Key Investment Insights
1. Established and well-run complex with documented procedures.
2. Corporate group with a reputation for operational excellence and a great team.
3. Long agreement with 24 years remaining on a 25-year accommodation module.
4. Strong body corporate salary of $216,000 with annual CPI adjustment.
5. Potential for increased income through letting and upsides in cleaning and maintenance.
6. Supportive and cooperative body corporate.
7. Modern and spacious manager's residence with three bedrooms, two bathrooms, and a detached office.
8. Spacious office on title.
9. Goldilocks complex with a great lifestyle and solid business.
10. Inner city location with convenient access to public transport and amenities.
11. Iconic building with a mix of contemporary design and heritage charm.
12. Potential for growth in letting income with only 50% of units currently in the letting pool.
13. On-site amenities including a pool, gym, and BBQ area.
14. Permanent complex with 82 units in the letting pool and 82 permanent units.
15. Accommodation module agreement with a remaining term of 23.5 years.
16. Manager's apartment valued at $850,000.
17. No income included from repairs and maintenance or cleaning, providing potential for increased income.
18. Great potential for a new owner to reap the rewards of this fantastic offering.
Management Rights Multiplier: 5.90
ROI Estimate: 16.95%