Albion, Queensland

Asking for $3.29M, Big Nett Permanent Management Rights in Inner City Suburb of Brisbane

SOLD

Business Description

- Landmark tower is perfectly located in inner city suburb, offering inner city charm
Built on the tradition and heritage of iconic building, featuring the best in contemporary design and lifestyle amenities, offer a lifestyle of convenience and connectivity, just 5km from the CBD and close to public transport.
- Well established and Very well run complex, all procedures documented
Business has been run by corporate group, which is well known by operation excellence and great team.
- Long agreement 24 years left on a 25 years accommodation module
- Fantastic Body Corporate salary of $216K, with annual CPI adjustment every Feb
- "CLEAN" Income Page
No any income included from Repairs and Maintenance, Cleaning … Great income upsides potentials!
- Great letting income improve potential
Only 50% in letting pool, a good room potential for letting to grow for a new building
- Body Corporate very good and supportive to work with
- Modern and spacious manager residence comprises three bedrooms, two bathrooms, lounge/dining room, kitchen, laundry, patio, detached office/reception on title and large basement storage and car space on title.
- Spacious office on title

Come on in and reap the rewards that this fantastic offering has to offer. This is the Goldilocks complex, offering a great lifestyle and solid business. Just Right!

Business Summary

Business Snapshot

Price: SOLD Net Profit: $413,487 Remuneration / Body Corp Salary: $216,300Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $850,000Bedrooms: 2Bathrooms: 2Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 164Total Units in Letting Pool: 82Permanent Units: 82Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23.5 Years yearsPool: YesGym: YesBBQ Area: Yes

Marketing Agent

David Jiang

0481500....

Next Business & Property Sales

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%