INCREDIBLE BUSINESS FIRST TIME OFFERED
South Brisbane
FOR SALE $7,400,000
Brilliant short and long stay apartments in very strong corporate location. First time offered for sale. Beautifully presented throughout with a high 4.5 star quality. Opportunity to still grow this business.
Property Description
- Very good upside to increase short stay business
- Prime location off Go Between Bridge
- Quality presentation throughout
- Sustainable huge nett profit
- High Caretaking salary with light duties
- Long agreements 20 years plus
Pricing
Management Rights $ | $5,980,000 |
Managers Unit $ | $1,420,000 (3 units) |
Managers Lot/s $ | Office lease |
Total Price $ | $7,400,000 |
Management Rights Business Information
Location | South Brisbane |
Business Type | Mix of Short stay and long stay rentals |
Building Age | 2 to 5 years (3 Buildings) |
Building Levels/Floors | 10 floors |
Net Profit $ | $1,100,000 |
Caretaking Fee $ | $258,444 + GST |
Total Lots in Complex | 199 apartments + 2 retail lots |
Letting Pool Units | 154 |
Letting Agreement Term | 20 – 23 years |
Caretaking Agreement Term | 20 – 23 years |
Office Hours | as per letting agreements |
Property Features
Pool | 3 |
Sauna | |
Gym | 3 |
BBQ | 2 |
Conference Room | |
Cinema | |
Concierge | |
Car Parking | Secure basement carparking |
Other Features | Full security buildings |
Managers Units | 3 units – Refer Information Memorandum from Agents |
Beds | ** |
Bath | ** |
Car Spaces | 1 |
Features | ** |
Managers Office | Leased Retail Lot |
Size | 20 square metres |