Management Rights - South Brisbane, QLD

South Brisbane, QLD

$2,000,000

Property Description

Fantastic Location in South Brisbane

A busy corporate let complex ideally located in the heart of booming South Brisbane . The business is ideal as most units are 1 bedrooms and studio unlikely to ever be sold to owner occupiers. The location is first class - minutes walk to the South Bank entertainment and conference precinct and the popular cultural hub of West End . The city is a mere 10 minutes walk. This property is a real alternative to a motel and will appeal to anyone looking for an inner city Brisbane cash flow business
Income $305,399
Unit $550,000
Business $1,450,000
Total $2,000,000
This is a 4.7 multiplier
P&L done by Sam Hodges of Mcadam Siemon
The BC Salary has gone up by $1,223 since the P&L was done.which has not been added in
Any reasonable offer will not not be rejected. Very motivated vendor
Please contact Robert Collins of RAAS on 0404678792 or robertc@raas.com.au
Financial Overview

Body Corp Salary:
55057
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
CPI
Net Profit:
$305,399
Manager's Unit Price:
$555,000
Management Rights Price:
$1,450,000
Letting Business

Est. Year Built: 2003
Total Units In Complex: 50


Inside Letting Pool

Permanent: 0
Holiday: 0
Corporate: 32
Total: 32

Outside Letting Pool

Lock Up: 0
Outside Agents: 6
Self Managed: 0
Owner Occpd: 12
Total: 18

Number & Type In Letting Pool
Number Type Features
16 1 Bed Units Fully Furnished
3 2 Bed Units Fully Furnished
13 1 Bed Studio Units Fully Furnished
Tariffs

Booking Type Details
Permanent
Corporate Variable
Holiday
Manager's Unit & Office

Manager's Unit Size: 2 Bedrooms , 2 Bathroom
Office Reception: Exclusive Use
Office Software: RMS
Office Hours: Nil
Storage: Plenty
Office Computer: One
Module: Accommodation
Agreement Term: 25 Years
Years To Run: 20 years
Manager's Unit Description: Unit fully carpeted and tiled. Large with attached court yard,air con,ensuite, a very desirable and liveable unit with two secure car space

Facilities

Pool: Yes
Spa: Yes
Gym: No
Tennis Court: No
Sauna: No
Foxtel: No
Cable Installed: Yes
Pets Allowed: Yes
Barbeque Area: Yes
Wireless: Yes

Other Facilities: This is a great business with loads of potential in one of the best locations in Brisbane. You are only a short walk from South Bank and West End.This offers great lifestyle as well as a lucrative business opportunity.Manager can have a pet with BC approval. Do not have to live on site and can rent managers apartment. Rental figures are not in P&L
Top up coming shortly so there will be 25 years to run of a 25 year agreement
This complex is GV complaint.

Property Agent

Robert Collins

Robert Collins

Phone: 0404 678 792
Office: 1300 282 370

Email Listing Agent

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