1 Bedroom Studio for Sale in HOPE ISLAND 1001/56 John Lund Drive

1001/56 John Lund Drive HOPE ISLAND

SOLD by The Edgar Natolo Team

A brilliant investment opportunity not to be missed in the newly renovated Ramada Hope Harbour!

This hotel room is currently under a management agreement with Ramada for a guaranteed rental income until July 2020. After this period you can either renew the agreement with them, live in it, have it as a holiday home, even rent or buy a marina berth or permanently rent out.

Bright and convenient, this generous fully furnished ground floor studio apartment enjoys northern aspect with views over the Marina. Ideal for for investors looking to secure a foothold in this luxury position.

Hope Harbour residents enjoy their own private access to the boardwalk, fringed by pristine waterways and decorated with recreational watercraft. Plus, it's just a short stroll to catch the Couran Cove Flier over to the Resort or if friends come over, dine at the Ramada International which is footsteps away.

Features include:

• Fully furnished studio unit with 2 queen beds
• Full bathroom
• Kitchenette
• Air-conditioned
• Secure car space
• Blue chip location in an attractive price range
• World-class Ramada Hotel facilities including pool, spa, sauna, gym, restaurant and bar

Only 5 minutes to the restaurants and cafes of Paradise Point or the prestigious Sanctuary Cove where you can enjoy boutique shopping, classy dining, a round of golf or all your boating options from this excellent location plus located just 2km from the Broadwater on the Coomera River and the new shopping centre "The Market Place with Woolworths and Aldi as well as numerous other branded shops and easy access to the M1 for commute to Northern NSW and Brisbane, this one really is not to be missed!

*Bonus, as per the lease with the Ramada Hotel you are entitled a total of 7 days stay at the apartment in each lease year. (See Clause 27 of the lease).

MANAGEMENT AGREEMENT TERMS & CONDITIONS:

Income:
• $8,880 Guaranteed rent return per year ($740 per month)
• $5,046.22 Bonus, Ramada pays body corporate as part of Management Agreement
Total Income = $13,926.22 per year

Expenses:
• $214.88 Insurance Yearly (paid by owner)
• $5,046.22 Yearly Body Corporate Fee (paid by Ramada as described above)
• $2,521.70 Council Rates per year (paid by owner)
• $1,327.24 Water Rates per year (paid by owner)
Total expenses = $9,110.04

At the end of Ramada's lease if you wish to rent the premises out to a member of the public, rent returns are currently $295 per week = $15,340 per year.

• Council Rates: (all charges are per 6 month billing cycle)
• Category 3T - Tourist Rental minimum $1168.50 (currently charged at)
• Category 2T - Permanent Rental or Non-Principal Place of Residence min $576.50
• Category 1T - Principal Place of Residence minimum $480.12

• Electricity is a shared component of single meter, a set price of $110/month is being charged against each unit. As with any rental property, electricity & telephone are at the tenants expense. (Noted on page 7 of the lease).

*All figures based on current invoices and documentations provided.

The Edgar Natolo Team