Please call Alex Ouwens or Martin Wylie 0433 599 343 for more information.

Situated in Adelaide’s cosmopolitan West End surrounded by an enticing array of cafes and eateries, this smart serviced apartment is part of the ‘BreakFree on Hindley’ accommodation complex and offers great buying for investors. In successful operation since 1991, the apartment is part of the Mantra Group, one of Australia and New Zealand’s largest leisure and corporate accommodation providers, operating a portfolio of around 140 properties. With the South Australian Tourism Commission’s 2009 to 2014 plan to achieve 6% annual growth in tourism and travel expenditure (to $6.3 billion), the past success has the backing to continue.

You can enjoy a healthy return on investment without any hassles – the property is subject to a long term lease and managed as short/medium term business and vacation accommodation. As the owner (strata title), you receive quarterly rental income from the net pooled hotel revenues. The income for the first quarter of 2010 was $3,767.76.

Based on a purchase price of $155,000 and past income, the forecast net return is approximately 7% plus depreciation benefits. Note that as a fully managed investment there is no option to live in this property or manage it privately – this investment requires no time or effort to maintain, just sit back and enjoy the income.

Summary:

* $14,169 approx gross return on 2008-2009 financial year
* Income based on a proportion of the group’s takings per quarter (not guaranteed set amount)
* Long term management lease (10+10+10) as hotel accommodation
* No option to live in and no option to rent privately
* Premium range of quality guest & business facilities
* Restaurant & licensed bar
* Desirable accommodation, lounge/dining area, fully equipped kitchen
* Individually controlled air-conditioning
* 24 hour reception

This property is proudly marketed by Alexander Ouwens & Martin Wylie from Brock Harcourts Adelaide. Please call us on 0433 599 343 or email on mwylie@brockharcourts.com.au to arrange an inspection of this property, we will be very happy to provide additional information on this investment opportunity. Our experience from both living and working around the CBD is your key to obtaining the right advice needed to make your move or to purchase your investment.

Alexander Ouwens & Martin Wylie, the Adelaide real estate agents and your guarantors of quality service & premier marketing.

General information:

C/T = 5061 / 282
Council rates = Adelaide/$865 pa approx
SA Water = $630 pa approx
Strata rates = $1,687 pa approx
Emergency services levy = $144 pa approx
Jan – Mar 2010 income = $3,767.76