202 Dawson Street South
Ballarat Central, VIC 3350

Overview

Potential 6.9% Yield

This impressive three-level accommodation property is located in a highly sought-after area of Ballarat Central, offering a significant investment opportunity with a potential yield of 6.9%. The building is currently leased on a three-year lease commencing 1st May 2023, with two further terms of three years, providing a stable income stream. The current rent is $103,500 per annum, with annual increases of 3.5% and market rent reviews at renewal, ensuring the investment remains future-proof.

The tenant is responsible for all usual outgoings, making this a landlord-favorable arrangement. The property features 23 guest rooms, three bathrooms, two kitchens, and laundry facilities, making it suitable for accommodation purposes. It is situated over three levels and offers beautiful views from the balcony, enhancing the appeal for guests or tenants.

The land area is approximately 511 square meters (0.13 acres) and includes five off-street car parks, providing convenient parking options. The building itself has a floor area of 672 square meters, offering ample space for accommodation and associated facilities.

There is a current planning permit for Bed and Breakfast use, and the site holds potential for further development subject to council approval (STCA). This presents an excellent opportunity for an astute buyer to enhance the property's value and functionality.

• Three-year lease commencing 1st May 2023
• Two further terms of three years
• Current rent amount $103,500 per annum
• 3.5% annual increases and market rent review at renewal
• Tenant pays for all usual outgoings
• Significant accommodation property with 23 guest rooms
• Potential for University Accommodation development subject to council approval
• Situated over three levels with balcony views
• Land area approximately 511 square meters with five off-street car parks
• Current planning permit for Bed and Breakfast
• Three bathrooms, two kitchens, and laundry facilities
• Heating and air conditioning installed

This property represents a rare opportunity to acquire a well-leased accommodation facility in a prime location with strong future potential. Its size, lease terms, and development possibilities make it an attractive proposition for investors seeking a secure and growing income stream in Ballarat Central.

Location