Chifley Apartments, Honeysuckle

Very rarely do we get an opportunity such as this. The Chifley on the Wharf Apartments include ground level retail plus 82 apartments over seven levels, in one of the most sought after locations anywhere in Newcastle. We believe these apartments offer the best flexibility for investors in this position compared to other offerings currently in the Honeysuckle area.

For the first time as an investor you have the flexibility and peace of mind of knowing you are in total control of the tenancy of your investment. The Chifley Apartments offers a long term lease agreement with a nationally managed apartment operator or you can chose to self manage the apartment like a traditional landord.

The developer, Pacific Lifestyle Resorts (PLR), has granted Chifley on the Wharf Pty Ltd (Chifley on the Wharf) rights as manager of 71 serviced apartments, including exclusive on-site rights regarding leasing, letting and advertising.

This provides the purchaser with the security of a four + year lease with an average return between 5.8% and 6%+ over the length of the agreement. Additionally all rents increase by a fixed 3% per annum. In addition to the rent, the operator will pay your council rates, water rates and certain property maintenance. Depending on your tax position, depreciation benefits could further add to the available return.

Although the lease has a 4 year term, you can 'opt out' of the lease (or the option lease if exercised by the Manager) by giving the Manager 90 days notice at any time during the lease.

The Chilfley on the Wharf Apartments does not have any occupation restrictions. That means you could move into or rent out your apartment, just as you would with any residential apartment.

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Click below to watch our NextHotSpot Report on Honeysuckle with Chifley as the feature property

For more information about the Honeysuckle area please click here or call our team on 02 9917 8600.