1112/23 Whitaker Place, Grafton, Auckland

Empirical Empire

A worry-free investment in Auckland's student heartland.

No holiday vacancy here. Receive the rent every month, verifiable by observation and experience. Currently earning approximately $9000 net per annum plus GST. Yes net! After rates, body corporate and management expenses. All you need to do is look at your bank account. No hassles, no effort on your part at all!

This two bedroom, two bathroom apartment in the purpose-built student accommodation complex Empire on Whitaker Place, off Symonds Street is located by the Auckland University Campus. The building comprises some 325 units and is popular with both overseas and NZ students. Auckland University has some 40,000 students and is highly regarded locally and internationally, the latter from whence there is significant and increasing demand for university degrees from English-speaking countries. Whitaker Place is within easy access to public transport and a short stroll to Albert Park and the Domain, providing students with a convenient and pleasant environment for their studies.

In lease to Theta Management Ltd until 20 April 2016 with one extension option of 10 years - final expiry 20 April 2026

Net Income 12 months to June 2014 $8,878
Projected Annualised Net Income based on June 2014 income $9,119.

Tenure: Stratum in Freehold
Rates: $880.32 approx. per annum
Body Corporate: Levy: $3,947.52 approx. per annum
Management Fee: $1,603.08 approx. per annum
FF&E Reserve: $480.94 approx. per annum

Call Andrew today for further information.

Auction: 2pm, Wednesday 27 August 2014 (unless sold prior)
Bayleys Auction Room, 4 Viaduct Harbour Avenue, Auckland