Management Rights - Toowong, QLD

Toowong, QLD

$1,370,000

Property Description

Great Complex in the Heart of Toowong

Fantastic complex nestled away in the Toowong shopping precinct and on the bus/train transport system to the City. The mix of 2 & 3 bedroom apartments is popular with overseas and local university students. Well appointed, spacious Manager's apartment with office $585,000. Netting $157,000. Management Rights $785,000, TOTAL $1,370,000 but not yet at full income potential with plenty of scope to increase. Phone Robert Collins Exclusive Agent on 0404678792 or robertc@raas.com.au
Financial Overview

Body Corp Salary:
86430
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
CPI or 4%
Net Profit:
$157,000
Manager's Unit Price:
$585,000
Management Rights Price:
$785,000
Letting Business

Est. Year Built: 1995
Total Units In Complex: 50


Inside Letting Pool

Permanent: 34
Holiday: 0
Corporate: 0
Total: 34

Outside Letting Pool

Lock Up: 0
Outside Agents: 2
Self Managed: 0
Owner Occpd: 14
Total: 16

Number & Type In Letting Pool
Number Type Features
42 2 Bed Apartments Fans, dishwahers, garb disp., microwave, air con
8 3 Bed Apartments Fans, dishwashers, garb disp., microwave, air con
Bed Furnished Apartment As above plus furniture
Tariffs

Booking Type Details
Permanent 2 brm unfurnished - Ave $470 p/w; 3 brm unfurnished - Ave $580p/w
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 2 Bedrooms , 2 Bathroom
Office Reception: On Title
Office Software: Caretaker
Office Hours: None specified
Storage: Yes
Office Computer: Yes
Module: Accommodation
Agreement Term: 25 yrs (10 + 15)
Years To Run: 18y
Manager's Unit Description: Spacious, air conditioned two bedroom, two bathroom apartment on ground floor. Two balconies plus single lock-up garage. This is a beautiful well presented unit that is spacious and extremely livable. There is a courtyard as well

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: The complex is currently run by one person comfortably. It is in a delightful setting , close to Toowong Villager and appeals to the trendy crowd. The manager has not had one day vacant in the last 7 years. This complex is next door to every possible facility. There are two outside rentals that have been attached to the complex for the last 7 years. Manager is putting his complex on the market as he wishes to retire. He has an excellent relationship with both his committee and the body corp manager
Will consider a top up if needed.

Property Agent

Robert Collins

Robert Collins

Phone: 0404 678 792
Office: 1300 282 370

Email Listing Agent

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