208/201 Hay StreetEast Perth WA 6004
Property Details for 208/201 Hay St, East Perth
208/201 Hay St, East Perth is a 2 bedroom, 2 bathroom Unit and was built in 1997. The property has a land size of 83m2 and floor size of 76m2. While the property is not currently for sale or for rent, it was last sold in July 1995.
Last Listing description (August 2026)
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 m internal living area
7 m 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.
Property History for 208/201 Hay St, East Perth, WA 6004
- 27 Jul 2026Listed for Sale $410,000
- 10 Jan 2025Listed for Sale Offers from $350,000
- 10 Feb 2006Listed for Sale Not Disclosed
Recent sales nearby
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About East Perth 6004
The size of East Perth is approximately 3.2 square kilometres. There are 21 parks, covering nearly 33.5% of the total area. The population of East Perth in 2016 was 10596 people. By 2021 the population was 11681 showing a population growth of 10.2% in the area during that time. The predominant age group in East Perth is 30-39 years. Households in East Perth are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in East Perth work in a professional occupation.In 2021, 36.40% of the homes in East Perth were owner-occupied compared with 37.60% in 2016.
East Perth has 8,420 properties. Over the last 5 years, Houses in East Perth have seen a 26.09% increase in median value, while Units have seen a 54.06% increase. As at 31 July 2026:
- The median value for Houses in East Perth is $1,520,910 while the median value for Units is $756,759.
- Houses have a median rent of $1,100 while Units have a median rent of $750.
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