STUDIO APARTMENT WITH HARBOUR VIEW
Located on the Elizabeth Bay (eastern) side of Macleay Street; almost in the centre of Potts Point’s “cafe district”; almost opposite Woolworths supermarket; Harbour view; Built-in wardrobe; Compact kitchenette with mini-fridge.; Ducted air conditioning. Outdoor pool, 2 lifts; 24 hour concierge, Security entry, security cameras, security lifts; Transport (taxi, bus), shops and restaurants at the door; Approximately 700 metres to Kings Cross station; Broadband connected to unit (ADSL2+); Building wired for FOXTEL; Located on 3rd floor of the Macleay Serviced Apartments / Hotel. ; The studio is strata title.

NOTE: Enquiries will be handled by someone in Sydney. Inspections can be arranged on short notice.

SIZE: 22 square metres

APPROXIMATE OUTGOINGS
Strata levies: $942.37 per quarter
Council Rates: $221.40 per quarter
Water Rates: $163.15 per quarter

Expected gross rental return: $350 per week

RELATIONSHIP BETWEEN “THE MACLEAY HOTEL” AND THIS UNIT

Despite the sign on the building saying “Macleay Hotel”, each unit in the building is a distinct piece of real estate.

ELIZLEE PTY LIMITED owns some of the units in the building, it leases other units in the building (from their individual owners) and it has a lease over certain sections of the building which the unit owners own in common. It uses them in its hotel business. The parts of the building it uses for its hotel business are what is properly called the Macleay Hotel. This unit is not currently part of that hotel as it is not currently leased to them.

ELIZLEE PTY LIMITEDs rights in respect of the building are simply those of someone who rents parts of the building and owns individual units in the building. There is no obligation on the owner of this unit to lease it to them or on them to lease it from the owner. The owner of the unit can live in it or rent it out to anyone who wants to rent it.

As with normal strata title units, each unit owner is directly responsible to the relevant government authority for general rates, water rates and electricity. Each unit owner is responsible to the owners corporation for the strata levies.

The zoning of the studio is “Zoned No. 10, Mixed Uses Zone”. This zoning allows the unit to be used as a normal residence but the zoning allows a wider range of uses than does standard residential zoning.