It is generally acknowledged that Canberra, being the seat of the federal government and, therefore, a 'Public Service City' is less affected by the current global financial situation than much of the rest of the country. Regardless of the peaks and troughs in the economy, the business of government continues and that means there will always be a constant stream of people coming to the Capital for meetings with all levels of the bureaucracy.
Add to this the increasing number of tourists that visit the ACT each year (think 'Floriade' as an example), it becomes apparent that an interest in the accommodation sector is very worthwhile.
This fully furnished and fully serviced hotel apartment could be your entry to this lucrative niche in the hospitality industry.
Located in the Capital Executive Apartments, one of the first and most prominent developments seen by tourists entering the city by road, the complex offers, as part of its 4* rating, an award winning Italian restaurant, spas, sauna and gymnasium and is no more than 10 minutes walk to the city centre and 10 minutes drive to the Parliamentary Triangle and most government departments.
Its progressive management has also ensured that the apartments attract not only the local market (Canberra has the highest 'per head' disposable income in the country) and national visitors but, being part of the Choice Hotels Australasia marketing group, have significant international exposure.
This apartment is returning to its owner $1053 per month after payment of a monthly $129 administration fee which covers the day to day running of the hotel and contributions to the Repair and Redevelopment Fund. EER 6.0
Other expenses - body corporate fees, land tax, rates, etc - currently average $383 per month thereby giving a net monthly income of $670 ($8040 per annum). A detailed breakdown of expenses is available on request.
The owners are looking to significantly restructure their investment portfolio so if you are one of the many superannuants (or soon to be's) that has been disadvantaged by a loss in value in your super funds recently, take control of your future, make your own decisions and reap the benefits.
