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Description: This property is located in the suburb of Ballarat named Bonshaw. Bonshaw is very close to the Ballarat General Hospital - it is a locality on the fringe of the City of Ballarat. Ballarat is a very vibrant continuously expanding residential and commercial area. In fact Ballarat is a very fast growing and very stable area for investment. Travel time to Melbourne is just 1 hour.
There are all conveniences very close to Bonshaw including a range of supermarkets, retail and business centre, large warehousing, medical and hospital, reputable schools, - it is located so close to all the Ballarat offers!
The rental is estimated at 10% gross income return each year for 5 years.
Refer to the letter attached from the Ballarat General Hospital who wish to accommodate their employees in these homes. The hospital is currently being enlarged with a new redevelopment -
- $837million redevelopment to Ballarat General Hospital
- Population 117,240
- 400,000+ tourists visit each year - Sovereign Hill attraction
- 0.9% vacancy factor
- Diverse Economy - anchored in healthcare, education, retail, tourism, manufacturing - has Ballarat University and TAFE
This property is absolutely unique and virtually risk free:
Priced at $885,000 - this purchase includes a guaranteed gross rental of 10% calculated on price of the property (approx. $91,000 annually approx.) for a period of 5 years
The homes are built on demand /request basis by the Ballarat General Hospital for the accommodation of their medical personnel. The Head Lease is with this hospital, with individual leases in place for all 5 tenancies.
The leases are residential - but the actual property is zoned and approved as commercial:
Funding requirements: this has to be Commercial funding - ask us for recommended lender with very competitive lending rates!
Summary:
Land: 448m2 Price: $245,000 (includes all fixed site costs)
Co - Living home: 269m2 approx - 28 squares Build cost: $640,000
FIXED PRICE CONTRACT: $885,000
(Building contract is fixed price when contract is fully signed and deposit paid)
Bedrooms: 5 executive suites including bedroom & ensuite, living, kitchenette, study area
Share balance of house including large kitchen/living/ social area/laundry and garage etc
Each suite is a totally private and lockable area
Additional features:
- includes furniture pack for the whole house (furniture packs are included as a rebate for all packages)
- includes 3.1 solar system
- split system air conditioning for entire home
- front and rear landscaping
RENTAL ESTIMATE: GUARANTEED 10% GROSS INCOME RETURN - 5 YEAR GUARANTEE - income approx. $91,000 gross - refer to the rental estimate letter and also the letter from the Ballarat General Hospital endorsing this project
REGISTERED LAND - FULL TURN KEY BUILDING CONTRACT
• FIXED PRICE WHEN CONTRACTS ARE FULLY SIGNED AND DEPOSITS PAID
TO PURCHASE:
TWO CONTRACTS - this property is subject to availability
Land Contract plus HIA Building Contract
ASK IF YOU NEED TO BUY AS SMSF SINGLE CONTRACT
Land is registered - land settles in 30 days approx. after finance approval
Finance approval in 30 days from date of land contract, but needs to be within 45 days from issue of contract
Initial deposit on EOI $2,500 ($1000 to be deposit on Land contract- refundable / $1,500 to be initial deposit on Building Contract)- this deposit is not refundable
Properties for sale are subject to being available at time of enquiry! If lot is sold the builder will source similar sized lot and we will prepare and supply for you a replacement house and land package with all features included.
FOR SALE: $885,000
Kaye Tilley 0418 823 046
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