501/38 Playfield Street, Chermside, Qld 4032

**INVESTORS ONLY**
The complex is ideally located next door to the Westfield shopping centre and only 10kms from the Brisbane CBD.
The apartment is a twin key design which contains the flixbibility of having it used as a one bedroom apartment and a seperate studio or as a full size 2 bedroom apartment.
The apartment consists of split system heating and cooling, electric oven, electric cooktop, dishwasher, internal laundry facilities and a balcony looking down Playfield Street.
The carparks are all common area however each lot has a car park allocated to it.
The apartment is approx 82m2 internal plus a 7m2 balcony.

LEASE DETAILS:
Current Rent: $654 per week ($34,027 per annum)
Next Rent Increase: 17th November 2019
Current Return: 7% Gross / Net 6.37%
Rental Increase 17/11/2019: $35,388 p/a / 7.31% Gross
Lease Terms: Lease to 16/11/2030 plus 2 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)

APPROX OWNER OUTGOINGS:
Council Rates: $1575.80 pa
Water Rates: $850 p/a
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $749 p/a