Description:
The Saville on Russell comprises one bedroom self contained apartments, foyer/reception, conference rooms, Up One restaurant, pool, sauna, spa, gymnasium and security parking.

Tenant:
Stockland Hotel Group Pty Ltd

Rental Return:
Commences at 6.5% of the apartment purchase price and 6.0% of car park purchase price
(if applicable).

Lease Term:
10 years

Lease Options:
The tenant has a further three 5 year options.

Rental Reviews:
Annual rental growth at 3% p.a. commencing after year 2. Market rent review in year 6 and every five years after. Rent not to fall below first year’s rental.

Car Parks:
Car parks are available to a limited number of purchasers of one bedroom apartments at $40,000 each.

Purchasers at Saville on Russell benefit from fixed rental reviews

Outgoings:
The tenant pays:
• Body corporate fee
• Insurance
• General maintenance and cleaning
• All operating expenses
• Furniture replacement

The owner pays:
• Council rates • Water rates (excluding usage)
• Special levies if applicable

Owners Use:
Owners will receive a discount equivalent to 80% of the rack rate when they stay at the Saville (7 days per year).*

GUARANTEE: STOCKLAND TRUST GROUP FULLY GUARANTEES THIS LEASE AND ALL ITS CONDITIONS FOR THE FULL TERM OF THE LEASE

*Conditions apply