Estimate as a short term rental outside the hotel, $66,000 - $71,000 per annum ( Figures calculated AFTER platform booking fee and management commissions, 7.5 - 8.1% Net Returns) with option to use yourself in between guests.
Rarely offered to the market, this one bedroom apartment is ideally located in the premium end of the city, only moments to Circular Quay, The Rocks, Wynyard, and a plethora of high-end restaurants, retail, and night spots.
The CBD light rails is at your door and Wynyard, Circular Quay train stations are only a few minutes' walk. Hotel conveniences, including roof-top pool, gym & hotel restaurant/bar and Concierge.
The option to take the unit out of the hotel arrangement and run as a serviced apartment/Airbnb, Mantra is one of only a handful of Airbnb friendly buildings in the CBD . Immaculately presented apartment, fully furnished and equipped. the building features pool & spa with stunning views, sun-deck, gym
- Current rental = $41,383.62 per annum
- Estimate as a short term rental outside the hotel, $66,000 - $71,000 per annum, with option to use yourself in between guests
- The current lease to Saville Hotel Group Pty Limited (part of the Mantra / Accor Group) commenced on 11 August 2024 and ends on 10th August 2028. The lease also grants an option to renew for a period of five years, plus a further five years.
- CPI review dates are in August 2025, 2026 & 2027, and 2029, 2030, 2031 & 2032 under the first option, and 2034, 2035, 2036 & 2037 under the second option.
- Market Review Dates are 11 August 2028 under the first option, and 11 August 2033 under the second option.
- Owner may terminate the lease at any time by giving six months written notice
- Strata: $1,649 p/q, Council: $264 p/q, Water: $208.77 p/q approx.
Please contact Bryn Fowler on 0423 663 663 or email bryn@sydneycoveproperty.com
All information contained herein is gathered from sources we deem to be reliable, however, we cannot guarantee its accuracy and interested persons should rely on their own enquiries.
