Located at 317/2-6 Pilla Avenue, New Port, the premium two-bedroom, two-bathroom residence is being marketed by Ray White Semaphore sales agents Kate Smith and Kate Richards, with best offers closing on 16 November.

Currently leased to corporate tenants at $1,200 per week ($62,400 per annum) through to August 2028, the home delivers an estimated eight per cent net return after strata and council rates.

Spanning 117sqm of living space, the layout is one of the largest two-bedroom floorplans constructed in the precinct and comes with the option to purchase fully furnished and equipped down to electronics and housewares.

Seller Liz James, who has owned the residence since 2019 and lived there prior to leasing it, is selling to enter retirement.

She said that surging activity across major infrastructure and defence initiatives - such as the Osborne Naval Shipyard expansion and the North-South Corridor project - has driven executive rental demand to unprecedented heights.

“I have been renting it out to corporates, fully furnished and equipped since 2020, and I have never seen demand as strong as it is right now,” Ms James said.

“I get calls every single week from contractors and international personnel, including defence teams arriving every six months.”

Beyond its commercial performance, the residence balances executive appeal with resort-style living.

There are two secure underground car parks with direct lift access, CCTV and intercom security, and exclusive complex amenities including an indoor pool, spa, sauna, steam room, and gym.

Inside, the master bedroom includes a private ensuite, complemented by a central main bathroom with a luxury spa bath, while the private entertainer’s balcony captures uninterrupted views across the Port River and historic Hart's Mill.

“I lived here with my son and our dog, and the sense of security gave us total peace of mind,” Ms James said.

“The lifestyle is incredible. Some of my fondest memories are simply sitting with a cup of tea on the balcony and watching the dolphins swim down the river.”

The property serves as a compelling entry point for first-home buyers seeking a self-funding asset, as well as downsizers looking to bank strong yields before transitioning into a coastal retreat, Ms James said.

“For a young buyer wanting to get ahead, it’s exceptionally positively geared - the corporate rent pays down the mortgage,” Ms James said.

“It’s also ideal for downsizers who can secure solid rental returns now and transition into a luxury lock-and-leave coastal home in a few years.”

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