44/21-39 Bentham Street, Adelaide SA 5000

No longer available - an offer has been accepted.

An investment opportunity in 'Franklin Central Apartments' with high guaranteed returns, low outgoings, plus depreciation benefits. All buyers please note this is for investment only - there is a long-term lease with rights to renew until 2022. You cannot live here until lease expiry.

What we love about this property:

* Boutique apartments with niche clientele, rather than generic high-rise
* 62sqm of living space (approx.)
* Proven long term business and management team
* $15,552 per annum on a secure long term lease ($1,296 per month)
* Annual rent increase (CPI/as 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
* Conference facilities

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 $TBC per annum
SA Water $TBC per quarter
ESL $TBC per annum
Body Corporate $TBC p/quarter (inc. sinking fund)

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