A101/16 Dolphin Drive, Mandurah WA 6210

Fantastic returns and long lease .

INVESTMENT ONLY APARTMENT. On a commercial lease returning NETT 7 percent per annum.

That is correct 7 Percent NETT !

Being the caretakers apartment and zoned appropriately as the caretakers apartment all outgoings are paid by the strata company.

It is fully maintained by the strata company as per the lease.

The long lease as caretakers apartment was required by Department of Planning in the Seashells Resort Complex's original approval. It is a 25 year lease with 2 by 25 year options signed in 2006. So there is 8 years remaining on the first term and 2 further 25 year options.

Current return is $27,040 per annum with the next market review due in 2026.

Situated on the first floor, the unit has its own kitchen , bathroom with spa , 2 good size bedrooms and a terrace with water views.

Also, unlike most apartments in Seashells, there are 2 car bays and a storeroom undercover allocated on the strata plan.

Its a superb complex SITUATED RIGHT ON THE BEACH with infinity edge swimming pool, tennis court, barbeque facilities.

Rental invoices are issued quarterly and Rates / Land tax invoices issued annually. Talk about SET AND FORGET.

IDEAL SUPER FUND INVESTMENT.

The owners reserve the right to accept an offer prior to the closing date. Obviously it would need to be a very good offer for them to do so.

To view call GARY WARNE