Buyers $200,000 - $250,000
Westminster House is one of the Gold Coast’s original and most established assisted-living rental communities, purpose-built in 1993 and still in high demand today. Offering fully resourced, low maintenance studio units in a supportive environment, this development presents a rare opportunity for investors seeking secure returns and consistent occupancy.
(more images to come soon)
PROPERTY FEATURES - 3 x STUDIO UNITS (one title) FREEHOLD
3 x studio style bedrooms with ensuite bathroom, built-in robe, bar fridge, microwave, shelving
Air conditioning & ceiling fan, window blinds/curtains
Partly furnished: bed, chair, side tables, fridge, microwave (units vary)
Brick construction - Single-level access/disability friendly
Onsite management & long-standing 'hands on' caretaker
FINANCIAL OVERVIEW
Rent per unit: $570 per fortnight ($14,820 per room per year)
Gross Annual Income (3 units @ 100% occupancy): $44,460.00
Total Outgoings (estimated): $26,100 p.a. approx (see below)
Net Income: approx. $18,360 p.a.
Net Return: ~8.35% based on $220,000 purchase price
OUTGOINGS (approx) per annum for all 3 rooms combined (1 lot)
Admin fund $5054
Sinking Fund $1188
Water Rates $1824
Council Rates $1381
General Expenses $2340
(gen exp $15 per week per room) for gen admin, advertising, linen cleaning, other misc, phone system etc)
Management fees $3666 (if 100% occupancy) approx 8.25% of rent
Caretakers Levy $10,648 (per 1 lot of 3 ) ($3550 per room)
Room maintain ($0- $1000) per annum approx
*All figures are approximate. Buyers should conduct their own due diligence.
ABOUT THE DEVELOPMENT
Westminster House is a dedicated supported living community providing a comfortable, affordable, low-stress lifestyle with resident services.
Including:
- Nutritious home-style meals daily (resident funded)
- Daily support if required, communal areas, and social activities
- Walkways to dining room, community lounge, and gardens
- Wi-Fi, security cameras, onsite caretaker, and other staff assisted.
- Small pets allowed (subject to BC approval)
- Car parking spaces available for visitors and residents
CENTRALLY LOCATED - MERRIMAC, GOLD COAST
Westminster House is ideally situated and in easy walking distance for convenience, lifestyle, for the residents
- Worongary Shopping Centre (1km) - Coles, chemist, cafes, medical, 20+ retailers
- Merrimac Tavern, McDonald’s, Zarraffa’s, and takeaway options
- Bus stops on Bourton Road & Gooding Drive for easy public transport access
- Future Merrimac Train Station (under construction )
Within 10-15 Minutes Drive:
- Major shopping at Robina Town Centre & Pacific Fair
- Robina Hospital, medical specialists, train station
- Broadbeach, Gold Coast beaches, and hinterland
- Direct access to the M1 Motorway for Brisbane and NSW travel
Disclaimer: In the preparation of this document, we have used our best endeavours to ensure that the information contained herein is true and accurate, and accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify any information contained herein