208/201 Hay Street, East Perth, WA, 6004

For Sale

208/201 Hay Street, East Perth, WA, 6004

$410,000

83 m²

Apartment

•

13 days on the market

What's around 208/201 Hay Street

INSPECTION BY APPOINTMENT ONLY

This listing is for a leased hotel apartment investment, not a property you can live in yourself. THIS PROPERTY IS FOR INVESTORS ONLY. INSPECTION BY APPOINTMENT This is a fabulous investment only opportunity ideal for a Personal Super Fund or CASH buyer, you can simply set and forget it. Securely leased to Panache Hotel Group The original lease for 3 years commenced 1/7/23 The rent is payable monthly in advance and a 3% increase applied each year. There are four lease option periods of three years each. Located within Mantra on Hay a premium short stay apartment development with exclusive onsite facilities. There is a Furniture, Fittings, and Equipment Reserve levy equivalent to 5% of lease payments for the upkeep of the lessors' furniture and chattels that is deducted from the monthly rent income to maintain the interior of the premises. Mantra on Hay is conveniently located in Hay St, East Perth close to Perth CBD, it's a perfect location and close to an easy walk to Langley Park and the Swan River with the lovely Queens Gardens a short 300 metres stroll away. A free CAT bus service stops nearby for easy access into the Perth CBD shopping precinct. The Hotel is a perfect residence for a short stay for holiday makers, travellers and business people. Well located in a key destination of East Perth with such easy access to the CBD this 2 bedroom 2 bathroom apartment in The Mantra Hotel in East Perth. You have nothing to do but simply collect the rent every month. The Panache Hotel Group does every thing here to look after your investment. Provides Great living space for guests to enjoy Internal living area 78sqm + balcony 7sqm Key points • Investor only: You are buying the apartment as an investment. You cannot occupy it yourself while the lease is in place. • Current lease: The apartment is leased to Panache Hotel Group, which operates it as part of the Mantra on Hay hotel. • Lease income: o Starting rent (from 1 July 2026): $31,667.28 per year o Rent is paid monthly in advance. o Rent increases by 3% annually. o There are 2 more options to extend the lease, each for 3 years (potentially up to a further 6 years total if all options are exercised). Income • Gross rent: $31,667.28 per year. • Expenses: $11,018.65 • Net rent: $20,648.63 per year. • The difference is due to deductions, including: • A 5% Furniture, Fittings & Equipment (FF&E) Reserve Levy, which funds replacement and maintenance of furniture and furnishings. • • Property Features • 2 bedrooms, 2 bathrooms • No car bay • Fully furnished & Equipped • 76 m² internal living area • 7 m² balcony • Split-system air conditioning • Laundry room • Hotel facilities • Guests have access to: • Heated indoor covered pool • Gym • Housekeeping • Conference facilities • Wi-Fi • Multilingual staff • Laundry service Lease Term 3 years + a further 2 X 3 year options with Annual Rent Reviews • High Occupancy level • Well maintained property Guest Services Include • Complimentary WIFI • Safety deposit boxes • Multilingual staff • Disabled facilities • Same day laundry service (Monday to Saturday) • Wedding facilities • Housekeeping • Indoor under cover heated pool • A range of Fitness Equipment • Undercover car parking availability – fee payable • Business facilities • Conference Room & facilities Well located in a key destination of East Perth with such easy access to the CBD this 2 bedroom 2 bathroom apartment is in The Mantra Hotel East Perth. You have nothing to do but simply collect the rent every month. The Panache Hotel Group does every thing here to look after your investment and manages day-to-day operations. Potentially attractive for an SMSF if it fits the fund's investment strategy and borrowing rules. The Net yield is 5.03% If you're considering buying this property, I can also help assess whether the asking price represents good value based on recent sales of similar Mantra on Hay apartments. Council Rates: $1598.45 pa Water Rates: $2205.76 pa Strata Fees: $1407.76 per quarter FF & E fund 5%: $1583.40 pa Contact Brent Morfesse the apartment sales specialist 0419 900 747 Disclaimer: This information is provided for general information purposes only and is based on information provided by the Seller 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 should make their own independent enquiries.