When will construction of the Storage Units commence?
Very Soon! We are just finalising the details so we can commence making the concrete tilt panel walls. When we get to the site – the building will go up very fast. We expect to be onsite in a few months from now.
When will the units be completed?
We expect the entire complex to be completed mid to late 2019. Exact dates will be updated when we know on our construction updates page on the website.
Why should I buy one now off the plan?
Simple. To secure the size and unit location you prefer. Once they are sold, there gone. We can reserve a unit with a holding deposit of $1000 (fully refundable). We then ask for a 10% deposit once you arrange your finance to secure your unit, and final settlement will be when it’s built and you get the keys to your unit after settlement.
How does this work if I’m downsizing our house?
Have your kids left home and you’re looking for a more comfortable lifestyle? A smaller house or apartment closer to Newcastle CBD? You’re excited about the change however you have realised you have no space to store your precious things. We have units for sale to provide you with that additional space. A storage unit is a nice way to still enable you to tinker on old projects and hobbies.
Why do I need some storage space?
It’s more than just that. We see our unique designs as an extension of your home; your storage unit is like having space for your private use so that your prized possessions are not squeezed into your home garage, guest room or your apartment. Treat it like a big shed, a home away from home.
I have a Business. Can I use Newcastle Premium Storage?
It is the perfect situation for you to be in, with additional space to sort, house and organise all those extra things hanging around in your current business. It also can make a great business growth option to use business profits as an investment to own more than one unit. If you dont spend much time in your office and would like to keep home seperate from work, this is an ideal sitaution to own and operate your own storage unit as a workplace for your stock, storage and small office space.
Can I buy one using my self-managed super fund (SMSF)?
A few people already have! Subject to your accountant’s advice for your personal situation, purchasing a unit using your SMSF can be a very solid personal investment. SMSF owners have shown interest in purchasing several units, 1 to use, and 1 or 2 more as an investment. And the good news is, we even have a waiting list of people wanting to rent space, so we can help match you with tennants prior to opening the complex. You may be able to be a little creative and rent the space back to your own business and have another 1 or 2 earning a 6 to 8% net yield for your super fund.
As an investment, would sort of a return would I receive?
Indications show that a 6 – 8% Net Yield is achievable. Outgoings are paid by the tenant, and we have strong historical evidence that the storage unit market in Newcastle is showing strong capital growth over a short to medium term. This means the resale prices of the units in a few years will make this investment decision even easier. We recommend you do your own research to conclude your own decision.
I can’t afford to buy one today?
You can secure a unit of your choice with as little as a $1000 deposit which is fully refundable while you organise your finance. Approx 2 weeks later we will ask for a 10% deposit to be paid. The balance is not due until settlement which is when you get your keys to the unit. We can recommend a few people who can assist with finance applications if you need it.
Will $20,000 be enough for a deposit on a unit?
It can be. A deposit of 10% (ie: $14,090 on a 32m² unit $140,900 unit purchase) plus some loan, stamp duty and solicitors fees would be required to secure your unit purchase. If you have finance arranged for settlement, and you have a tennant arranged to lease your unit (we can assist with this for “off the plan” investors), then the rent the tenant pays may cover your ongoing loan repayments. NOTE: this is general advice to a wide audience. Each persons situation is different. Please check with your own accountant if this is possible for your situation.
Can I own more than 1?
Absolutely. In fact we encourage it, and we have a few people who have already purchased several units as investments.
What if the units are never built?
This is a worst case scenario. If that was to ever happen, your deposit is held in a solicitors trust account and the contract of sale has a full refund clause in your favour if this situation ever did eventuate. So your deposit is 100% completely safe and refundable.
If I purchase in Stage 1, when can I access my unit?
The aim of the construction schedule will be to continually build from stage 1 through 6. The site will need an occupation certificate clearance at the completion of the build period. At this time the settlements and keys will be handed over to you to access and fill your unit. We will keep you informed along the way, but it will not be to long to build the complex.