Guaranteed returns from Panache Hotel Group - INVESTMENT ONLY PROPERTY (not possible to live in)

ZONED FOR SHORT-STAY ONLY (please do not ask regarding living as Council will not allow permanent residence - not approved for normal residence )

Fantastic opportunity to invest! Look no further and check out 710/201 Hay Street, this service apartment in the successful Mantra Hotel complex could become yours. Don't miss out on this exceptional two-bedroom and two-bathroom apartment situated in the heart of East Perth. With a long term fixed lease agreement with Panache Hotel Group in place, you will receive guaranteed and immediate returns.

DETAILS:
1) This apartment is council approved for Short-Stay only - which means nobody can ever live in permanently.

2) Long-term lease to hotel for running their short-stay business - you are not allowed to stay in the apartment except for 5 days of complimentary stay every year.

3) Hotel has 4 options to renew (3 year per option) for total of a 12 year fixed lease. After 12 years you can choose to sign a new hotel lease or manage it yourself as a Short-Stay only.

4) Guaranteed rental income of $2,710.60 per month with yearly 3% increase. This is a Gross amount. Owners pay for strata levy, council rates and water rates. Estimate net income of around $21,700 per annum.

5) The rental amount paid to you is guaranteed as all hotel revenue goes into a pool and vacancy rate of your apartment will not affect the fixed payment to you.

6) Please note this property suits cash buyer, commercial loan or residential loan up to MAX of 50% LVR with CBA only. You will not be able to borrow over 50% LVR for residential loan.

7) Hotel runs their business for the next 12 years and pays you a fixed and guaranteed income with yearly increase - please don't ask about living in there, the hotel pays you rental for a reason.

Features and Rates (Estimated):
- Internal: 77sqm | Balcony: 4sqm | Total: 81sqm
- Strata: $1,791.82 per quarter | Council: $1,476.65pa | Water: $2,094.33pa
- Guaranteed rental income of $2,710.60 per month with yearly increase
- Level 6
- West Orientation
- Built: 1997
- Zoning: Short Term Residential (Strata)
- Council: City of Perth
- Total Strata Lots In Complex: 142
- Facilities: Pool and gym

Walking distance to fantastic amenities and attractions, including (Approximately):

- 42m to closest bus stop
- 130m to closest cafe - Deli Italia
- 170m to Post Office
- 62m to Carlton Fresh Supermarket
- 600m to Mercedes College
- 450m to Langley Park
- 500m to Queens Gardens
- 950m to Claisebrook Cove
- 1.2km to McIver train station
- 1.4km to Hay Street Mall
- 1.1km to Trinity College
- 1.5km to Matagarup Bridge over the Burswood
- 1.8km to Elizabeth Quay

Contact Exclusive Selling Agent Allen Ang on 0403 286 492 to arrange your inspection.

Disclaimer: Buyers are required to rely on their own research and complete due diligence prior to purchasing. All rates, sizes and distances are estimated and subject to change at all times without notice.

Features