One bedroom fully self contained apartment is located in Strandview complex, near the corner of Gregory Street and Mitchell Street, and 50 metre walk to the Gregory Street Cafe Precinct, and 150 metres to the Strand.
The unit is rented by Coles through their liquor subsidiary, although it can be privately let or owner occupied if the purchaser does not renew the lease.
The unique point in this case is the tenant – Coles, who have now renewed (March 2010) renewed for a third year at $300 per week net and they meet all ongoing maintenance (The owner pays only the rates and body corporate and any insurance they believe is warranted).
A great way to enter the investment property market with blue chip tenant and lease in place.