Medina Classic Martin Place is located in the central CBD, footsteps to Martin Place, world class shopping and dining at your doorstep, within walking distance to Sydney’s financial district. It is superbly positioned within distance to Circular Quay, The Rocks and all the entertainment Sydney CBD can offer.
-57square metres
-Separate double bedroom with built in wardrobes
-Contemporary kitchen finished in quality materials
-Fully tiled bathroom, internal laundry
-Air-conditioning, 24 hour concierge
This serviced apartment is part of a professionally managed and serviced hotel style complex with an exceptional yield. Monthly distributions are paid to the owner based on the collective occupancy of the 49 apartments in the building, monthly and annual summaries are provided by the manager.
Net rent paid to the owner for the financial year
-July 2005 $20,965.96
-July 2006 $20,165.02
-July 2007 $20,126.22
-July 2008 $21,560.90
-July 2009 $18,196.33
-July 2010 $16,187.00
-July 2011 $24,917.00
-July 2012 $16,888.00
The hotel management pays all outgoings, including Strata Levies $1038.94 per quarter/Water Rates $150.00 per quarter/Council Rates $208.30 per quarter
Lease term: 10 year lease commenced last year and expires on 31 December 2022
Premium opportunity for the astute investor.