* Light-filled 1 bedroom apartment in the heart of the inner-city suburb of Darlinghurst * Bedroom features an ensuite bathroom and good sized built-in wardrobes * Set in a quiet corner of an art deco building, the apartment is well-designed and features high ceilings and period features * Walking distance to the Sydney CBD, and only 350 metres from a train station * Well-established suburb with a historic track record of long-term, consistent returns * Apartment is desirable to a broad tenancy base, particularly young professional singles or couples. **Location** Darlinghurst is renowned for its eclectic mix of cafes, bars and restaurants. It’s walking distance to the Sydney CBD (within 2km) and also offers easy public transport options. When it comes to inner Sydney property, Royston Street offers a lifestyle that’s hard to beat. It’s only a 10 minute walk to the harbourfront Rushcutters Bay Park and the popular Kings Cross Markets. Kings Cross train station is only 350 metres away, while it’s only 700 metres to St Vincent’s Hospital. Gyms, supermarkets and pubs are all within a 5 minute walk, making for an extremely convenient lifestyle. This area attracts a diverse group of people. Around 60% are renters, with the majority being young professionals (source: Domain Darlinghurst suburb profile). **Investment Case** This property was purchased at auction on 15 March 2018. The property was acquired for $639,000, with no debt. Acquisition costs (including stamp duty, legal fees and buyers agents fees) are estimated to be $45k, and will be subjected to linear amortization over 5 years (see Capital Returns Tab for a breakdown of Acquisition Costs). In addition, an estimated cash reserve of $5k is being raised for the investment, giving a total Trust value of $690k and launch Brick price of $69.00. In the event that the Acquisition Costs are above/below estimates, these costs/surpluses will be funded from/added to the Cash Reserve. At purchase, the property was occupied by the owner. A property management team has been assigned to this property, and they will start to market for a tenant as early as possible to minimise any vacancy period after Settlement of the purchase. It is estimated that rent achieved will be in the region of $500 per week, providing a forecasted gross yield of 3.77% and net yield (paid monthly) of 2.52%, after expenses. As at the end of February 2018, Darlinghurst had a historical capital growth rate of 7.16% per annum, based on the last 20 years (source: CoreLogic). Fluctuations in Brick Price will influence the effective return, and thus you should regularly refer to Returns and Valuation information on the summary page for the latest data. **Property Management** BRICKX uses a third party managing agent to manage the properties on behalf of investors. Investors will not be required to take an active part in managing a property and will not be consulted for any decisions relating to a property. The Manager will operate within the management agreement framework for all properties so that Investors are left only to manage their portfolio. The Manager pro-actively manages the properties to ensure that they are as much as possible consistently tenanted and kept to the highest standards to protect the Investors investment, both from a capital and rental income perspective. There may be periods of time where a property is vacant, and expenses during this period are covered by a contingency fund that provides over 3 months of cover (note this is for expenses only and not for the payment of any net rental income to Investors). The Manager has also put in place procedures to ensure that before a lease expires, the tenant will be asked to confirm their position with regards to the tenancy agreement. If the tenant does not sign a new lease within a certain time, the property will be advertised for lease. The rental price may be slightly reduced in order to attract a new tenant if necessary. BRICKX will always seek to achieve a balance between the forecast yield and market conditions to minimise the risk that the property is vacant for extended periods. **Important Notice** Forecasts may not be achieved and are not a reliable indicator of future performance. The advice provided to you is general advice only. It has been prepared and presented without taking into account your personal objectives, financial situation or needs. Before making any decision in relation to BRICKX or any products offered by BRICKX you should read the Product Disclosure Statement (PDS) and consider whether BRICKX is right for you. BRICKX products are issued by Theta Asset Management Limited (ABN 37 071 807 684) (AFSL 230920) (Theta). Neither BRICKX nor Theta, guarantees any rate of return or the capital value or return of any money invested. Past performance referred to is no guarantee of future performance of the relevant financial product and is not a reliable indicator of future performance. BRICKX products are issued by Theta Asset Management Limited (ABN 37 071 807 684) (AFSL 230920) (Theta).
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