Lot 3 Fairway Avenue, Weipa
BLUE CHIP INVESTMENT:- RIO TINTO LEASE / $867 PER WEEK RETURN House - Property ID: 833819
4 Bedroom 3 bathroom double storey residence overlooking the Carpentaria golf course.
Rio Tinto has just announced that they are moving full steam ahead with the South of Embley (now called Amrun) Bauxite mine with a lifespan of 40 plus years and will be spending $2.60 Billion Australian dollars over the next 5 years in preparation for the opening! (Over $1.4 million dollars per day; 365 days per year x5 years!)
This stunning residence was purpose built for Rio's executive employees and is leased on a 10 year (4+3+3) year lease with annual C.P.I. increases!
Priced at just $580,000 and total out goings of less than $7,500/year this magnificent investment property is showing well over 6% Nett Returns with huge potential for capital gain as the town is predicted to double in size over the next 5 years