1605/96 North Terrace, Adelaide

Property ID: 1P0251

$760,000 - $795,000
  3   2   2
Type
Apartment
Contract
For Sale
Garage
2
 

3 Bedroom Sub-Penthouse Apartment with nearly 105 sqm of living plus a huge 68 sqm balcony!

Directly opposite the Convention Centre and the Adelaide Riverbank Precinct also located just minutes walk away from Adelaide Oval, Royal Adelaide Hospital, Exhibition Centre and Adelaide Casino. With 2 car parks!

Completely refurbished throughout and fully furnished, this spacious 3 bedroom apartment offers an exclusive city lifestyle in Adelaide's most sort after CBD location. Positioned on the 16th floor with floor to ceiling windows framing the amazing 270 degree views over the West End, the Adelaide Hills, summer sunsets over the ocean and the north facing views over Adelaide Oval and the River Torrens.

Everything the city has to offer is right at your doorstep. A short 50 metre walk over North Terrace will take you to the Adelaide Riverbank Precinct home to Adelaide Oval, Convention Centre, Festival Theatre, Adelaide Casino and a much more.

Less than 500 metres away you'll find the new Royal Adelaide Hospital with the Medical Precinct adjacent. Education facilities here include the the University of Adelaide's medical and health sciences building and UniSA's City West campus, Health and Medical Clinic. Adelaide TAFE is also very close by with secondary education zoning for Adelaide High School and the new Adelaide Botanic High School.

First Class restaurants and bars are just a short walk away and gourmet shopping at nearby Central Markets and Gouger Street. Adelaide University, University SA and TAFE are all very close with secondary education zoning for Adelaide High School. Transport options easily accessible with the tram, Adelaide Train Station and major bus stops only a minute away.

Inside the apartment has just been refurbished and is next to new condition with new carpets, fresh paint job, LED downlights throughout and new stainless steel oven, gas cook top and rangehood exhaust fan. The apartment is immaculate condition and furnished with absolutely everything included leaving the new owner nothing left to do but move in and enjoy a wonderful no maintenance lifestyle.

The generous accommodation comprises of light filled open plan living and dining with stunning views from every angle and direct access to the huge wrap around balcony complete with an outdoor spa. An absolute mecca for entertaining guests. The kitchen is well appointed with new appliances, Caesarstone benchtops, glass splashback and is host to some inspiring views while you cook.

All 3 bedrooms are great size all with king size bed suites and built in robes, the main bedroom also with a stunning ensuite complete with a spa bath, separate shower, his and hers basins and floor to ceiling tiles. The second bathroom is conveniently located as a guest bathroom and easily accessible for bedrooms 2 and 3.

Further features include a European style laundry with a washing machine, ducted reverse cycle air conditioning, excellent security with a swipe card system, video intercom and 24 hour reception in the recently refurbished foyer. The complex also provides free access to the revamped resort style facilities complete with indoor heated lap pool, spa, sauna, and gym.
All of these excellent luxuries are maintained through the community fees.

A rare attribute with city living, this apartment also features 2 internal car parks with direct access from the car park via the swipe card activated lift straight to your floor.

Currently tenanted through the Oaks Hotels and Resorts with a 50/50 return based on occupancy. Please note this return is temporary due to COVID-19 and should return by September/October to the 12% management scheme.

Previously returning an average return of $48,643.54 per annum after the Oaks have deducted all operating expenses, lease the apartment on a long term tenancy agreement or manage the apartment yourself on a short term basis through companies such as Airbnb and Stayz.

**Apartments purchased for investment purposes only and leased on a short term basis as a serviced apartment are eligible for Stamp Duty Exemption (Subject to Revnue SA Approval). For further information please go to the RevenueSA website - Stamp Duty on Transfer of Real Property (Land).**

This stand out property is one not to be missed and will be highly sought after by investors, executive couples, retirees, semi-retirees and those just looking for a secure, lock up and leave city lifestyle. Be quick to secure this wonderful opportunity!

PROPERTY INFORMATION:

Certificate of Title: Volume 5864 Folio 36

Council: City of Adelaide

Council Rates: $2,571.00 per annum (approx.)

Water Rates: $227.25 per quarter (approx.)

ESL: To be advised

Community Rates:
Admin: $2,191.00 per quarter (approx.)
Sinking: $734.00 per quarter (approx.)

Features

-Built-In Wardrobes
-Pool
-Intercom