Block South Yarra apartment investor seeks 4.6 percent rental yield

Block South Yarra apartment investor seeks 4.6 percent rental yield
Block South Yarra apartment investor seeks 4.6 percent rental yield

It was a bumper year for The Block South Yarra as every apartment featured in the hit design show was sold above reserve price in their November 2015 finale.

The buyer of 5/1a Affleck Street, known as Luke and Ebony's apartment, has just listed the sub penthouse for rental.

It was bought for $2.2 million in November.

Thousands of Melburnians queued up for a glimpse before it's live TV auction, but the $1950 a week price tag is likely to see a cap on prospective renters.

If the buyer secures a tenant at the asking price they will be looking at a rental yield of 4.6 percent.

Located in the formerly seedy Hotel Saville in South Yarra, the three bedroom plus study full floor apartment occupies an upper level of the complex.

The $2.2 million sale comfortably beat the reserve price of $1.56 million, but it wasn't enough for Luke and Ebony to win the competition. The WA siblings missed out by just $15,000 on overall winners Dean and Shay.

Brant Williams of Advantage Property Consulting is managing the lease for the octagonal shaped apartment.

To check out the best and worst contestants on The Block of all time, click here.

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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The Block South Yarra

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