Macarthur Grove Estate, Albury - Ultimate Dual Income Package
With a rental yield of 7.8% this property is the ultimate self managed super fund purchase or would be an excellent addition to any property portfolio with exceptional positive cash flow.
Albury is a major regional city in NSW on the northern side of the Murray River. It is a growth centre serving a region that is rich in crops, cattle, wine and history. Often dubbed The Murray Food Bowl, it is not dependent on agriculture for the health of its economy. There is also strength in the following sectors of manufacturing, construction, government administration, education, defence and retail. A number of national businesses, as well as the Australian Taxation Office, are based there.
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Approximately 200 new dwellings have been approved in the Albury local government area in most years since 1995. In many years new dwellings have exceeded 300. Approvals in 2012 and 2013 were both over 200. There continues to be a need for construction of new dwellings to keep pace with the continuing population growth.
The area is well serviced by transport infrastructure, which radiates outward from air, rail and road hubs. By road, the travel time is 3 hour from Melbourne and 6 hours from Sydney. The freight and passenger rail service passes directly through the area. Major national airline carriers and smaller regional airline carriers service the airport. Sydney is 1.5 hours away by air and Melbourne is 45 mins flying time. It is the second busiest regional airport in NSW, handling 280,478 passengers in 2012 and achieving a record $6.3 million in income.
A recent report for Albury LGA stated the city was on the brink of a construction boom with a string of large-scale projects to start late last year. Development valued at close to $250 million has begun, including the $70 million cancer centre in Albury. The Albury Base Hospital is the city’s largest employer and the Albury Wodonga Private Hospital, owned and operated by Ramsay Health Care, is regarded as one of the best private hospitals in rural Australia.
Albury is well serviced for schools; 32 pre-schools, 50 primary schools,24 secondary schools, a Community Education Centre for adult learning, two TAFE campuses and a campus of UNSW Rural Health Clinic School of Medicine next to Albury Base Hospital. Charles Sturt University has relocated a campus at Thurgoona and Latrobe University also has a new Albury-Wodonga campus.