A straightforward investment opportunity within Oaks Melbourne on Market, positioned in the heart of Melbourne's CBD.
This approx. 37m² serviced hotel apartment is securely leased to the hotel operator, providing consistent rental income without the day-to-day management associated with a conventional residential investment.
Investment Highlights
- Annual Rental Income: $16,119.96 p.a.
- Monthly Rental Income: $1,343.33
- Current Lease: Secured until 31 August 2031
- Apartment Size: Approx. 37m²
- Serviced Hotel Apartment within Oaks Melbourne on Market
- Approx. Net Rental Yield: 7.3% – 8.1%*
- Rental increases provided for under the lease
- Established hotel operator providing ongoing management
- Prime Melbourne CBD position on Market Street
- Moments from Collins Street, Flinders Street, Southbank and the Yarra River
- Access to hotel facilities including an indoor heated pool, spa, sauna, gym, restaurant and 24-hour reception
Outgoings & Operator Responsibilities
Under the current lease, the hotel operator is responsible for applicable recoverable outgoings, including ordinary Owners Corporation contributions, Council Rates and Water Rates.
Current property outgoings are approximately:
- Owners Corporation: $5,097.85 p.a.
- Council Rates: $932.58 p.a.
- Water Rates: $1,220.66 p.a.
- Total Property Outgoings: $7,251.09 p.a.
These expenses are charged against the property; however, applicable non-capital outgoings are recoverable from the hotel operator under the terms of the lease.
Special Levy
- Lift and cladding replacement special levy currently applies
- 6 remaining instalments of $117.55
- Total remaining disclosed levy: $705.30
An attractive opportunity for investors seeking consistent income, professional hotel management and a central Melbourne CBD location.
*Rental yields are approximate only and calculated using the current rental income and identified owner-paid/non-recoverable costs at the nominated purchase-price range. Purchasers should make their own enquiries regarding the lease, recoverable outgoings, special levies, taxation and other ownership costs.*
Harcourts Melbourne City, Estate Agents, specialising in sales & leasing of Warehouse, Heritage, Unique – WHU properties in Melbourne’s inner city. For information on inner city property for sale or rent or for expert real estate advice visit: melbourneharcourts.com.au or phone us on 03 9664 8100 Whilst every care is taken to ensure accuracy of the sizes, plans & information contained herein no guarantees or warranties are given. Clients are required to make their own investigations, carefully check the formal legal documentation & seek independent professional legal advice.
