Chifley Apartment Rental Data

1. The Lease Summary

When purchasing a Chifley Apartment and presented with the leasing option, there is a tendency for some potential buyers to spend hours in spreadsheets analysing the offer.

If you are considering any other apartment, house or townhouse as an investment, you are usually presented with a vacant property or an existing tenancy with little or no time left on the lease. The future income, rent increases, rate costs, vacancy rates and management costs are difficult, if not impossible to predict. Often you are faced with making a decision based solely on the location and current return. This offer is different from others in that it offers you some certainty of return over the next 4+ years.

You know your current and future rent retun. As the manager is running a commercial business the rent return is already potentially higher than you would recieve in similar properties close by. Any increases in council or water rates are at the risk of the manager, not you. Depending on your purchasing entity, tax status and level of borrowing it is quite possible to hold one of these apartments at a zero cash cost after tax*. We encourage you and your accountant/advisor to analyse this offer in comparison to other investments, rather than in isolation from other investment offerings.

*Potential purchasers should only consider this offer in conujunction with advice from your accountant and/or financial advisor.

2. The Lease

Your contract may include a lease to Chifley on the Wharf Pty Ltd. Your net rental return under the lease will vary depending on the rental paid and the purchase price of the apartment of your choice. The rent will be increased by 3% (compounding) on each anniversary of the lease.

Please click here to view the Cashflow Guidelines for the Chifley Apartments

POINT TO NOTE:

Expenses Covered:

Council Rates

Water Rates & Usage

Property Maintenance (limited to $100 per item, see lease for details)

Expenses not Covered:

Expenses not covered by Chifley on the Wharf include land tax, strata management fees, strata sinking fund contributions, building/contents/public liability insurance and repairs or maintenance over $100 per item (see lease for details).

3. Your Furniture Package

The Management Agreement with the developer requires the developer to provide Chifley on the Wharf with furniture and furnishings to a four and a half star level. The furniture package includes lounge, coffee table, lamp table, study desk, chairs, LG 51cm flat screen TV, LG mini home theatre/DVD player etc. The kitchen is fully supplied with Fisher & Paykel washing machine and clothes dryer. A full linen and towel pack is also supplied. The balcony will have an outdoor table and chairs. Chifley on the Wharf are required under the lease to replace at their cost any item up to $100.00 (say plate breakages or new kettle or toaster). A more detailed list of furniture, fittings and equipment is provided within the contract of sale.

Your furniture package is now included in the price

4. The Finishes

The apartment is required by the operator to be completed at a four and a half star level. The apartments have separate tiled and carpeted areas. The kitchens are laminate with Caesar (or similar) stone tops. The bathroom/laundry areas are tiled. Internal walls are painted gyprock. Door handles and bathroom fittings brushed stainless steel (or similar) finish. Halogen downlights throughout. Windows and external sliding doors are powdercoated aluminium. Balconies are tiled with glass framed balustrading. All apartments are air-conditioned with wall mounted split system units. Condenser units are on the roof, not on the balconies.

If you have any questions please call your NextHotSpot sales consultant on 02 9917 8600 or click here to send us your details.