Property Description

Hue and Portrait Apartments are 2 developments being sold as the one management rights business. The 2 complexes are just 2 klms apart and represent a superb opportunity to enter the desirable Melbourne management rights market. The first settlement will be Portrait Apartments in February 2018 followed by Hue Apartments in February 2019. Both Carnegie and Hughesdale are affluent suburbs just East of the Melbourne CBD and offer retail and entertainment lifestyle. Great businesses such as these are a rare find and the developer is keen to find an enthusiastic and dedicated manager to take on the two buildings

  • Total 134 Apartments
  • Estimated 85 rentals
  • Opportunity for residential or short stay letting
  • Caretaking fee of $101,000 PA
  • No Unit to buy with the business
  • First settlement February 2018

Pricing

NOTE: All property and business information and pricing is correct at the time of going to market. Please contact us for the detailed information memorandum.
Management Rights $$850,000 paid in two stages
Managers Unit $ No unit to purchase
Managers Lot/s $Office Lot
Total Price $$850,000

Management Rights Business Information

NOTE: All property and business information and pricing is correct at the time of going to market. Please contact us for the detailed information memorandum.
LocationMelbourne
Business TypeMixed use opportunity (Residential and Short Stay)
Building Age1st settlement Feb 2018
Building Levels/Floors4 and 5 Levels
Net Profit $Projections
Caretaking Fee $$101,000 pa CPI increases
Total Lots in Complex134 (1,2 & 3 Bedroom)
Letting Pool UnitsProjected 85
Letting Agreement Term25 Years (5+5+5+5+5)
Caretaking Agreement Term25 Years (5+5+5+5+5)
Office HoursNo set hours

Property Features

Pool
Sauna
Gym
BBQ
Conference Room
Cinema
Concierge
Car ParkingSecure onsite parking
Other FeaturesRoof Deck; Striking Architecture. Close to Monash Uni and Excellent Shopping. Transport very close
Managers UnitsNo Unit to purchase with the Business
BedsN/A
BathN/A
Car SpacesN/A
FeaturesN/A
Managers Office
Size15 square metres

Management Pricing

Total Price                        $850,000

Property Enquiry

1 + 7 = ?

Property Agent

Rod Askew
Director

07 3554 0040

Phil Robison
Management Rights Sales Executive | Melbourne

07 3554 0040

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