4/21-39 Bentham Street, Adelaide SA 5000

Large top floor apartment in 'Franklin Central Apartments' with guaranteed returns, low outgoings, and tax depreciation benefits. It features an open living/kitchen area plus 3 bedrooms, master with en-suite and balcony. It is fully managed on a secure lease until 2017 (NB with hotel right to renew until 2022); note that you cannot live in this apartment until after the lease expires.

What we love about this property:

* Boutique apartments with niche clientele, rather than generic high-rise
* Central CBD location, high demand for accommodation
* Proven long term business and professional management team
* $31,158.50 approx per annum on a secure long term lease ($2,596.54 p/month)
* Annual rent increase (CPI or as per lease)
* Depreciation on 2009 refurbishment & plant and capital allowances
* Discounted stay in the hotel
* Nestled in quiet lane off Franklin Street (Bentham Street)
* Dishwasher & Microwave
* High speed internet, LCD cable TV
* On the market for definite sale*

A well presented boutique hotel with a great reputation and client base - interested parties may wish to look at positive TripAdvisor reviews online. Past buyers in the building have purchased for long-term investment with the option to live in a few years.

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 $1,578.45 per annum approx.
SA Water $310.78 per quarter approx.
ESL $612.55 per annum approx.
Body Corporate $1,024 per quarter (inc. sinking fund) approx.

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

OUWENS CASSERLY - MAKE IT HAPPEN