518/61 Hindmarsh Square, Adelaide, SA 5000 - More Details
$300,000 - $320,000
Positioned within the highly regarded Mantra Hindmarsh Square complex, this fully furnished one-bedroom apartment with the added benefit of a secure car park presents an excellent opportunity for investors seeking a convenient, hands-off investment in one of Adelaide's most desirable CBD locations.
Located in the heart of Adelaide's vibrant East End, the apartment boasts an abundance of shopping, dining, entertainment and cultural attractions right at your doorstep. Just a short stroll away you'll find Rundle Mall, the popular cafes and restaurants of Rundle Street, the South Australian Museum, Art Gallery, Botanic Gardens, Adelaide Oval, Adelaide Zoo and the picturesque River Torrens Precinct.
Currently managed through the Hindmarsh Square Managed Investment Scheme, the apartments are operated as hotel rooms where the income is generated through a high occupancy pool scheme with generous return of approximately $24,714.78 per annum. That's an approximate 7.7 - 8.2% yield after Mantra have deducted their management and operating expenses!
*Please note, this apartment cannot be lived in as an owner occupier and is for investment purposes only.
Adding to the appeal, participating investors are entitled to 14 nights of complimentary accommodation each year, providing the opportunity to enjoy short stays in the heart of Adelaide for business or leisure, subject to the scheme's terms and conditions.
Successfully operating since approximately 2008, Mantra Hindmarsh Square offers a range of excellent guest facilities, including 24-hour reception, DJ's Diner & Bar, room service and a fully equipped gymnasium, ensuring guests enjoy a comfortable and convenient stay.
Inside, the apartment offers a spacious and practical open-plan layout, incorporating a comfortable living and dining area alongside a well-appointed kitchen. The generous bedroom provides a relaxing retreat, complemented by a centrally located bathroom and all the conveniences expected of quality hotel accommodation.
A particularly valuable feature is the inclusion of a secure car park, providing additional convenience in this highly sought-after CBD location where off-street parking is always in demand.
Further features include ducted reverse-cycle air conditioning, secure building access and lift facilities, ensuring comfort and convenience throughout the year.
Combining an outstanding East End location, established hotel management and the added benefit of secure parking, this is an excellent opportunity to secure a low-maintenance investment in the heart of Adelaide.
Contact Toby Shipway today for further information.
All information provided has been obtained from sources we believe to be accurate, however, we cannot guarantee the information is accurate and we accept no liability for any errors or omissions (including but not limited to a property's land size, floor plans and size, building age and condition). Interested parties should make their own inquiries and obtain their own legal advice. Should this property be scheduled for auction, the Vendor's Statement may be inspected at the Ray White Adelaide City office (2/127 Hutt Street, Adelaide) for 3 consecutive business days immediately preceding the auction and at the auction for 30 minutes before it starts.
RLA307896.
- Type
- Apartment
- Bedrooms
- 1
- Bathrooms
- 1
- Parkings
- 1
