The Madison Heights complex is situated in one of the most elevated positions in the heart of Bowen Hills! Madison Heights is exceptionally well-positioned within walking distance of the Royal Brisbane and Women’s Hospital and Fortitude Valley. The complex is also moments from Newstead, Teneriffe and all the locality has to offer including places like Gasworks – what an incredible address!
The kitchen features white and stainless steel with storage, while the study niche is perfect for the home office or professional. The living area and bedroom are both spacious, benefit from loads of natural light and have spectacular views.
From superior finishes matched with a strong design, this apartment is smartly fitted out, ensuring a durable low maintenance investment in a high demand rental precinct, or a fabulous owner occupier city pad.
Apartment features include but not limited to –
• Well-appointed kitchen with gas cooking
• Well-appointed lounge room Spacious bedroom with built-in robe
• Separate study nook perfect for working from home
• Modern bathroom
• Enclosed balcony space
• Air conditioning
• Ceiling fan
• Intercom access
On-site facilities include –
• Rooftop entertainment with amazing views over the city
• BBQ facilities
• Pool
• Gymnasium
• Meeting Room
• On-Site Manager
• All the convenience shops you will need downstairs – IGA, Subway and Cellarbrations Bottle Shop
Currently rented for $230/week through NRAS with lease in place until 14 April 2021
o If you were to purchase as an owner occupier, the current tenant would have two months to vacate with written notice, and you would be able to remove the property from the scheme with no penalty.
o If you purchased as an investor, you would be able to keep the property leased through NRAS or could remove it penalty free from the scheme and rent it out privately
Council Rates ~$410/quarter
Water Rates ~$300/quarter
Body corporate ~$3.6k/annum
What is NRAS?
The National Rental Affordability Scheme (NRAS), which commenced in 2008, aims to increase the supply of new and affordable rental dwellings.
Madison Heights has a limited number of apartments that are rented out under the NRAS scheme. These apartments are rented at 30 per cent below market rates.
The target group for NRAS is low to moderate income Australians – people who may find it hard to pay market rental rates. Potential and existing NRAS tenants must meet an eligibility criterion and be assessed by the approved tenancy manager of a particular property.
The NRAS scheme is not “social housing” NRAS apartments are privately owned, and a prospective tenant who meets the eligibility criteria are not automatically entitled to rent an NRAS property.
Please call Tamara Hall if you have any questions or for further information. I look forward to welcoming you at my open home.
***ALL PHOTOS WITH FURNITURE ARE INDICATIVE ONLY – ALL VIEW AND FACILITY PHOTOS ARE CURRENT.