RESIDENTIAL AND SHORT STAY OPPORTUNITY
Melbourne
$850,000
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
| 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
| Location | Melbourne |
| Business Type | Mixed use opportunity (Residential and Short Stay) |
| Building Age | 1st settlement Feb 2018 |
| Building Levels/Floors | 4 and 5 Levels |
| Net Profit $ | Projections |
| Caretaking Fee $ | $101,000 pa CPI increases |
| Total Lots in Complex | 134 (1,2 & 3 Bedroom) |
| Letting Pool Units | Projected 85 |
| Letting Agreement Term | 25 Years (5+5+5+5+5) |
| Caretaking Agreement Term | 25 Years (5+5+5+5+5) |
| Office Hours | No set hours |
Property Features
| Pool | |
| Sauna | |
| Gym | |
| BBQ | |
| Conference Room | |
| Cinema | |
| Concierge | |
| Car Parking | Secure onsite parking |
| Other Features | Roof Deck; Striking Architecture. Close to Monash Uni and Excellent Shopping. Transport very close |
| Managers Units | No Unit to purchase with the Business |
| Beds | N/A |
| Bath | N/A |
| Car Spaces | N/A |
| Features | N/A |
| Managers Office | |
| Size | 15 square metres |
Management Pricing
Total Price $850,000
Property Enquiry
Property Agent
Rod Askew
Director
07 3554 0040
Phil Robison
Management Rights Sales Executive | Melbourne
07 3554 0040
