Fully leased 2br apartment & car space near Circular Quay - $800000

Description

Attention : Investors and Superannuation Funds! This smart two bedroom apartment and car space is located on the 14th floor of the 4.5 star "Mantra" building, situated on the corner of George and Bond Streets, in the northern CBD. It is leased back to the Hotel on revolving 3 year commercial leases at fixed term rents. The present lease expires on 10 August 2010 with an option for a further 3 year term. The fixed rent is $4,249.59 paid directly into the owners' Bank account each month. The owner receives this exact amount regardless of whether the apartment is occupied or vacant throughout the lease term. Statutory owner expenses comprise: Strata levy (including car space) $1,273.94 quarterly Council rates $650 year Water rates $550 year The lease provides for the owner to terminate the lease at any time they wish to by giving six months notice to the Hotel. Owners may then occupy the apartment themselves, or lease it privately. There is no obligation to lease the property to the Hotel. This is just one of the available options. Owners who occupy the property can enjoy all the facilities of a 4.5 star Hotel without leaving home! These include room service food & beverage facilities, housekeeping services, the Lobby restaurant, gymnasium, rooftop pool, spa and BBQ facilities. A tremendously flexible investment property or home in the blue chip northern CBD.