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Better Than Money In The Bank!

Wellington Central, 10D/35 Johnston Street


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Listing Number: WL24922
About this listing
Global economic uncertainly means people look at "bricks and mortar" property to secure their future. So look here! This investment apartment has a lease to 2033 and is located in the Quest Hotel on Johnston Street. You cannot be more inner-city Wellington than here! Adjacent to the "Golden Mile" of Lambton Quay, this guarantees a very high occupancy rate in the heart of the Wellington banking and commerce heartland and business district and easy walking distance to the Parliament, this is an ideal base for busy business people. As well, for the long stay tenants looking to study at the various Victoria University of Wellington facilities or the Te Auaha tertiary campus it is an easy ten minutes walk. Similarly, the apartment is within easy walking distance of the cultural and art heartland of the Cuba Quarter.
As part of the long-term maintenance and upgrading of the building and apartments in the complex, a remodelling and refurbishment of the apartment, at a cost of in excess of $28,550 has been undertaken. The apartment is open plan one bedroom, furnished (a list of chattels come with the property). This is an investment apartment for GST registered buyers, looking for a steady regular income. It is a hands-free investment, fully run and managed by the Quest Hotel with a long-term lease to the Quest hotel until October 2033. Further amenities available to the tenants include a gym and a conference center.

- Capital Value (2018) $185,000
- WCC rates (2019/2020)- $2,585.49
- Yearly rent - $15,000 until 30/09/19, going up to circa $16,125 (TBC) 01/10/19, rent reviews occur every 2 years.
- High NBS earthquake rating - 93%
Viewing strictly by appointment (we have to work in and around room occupancy so ideal visit times are irregular and between 12pm and 1.30pm).
Property Information
  • Property Type: Apartment
  • Roof: Concrete and Tile
  • Tenure: Stratum in freehold
  • Property condition: Good
  • Unit style: Hotel / strata, Number in block: 50, Number of levels: 11
  • Construction: Brick
  • Joinery: Timber
  • Insulation: Partial
  • Flooring: Carpet
  • Window coverings: Drapes
  • Heating / Cooling: Electric
  • Electrical: TV points, Phone extensions
  • Chattels remaining: See chattel list
  • Kitchen: Modern
  • Living area: Open plan
  • Main bedroom: Double and Built-in-robe
  • Main bathroom: Separate shower
  • Laundry: In kitchen
  • Views: City
  • Water heating: Electric
  • Water supply: Town supply
  • Sewerage: Mains
  • Locality: Close to transport, Close to shops
  • Legal details
    • Body corp fee $: 4906.85

Contact Details

Property Location

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