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Pipitea, 1609/75 Featherston Street

T16977

bed1
bath1

INVESTORS - 7.5% NETT RATE OF RETURN

Buyer Enquiry From $599,000

House Area: 54 m²
Year Built: 2000's
RV: $380,000
Property Description:
SET AND FORGET PROPERTY INVESTMENT

Here is a hassle free, low maintenance investment with a highly attractive nett rate of return - 7.5% (conservative estimate). This is calculated at the BEO of $599,000.

Excellent occupancy record. Long term lease contract with the Rydges Hotel (Hotel Management (Featherston St) Limited) This ensures regular monthly income is guaranteed (i.e. occupied or not).

•Previous 3 year's (2015-2017) average annual net income $43,413.19
•2017 - 2018 year to date average income indicates annual net income at approx $51,500.00
•Rydges Hotel is a proven performer with consistently high occupancy
•Total income is pooled and distributed based on unit entitlement
•Unit 1609 (Suite 1613) has a relatively higher unit entitlement
•The Rydges on Featherston Street is highly sought after hotel accomodation due to quality and location
•A well established and proven investment performer

$599,000 (BEO) ensures your returns should therefore comfortably achieve 7.5% nett per annum. As bank interest rates remain low this has to be great buying for savvy investors.

Call now to find out how it works.

(N.B. Investment only option - NOT FOR OWNER OCCUPIERS).

For more information contact John Kettle - Apartment Specialist
EM: jkettle@tommys.co.nz
MB: +64 27 443 1355

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