La Isla Southport apartments offer rare rental guarantee for investors
La Isla, the completed Southport apartment development, is offering its investor buyers a rare six per cent rental guarantee for the first year of ownership.
Eric Machado, Director at Sutherland Group Property who are marketing the La Isla apartments on behalf of developer Draycon, says the rental guarantee will be particularly appealing for investors from Interstate.
"I don't know of any development on the Gold Coast, or even in South East Queensland, which is offering a 6% rental guarantee on purchase," Machado says.
"The guarantee offers certainty for an investor that they will start to see a return straight away."
There are some dual key apartments on offer which have so far been snapped up by local investors, while some are currently occupied and managed by Draycon.
Draycon initially saw the La Isla building as an opportunity to develop and keep the entire project but pivoted to the more traditional selling model given the lack of brand new apartments available on the Gold Coast.
"There's hardly any brand new apartments available on the Gold Coast, never mind projects tailor-made for the investor," Machado added
A portion of the La Isla residents are owner-occupiers, residing in the two and three-bedroom, owner-occupier focused apartments. Most of the owner-occupiers were driven by both the size of the apartments, and the high-end resident amenity on offer.
Crowning the 14-level La Isla is a rooftop infinity pool, a hot tub on the north-east corner and an open entertaining area offering never-to-be-built-out views over the Broadwater, Marina Mirage and Southport Yacht Club. Residents also have easy access to other areas of the Gold Coast, with a tram stop right outside the Queens Street building.
La Isla was complete late last year to a design by architects Burling Brown.
Southport is undergoing a regeneration and opportunities are limited.