Newcastle 41/575 Hunter Street

The Quest apartments are in the heart of the Newcastle West CBD. Known for the inherent location and the convenient facilities within the building, this apartment is the ideal inner-city investment with a long term lease agreement in place with The Quest.

The property is within walking distance to a selection of restaurants, cafes and bars. A short walk across the old rail corridor and you are at Honeysuckle which is host to several of Newcastle's favourite bars and restaurants. A couple of minutes' walk to the East is Newcastle University which is rapidly growing and will bring students and staff into the city to live.

Marketown Shopping Centre is a minute to the South as is Number One Sports complex with junior and senior fields. Public transport is at your front door and links you with the major shopping centres such as Westfield and Charlestown Square. The property is a short cycle from all of Newcastle's Beaches (Approx. 5 minutes). The location is a key feature.

The internal features include;

Open plan kitchen, living and dining. Main bedroom with built in robe and ensuite bathroom. Second bedroom with built in robe. Main bathroom with shower, toilet and laundry.Well-appointed kitchen with oven-cooktop, range hood and dishwasher.North-facing balcony with views to the East. 136m2 floor plan.Split-system air conditioning.Common area includes pool, gym and spa facilities. Lease agreement in place with The Quest until June 2020 - $495 per week.4% annual increase on rental income (On current lease)2 x 5 year lease options remaining with The Quest (Options favouring The Quest)
Fantastic in both location and design, this apartment is an ideal inner-city investment.

Strata Rates: Approx. $916.05 p/q ($711.60 paid by The Quest - Admin Fund)($204.45 paid by the owner - Capital Works)
Council Rates: Approx. $284.00 p/q (Can claim 50% back from The Quest on the current lease agreement)

<i>Currently leased to The Quest - Long Term Lease Agreement</i>

Property Features

• Car Spaces 1