Better Than Money In The Bank!

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 re-modelling and refurbishment of the apartment, which the owners have already paid for ($28,550). 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
- Annual rent (1 October 2019 to 30 September 2021) is $17,500 pa.
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).

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Main Property Features

Listing Number: WL24922

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
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Licensed REAA 2008

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Harcourts Wellington City

Team Wellington Ltd

Licensed REAA 2008

Level 1, 54-56 Cambridge Terrace
Te Aro
Wellington
Office website or View office details

Property Location