|
Description: Westminster House is one of the Gold Coast’s original and most established assisted-living rental communities, purpose-built in 1993 and still in high demand today. Offering fully resourced, low maintenance studio units in a supportive environment, this development presents a rare opportunity for investors seeking secure returns and consistent occupancy.
PROPERTY FEATURES – 3 x STUDIO UNITS (one title) FREEHOLD
3 x studio layout rooms with ensuite bathroom, built-in robe, bar fridge, microwave, shelving
Air conditioning & ceiling fan, window blinds/curtains
Partly furnished: bed, chair, side tables, fridge, microwave (units vary)
Brick construction - Single-level access/disability friendly
Onsite management & long-standing caretaker
FINANCIAL OVERVIEW
Rent per unit: $550 per fortnight
Gross Annual Income (3 units @ 100% occupancy): $42,900
Total Outgoings (estimated): $27,130 p.a. approx (see below)
Net Income: approx. $15,770 p.a.
Net Return: ~7.8% based on $200,000 purchase per unit
OUTGOINGS (approx) per annum for all rooms (1 lot)
Admin fund $3442
Sinking Fund $1015
Water Rates $1280
Council Rates $2100
General Expenses $4200 ( includes common area, maintaining cleaning kitchen area/equipment/meal areas, cleaning, electricity, other misc fees/repairs, phone etc)
Management fees $3432 (if 100% occupancy) approx 8.25% of rent
Caretakers Levy $10.658.00 (per 1 lot) ($3550 per room)
Internal minor unit repairs $1000 all 3 (estimate)
*All figures are approximate. Buyers should conduct their own due diligence.
ABOUT THE DEVELOPMENT
Westminster House is a dedicated supported living community providing a comfortable, affordable, low-stress lifestyle with resident services. Including:
3 nutritious home-style meals daily (resident funded)
Daily support if required, communal areas, and social activities
Walkways to dining room, community lounge, and gardens
Wi-Fi, security cameras, onsite caretaker, and other staff assisted.
Small pets allowed (subject to BC approval)
Car parking spaces available for visitors and residents
CENTRALLY LOCATED – MERRIMAC, GOLD COAST
Westminster House is ideally situated and in easy walking distance for convenience, lifestyle, for the residents;
Worongary Shopping Centre (1km) – Coles, chemist, cafes, medical, 20+ retailers
Merrimac Tavern, McDonald’s, Zarraffa’s, and takeaway options
Bus stops on Bourton Road & Gooding Drive for easy public transport access
Future Merrimac Train Station (under construction )
Within 10–15 Minutes Drive:
Major shopping at Robina Town Centre & Pacific Fair
Robina Hospital, medical specialists, train station
Broadbeach, Gold Coast beaches, and hinterland
Direct access to the M1 Motorway for Brisbane and NSW travel
Disclaimer: In the preparation of this document, we have used our best endeavours to ensure that the information contained herein is true and accurate, and accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify any information contained herein
|
