Shane g/Yorker – the spaces are managed by Securepark on a 5 by 5 yr lease with g’teed net rental of 3% (CPI increased annually). After 5yrs you can do what you want i.e. renew lease at whatever they are offering, use it yourself, rent it yourself privately. They are individually strata titled and can be sold at any time. 10% down now with settlement in 18mths when the refurb is complete (Abigroup doing the work). Not many people lend against them – Westpac will do a 50% LVR. They are in the old Harris St Car Park in the Goldsborough building, Darling Harbour – there is a residential refurb going on at the same time – car spaces being reduced from 1600 to 400 odd. I bought them for capital growth reasons.
