Sold
What a fantastic opportunity to secure this great investment property in the heart of the Adelaide CBD.
You do not want to let this one go with a gross yield return of 8.13% (approx.) and gross income over FY 15/16 of $15,033.89 ($289.11 per week).
It is not easy to find an investment that can return this type of income especially when it's at such an affordable price. Better than your money sitting in the bank.
This is a simple investment, you are not faced with the challenges & risks of an ordinary residential property. Owners are not responsible for appointing agents, finding tenants or handling maintenance. MHSMIS operates as a 4.5 star hotel and is a hassle-free investment.
This one bedroom apartment is part of the Mantra Hindmarsh Square Managed Investment Scheme (ARSN 089 814 193) (MHSMIS) and should be viewed as an opportunity to acquire an investment apartment, not a residence.
A refurbishment was completed in February 2014 and this fantastic one bedroom apartment is for sale fully furnished.
Rates and taxes (ESL, SA Water, council and Community Corporation) are available on request.
Interested parties should also consider the impact of income tax and land tax in their calculation of a net return. These will vary depending on personal circumstances and holding structure.
Why invest in MHSMIS?
- high income-generating investment, with steady returns as evidenced by accounts from previous financial years;
- owners are entitled to 14 nights' FREE* accommodation in Mantra Hindmarsh Square per annum (perfect for interstate or country investors);
- apartment comes fully furnished;
- no-maintenance concerns or tenant selection headaches that are standard fare with the average residential property.
LJ Hooker St Peters encourages you to seek professional advice prior to purchasing a property. You should assess the suitability of any purchase of the land or business in light of your own needs and circumstances by seeking independent financial and legal advice. For more information please view Form R7 at www.cbs.sa.gov.au.
* contact Agent for further information. Some charges, including utilities, GST, Sq restaurant and mini-bar still apply.
****************************************************************
FAQ
Please read this section prior to making an enquiry.
Q: Can I live in Mantra Hindmarsh Square?
A: Yes, but only if you purchase an owner-occupier unit. This is not an owner-occupier unit.
Q: Is Lot 94 an owner-occupier unit?
A: No, this apartment is part of the Mantra Hindmarsh Square Managed Investment Scheme (MHSMIS) and should be considered as an investment opportunity only.
Q: What is the term of the lease?
A: There is no lease per se; rather, MHSMIS appoints a hotel operator (in this case Mantra) to manage the day-to-day running of the hotel. Please contact the Agent for more information about the operation of MHSMIS.
Q: How does my apartment earn income if there is no lease?
A: At the end of each month, the pooled hotel revenue (net of credit card charges) is paid into a revenue account, and income is then distributed on a unit entitlement basis (a fixed percentage share). Owners earn a proportion of the income earnt by the hotel, which varies based on the occupancy rate of the entire hotel, not your individual apartment.
Q: If I decide to use some or all of my free accommodation, will I be able to stay in my apartment?
A: Yes, you may be able to stay in your apartment. However, you can also stay in an alternative apartment - when you request free accommodation, Mantra will consider room availability across the entire hotel and endeavour to fulfil your request with the best room available. Please contact the Agent for more information on the free accommodation entitlement.
RLA 61345
Disclaimer:
**HELP PREVENT the spread of COVID-19. LJ Hooker Adelaide Metro have implemented extra precautions to our inspections and auctions. We respectfully ask if you are feeling unwell, have travelled overseas in the past 14 days or been in contact with a confirmed case of COVID-19 in the last 14 days, please contact our sales consultant to discuss alternative ways to view the property. If in the event that you feel unwell in the 14 days following an inspection, we request that you contact our office immediately.**
2A Portrush Road, Payneham SA 5070
(08) 8362 8008
DAVID SCALAMERA
0422 545 495
