If you are tired of chasing rents and would like to sit back and let the rents come in each month without the headaches. Quests apartments (http://www.questapartments.com.au Quest manage over 120 serviced apartments complexes around Australia, New Zealand and Fiji.) they have their own handyman to fix minor things and cleaners to keep your property in pristine condition. They pay the building and contents insurance and pay your rent direct into you bank account each month, so you have no need to employ a real estate property manager. Quests have an office in the group and their night manager lives in the same close as this townhouse.

The current lease term runs until 31st August 2012 and Quest have options until 2027. (Just over 18 years) As Quest currently plans to stay on THIS SHOULD ONLY BE CONSIDERED AS AN INVESTMENT PROPERTY.

Due to the length of the lease this property has been discounted by over $60,000 when compared to similar owner-occupier townhouses in the group. Change of property owner does NOT break the lease.

This 3 Bedrooms Townhouse features:
Quality paintwork through out (repainted and re-carpeted this year.)
Floating timber floors in the lounge hallway.
Gourmet kitchen with SMEG appliances.
Main bedroom has built in robe, ensuite and balcony
Both bathrooms with IXLtastic lights/heating.
Quiet rear courtyard and front balcony.
Ducted reverse cycle air-conditioning
Lock up garage with a remote controlled door

Asking Price $359,000
Rent $1,360 paid monthly, plus content and building insurance, regardless of occupancy.
Rent Review: Automatic 4% rental Increase each September (1/9/09 New rental $1,415 pm) and market review every 5 years with the next Market Review on 31st August 2012.
Zoning: Mixed Use Zone: King William Street South Policy area 28
Official Street Address: 9 Frankis Close, Adelaide
Number on Door: Quest 55.
Council: The City of Adelaide $1676 pa
SA Water $ 725 PA
ESL $ 336 PA
Street Management/Encumbrance: The Metro No 5 Pty Ltd.
Street Management Levy: $83.00 per quarter.
Year Built: 2001

Worst case scenario: Quest move out one day and you property jumps in price as current demand for owner occupiers in this group, currently brings $60,000 premium. Located just walking distance from the legal district, the Central Market and across the road from the tram to Rundle Mall, North Terrace or the beach.

For More Information or Inspection (by Appointment) contact David Beattie 0403 006 372

RLA 46801