Invest in your holiday apartment with ocean views

Port Macquarie, New South Wales, Australia

Status	Available
Asking Price	450,000  AUD

 

About the Development

It is a small boutique development of only 33 apartments and offers a mix of 1, 2 and 3 bedroom apartments.

If you buy an apartment in this complex you will be paid a gross rental return of 6%* for the first year. And, on the most affordable one bedroom apartments, this return will mean the investment is narrowly cash flow positive (after tax) for the first year for middle-income tax payers.

Property Type: Apartment
Property Price: $ 450,000
Bedrooms: 2
Bathroom: 2
Garage: 1

The larger apartments and the ones on the ocean side of the building with abundant water views have after tax cash flows that are narrowly negative for middle income tax payers.

Beyond the first year the managers expect returns around this level to be naturally generated by the property in its own right more on this later, but they are prepared to put their money where their mouth is and underwrite it in the first year, meaning that, should your investment dip below 6% returns at any stage, they will chip in the difference and pay you this amount every month; you will not have to wait until the end of the year.

For tourists, Port Macquarie is a unique coastal town only four hours drive north of Sydney on the NSW mid-north coast, making it ideal as an overnight stopover or holiday destination.

As roads and air services progressively improve, many more tourists from Sydney and Newcastle have fallen in love with Port, firstly as a holiday resort, then upgrading to a beach home and later permanently moving to live in one of Australia's most relaxed and temperate environments.

The Port Macquarie region now boasts a permanent population of approx 70,000, swelling to around 120,000 in peak holiday periods and with its current strong rate of growth, this will grow to over 95,000 within 15 years. The population trend from city to sea is well known across Australia. The majority of units now being built in Port Macquarie are for owner occupiers, locals, but most for people from other parts of the state.

The infrastructure and facilities of Port Macquarie as a tourist destination are second to none:

• Eight sandy beaches (three patrolled)

• Two major river systems

• Two major shopping centres

• A well developed and expanding CBD

• Private and public schools

• A wide choice of restaurants and cafes

• Coastal walks and cycle ways

• All sporting facilities

• Golf and bowling clubs

• Licensed clubs and hotels

Macquarie Waters has the highly desirable resort style facilities including on-site management, an immensely popular restaurant The Corner recently voted Best New Restaurant on the mid north coast, heated pool, spa, BBQ area, roof top observatory with water views and a unique Dive In Theatre - yes you can watch a movie while relaxing in the pool!

Financials available on request.