July 2029 - 2032

Lease to 30/06/2033 plus 3 x 5 Year options

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

Approximate Owner Outgoings:
Council Rates: $ 982
Water Rates: $ 604
Body Corporate Administration Fee: Paid by tenant
Body Corporate Sinking Fund: $2811 per annum

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