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Description: Positioned within the well-established Westminster House Supported Living Community in the heart of Merrimac, this unique freehold investment presents an opportunity to secure an income-producing asset within a specialised over-50s supported living environment.
Conveniently located just minutes from local shopping centres, medical facilities, public transport, the M1 Motorway and the new Merrimac Train Station currently under construction, this location continues to benefit from significant infrastructure investment and excellent connectivity across the Gold Coast.
Westminster House is designed to accommodate approved residents over 50 years of age, pensioners and eligible NDIS participants (subject to approval). The onsite manager is licensed to provide support services to residents and also manages the day-to-day operation of the complex.
This freehold title (lot 7) comprises two separate accommodation areas:
Room B01 – Large updated bedroom with private bathroom
Room B19 – Self-contained flat-style unit comprising a lounge, kitchen, bedroom and bathroom
As a specialised accommodation investment, these properties are generally purchased for their income-producing potential rather than capital growth. They offer investors an opportunity to diversify into a niche sector with a well-established operating model.
*Please note that finance for this style of investment can differ from standard residential lending. Buyers requiring finance should discuss their individual circumstances with their broker or lender prior to making an offer.
Estimated Investment Overview
(Based on a purchase price of $190,000)
Annual Rental Income
Income Source - Annual Income
Room B19 ($570 per fortnight) $14,820
Room B01 ($600 per fortnight) $15,600
Total Gross Rental Income: $30,420 per annum
Estimated Annual Expenses
Body Corporate Caretaking Levy – $7,000
Administrative Fund – $2,322
Sinking Fund – $2,078
Total Body Corporate: $11,400
Property Holding Costs
Gold Coast City Council Rates – $2,764
Water Rates – $2,092
Rental Management Fees (8.25% incl. GST) – $2,510
General Property Expenses – $1,584
Total Holding Costs: $8,950
Estimated Annual Position
Gross Rental Income: $30,420
Less Estimated Annual Expenses: $20,350
Estimated Annual Surplus (Before Finance & Tax): $10,070
Equivalent to approximately:
$839 per month
$194 per week
Indicative Returns
Gross Yield: 16.0%
Estimated Net Yield (after operating expenses): 5.3%
(Documentation Available at request)
A video walkthrough of the property is also available and can be sent via WhatsApp upon request.
Private inspections can be arranged with suitable notice provided to the tenants.
Should you require any additional information or wish to discuss the investment further, please don't hesitate to contact Taya Rich.
Disclaimer
Disclaimer: The information contained within this summary has been prepared using information made available at the time of writing and is provided as a general guide only. The financial figures are indicative and include current rental income together with estimated operating expenses. They do not include finance costs, taxation implications, depreciation, insurance (where applicable), maintenance, vacancy periods or unforeseen expenses.
Prospective purchasers should undertake their own independent due diligence and obtain appropriate financial, legal and taxation advice before making any investment decision. No representation or warranty is made as to the accuracy or completeness of the information provided, and interested parties should rely on their own enquiries.
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