Management Rights - Kangaroo Point, QLD

Kangaroo Point, QLD

$0

Property Description

Boutique Hotel Management Rights in Kangaroo Point

This is a well run hotel There is unlimited future growth for this complex. It has well established corporate clients and a restaurant and bar that has considerable expansion available.

Please contact Exclusive Agent Robert Collins on 0404678792 or robertc@raas.com.au
Financial Overview

Body Corp Salary:
123538
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
CPI
Net Profit:
$0
Manager's Unit Price:
$725,000
Management Rights Price:
$0
Letting Business

Est. Year Built: 1998
Total Units In Complex: 40


Inside Letting Pool

Permanent: 0
Holiday: 0
Corporate: 39
Total: 39

Outside Letting Pool

Lock Up: 0
Outside Agents: 0
Self Managed: 0
Owner Occpd: 1
Total: 1

Number & Type In Letting Pool
Number Type Features
40 1 Bed Studio Fully Furnished, air con, kitchen.
7 1 Bed unit Fully Furnished
1 2 Bed unit Fully Furnished
Tariffs

Booking Type Details
Permanent S$300 per week 1 Bed $380 per week 2 Bed
Corporate Corporate $150-$265 per night
Holiday nil
Manager's Unit & Office

Manager's Unit Size: 3 Bedrooms , 2 Bathroom
Office Reception: On Title
Office Software: Hirum,
Office Hours: Nil
Storage: Plenty
Office Computer: Yes
Module: Accommodation
Agreement Term: 25 years 25 Years
Years To Run: 20 years, 12 Years
Manager's Unit Description: Three bedroom,ground floor two bathroom, air con to all rooms, wooden floors, balconies, ceiling fans, 196 SQ MTS. This is a large homely apartment.

Facilities

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

Other Facilities: Pet with BC approval.
This complex is being offered for for sale You are buying a successful short term boutique hotel that has long term rentals as well as a restaurant and bar . All equipment including kitchen, bar, office, cleaning, and gardening is included. Right in the middle of busy Kangaroo Point. Real estate Lot 1 the managers residence $500,000, Lot 34 Restaurant and bar $225,000 Total $725,000 for the lot, Income conservatively P&L shows more .
There is a contiguous complex next door that is permanent but all Form 6 have both permanent and short term on them. They are fully furnished. Solitude consists of 8 x 1 and 2 bedroom rentals and a total of 28 units in the complex with a pool only. Both complexes are GV complaint . Solitude has 13 years to run on a 25 year agreement and The Wellington has 18 years to run of a 25 year agreement. Both complexes are being offered on an as is bases. This business was running at more than double the current income several years ago. This business has an unbelievable up side for the astute buyer.
BC for The Wellington is $83,138 and for Solitude $40,400

Property Agent

Robert Collins

Robert Collins

Phone: 0404 678 792
Office: 1300 282 370

Email Listing Agent

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