15/21-39 Bentham Street, Adelaide SA 5000

No longer available - offer accepted - contact us for other high yield investment properties in this building.

An investment opportunity in 'Franklin Central Apartments' with fixed agreed returns, low outgoings, and depreciation benefits. All buyers please note this is a serviced apartment with long-term lease until 2017 (NB hotel has right to renew to 2022). You cannot live in this apartment until the lease expires.

What we love about this property:

* Boutique apartments with niche clientele, rather than generic high-rise
* 63.81 sqm of living space
* Proven long term business and management team
* $20,772.59 approx. per annum on a secure long term lease ($1,731.04 per month)
* Annual rent increase (CPI/agreed per lease)
* Depreciation on refurbishment & plant and capital allowances
* Building write off allowance per annum
* Discounted stay in the hotel
* New cafe in foyer
* Nestled in quiet lane off Franklin Street (Bentham Street)
* Dishwasher & Microwave
* High speed internet
* LCD TV
* Foxtel

A well presented boutique hotel with a great reputation and client base. When comparing investment properties, consider the whether the income is fixed - this property does not rely on pooled occupancy revenue for your income.

Please call or enquire to arrange an inspection - out of respect for hotel operations, weekday lunchtimes are ideal and allow management to continue to generate revenue.

Outgoings:
Council $1,356.50 per annum approx.
SA Water $234.71 per quarter approx.
ESL $398.25 per annum approx.
Body Corporate $718.70 p/quarter (inc. sinking fund)

Note that you must seek your own specific advice in relation to tax benefits and depreciation schedules.