50/61 Hindmarsh Square

Adelaide SA 5000

- high income-generating investment, with steady returns as evidenced by accounts from previous financial years;
- owners are entitled to 14 nights' FREE accommodation in Mantra Hindmarsh Square per annum (perfect for interstate or country investors);
- apartment comes fully furnished;
- no-maintenance concerns (Mantra look after maintenance - this cost comes out prior to the owner's distribution) or tenant selection headaches that are standard fare with the average residential property.
Please note that Mantra Hindmarsh Square is intended to operate as a 4.5 star hotel - potential investors should view this property as an opportunity to acquire a long-term, no-maintenance investment, not as the acquisition of a residence.
INCOME
Distributions for 2012/2013 FY totaled $18,413.91.
OUTGOINGS
Emergency Services Levy: $854.25
Council rates: $1,277.40
SA Water rates: $816.60
Strata fees (includes sinking fund levy): $1,809.28
Total Outgoings: $4,757.53
Safewealth Realty recommends that investors seek professional advice prior to purchasing a property. For more information please view Form R7 at www.cbs.sa.gov.au.
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FAQ
Please read this section prior to making an enquiry.
Q: Can I live in Mantra Hindmarsh Square?
A: Yes, if you purchase an owner-occupier unit, which this apartment is not. It forms part of the Mantra Hindmarsh Square Managed Investment Scheme, and should be considered as an investment opportunity only.
Q: Does Mantra lease the apartment from the owner?
A: No, Mantra does not lease the apartment. This apartment comprises part of the Mantra Hindmarsh Square Managed Investment Scheme. Mantra is appointed as Hotel Operator by the Scheme Manager to look after the day-to-day running of the hotel. The Scheme Manager then distributes the pooled hotel room revenue to the owners at the end of each month.
Q: How does my apartment earn income if there is no lease?
A: At the end of each month, the pooled hotel revenue (net of credit card charges) is paid into a revenue account held by the Scheme Manager. The Scheme Manager then distributes the income on a unit entitlement basis. In other words, you earn a proportion of the income earnt by the hotel, and this varies with the hotel occupancy rate, not the occupancy rate of your individual apartment.
Q: If I decide to use some or all of my free accommodation, will I be able to stay in my particular apartment?
A: Whilst you can request to stay in your particular apartment, this is unlikely to occur - when you request free accommodation, Mantra will consider room availability across the entire hotel and endeavour to fulfil your request with the best room available. Please contact the agent for more information on the free accommodation entitlement.