This is a rare opportunity to acquire premium short-stay apartments within the highly regarded Forbes Residences in blue-chip Applecross - structured specifically for investors seeking stable, low-maintenance, long-term returns.
Offered together are two near-new, adjacent apartments on Level 2 at 10 Forbes Road, both currently secured under a long-term management lease with guaranteed income through to 2030, with an option to extend for a further five years.
The portfolio consists of two dual-key apartments (210/210S and 211/211S), each configured as a one-bedroom apartment plus a separate studio. These can be leased individually or as combined two-bedroom suites, providing operational flexibility while remaining on a single strata title - an efficient structure that helps minimise strata fees and holding costs.
Returns are fixed under the lease and indexed annually to CPI, providing income certainty regardless of occupancy levels. Importantly, all day-to-day cleaning and ongoing furniture refurbishment costs are fully covered by the lessee, ensuring ownership remains genuinely hands-off with minimal ongoing financial outlay. The complete furniture, appliance & equipment inventory is included with the sale of each apartment.
Additionally there is no management fee paid on the lease returns.
At the conclusion of the lease term, owners retain flexibility - continue with short-stay management or transition the apartments to standard strata-titled use, including long-term leasing or personal use.
With a premium building, established corporate short-stay demand, and a tightly held Applecross location, these apartments also offer strong prospects for capital growth over the life of the investment.
. Investment Highlights
• Fixed income with annual CPI indexation
• Lease secured through to 2030 + extension options
• Occupancy, cleaning, and FF&E refurbishment covered by lessee
• Premium short-stay demand in blue-chip Applecross
• Dual-key apartments on single strata titles
• Efficient holding costs and simplified ownership
• Fully furnished - complete inventory included
• Strong long-term capital growth fundamentals
• Flexible exit options at lease expiry
For investors seeking predictable income, low involvement, and long-term security, this is an opportunity rarely available.
Contact Gary Dundon on 0478 950 811 to arrange a private inspection and receive a copy of the management lease.
Strata Fees: $899.37 per quarter ( Ex GST)
Rates & Local Information:
Water Rates: $1,957.71 (2024/25)
City of Melville Council Rates: $2,055.60 (2025/26)
Zoning: RACO
Primary School Catchment: Applecross Primary School
Secondary School Catchments: Applecross Senior High School
DISCLAIMER: Any floor or building area figures stated in this advertisement represent a calculation of the total lot area, which may include balconies, car bays, storage areas, and other spaces in addition to internal living space. Prospective buyers are advised to refer to the strata plan to verify the specific areas comprising the total figures provided. Furthermore, all information contained in this advertisement is provided for general information purposes only and is based on information supplied by third parties, including the Seller and relevant local authorities, and may be subject to change. No warranty or representation is made as to its accuracy, and interested parties should place no reliance on it and are encouraged to undertake their own independent enquiries.
