Bowen Hills, Queensland

NETTING OVER $230K - PERMANENT MLR IN BRISBANE'S BEST POSTCODE 4006 | Resort Brokers ID : MR006666

$1.265M BUS + $700K UNIT

Property Description

On offer is the management rights and manager's unit / office to 'Terrace on Gregory', a well-maintained and easy-to-manage permanent residential complex located in a prime inner-city location.



  • Beautifully planned three-storey complex with lift access

  • Total of 78 apartments with50 units currently managed in the onsite letting pool

  • 23 owner occupiers (including manager's apartment) and 4 external lets

  • High BC salary of $127,812+GST p.a

  • Located near RNA showgrounds, RB hopsital and Royal International Convention Centre

  • Easily managed by a management couple, or single operator working full time

  • Caretaking duties include approx. 12 hours cleaning p/w and 2 - 4 hours p/w of gardening & pool maintenance

  • There are no set office hours in the agreements

  • Current management opt to open the office Mon-Fri; 9am to 5pm when they are onsite

  • Stunning three bedroom manager's apartment with large attached office on title

  • Facilities include heated pool & sp and gymnasium plus secure under cover parking

  • Scope for incoming operator to switch back to short-term when Brisbane's coporate / tourism market recovers

Date updated: 02 Jun 2021 13:00:06

Property Summary

Business Snapshot

Price: $1.265M BUS + $700K UNIT Net Profit: $230,344 Remuneration / Body Corp Salary: $127,812

Managers Unit

Value of Managers Apartment: $700,000Bedrooms: 3Bathrooms: 2Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 78Total Units in Letting Pool: 50Holiday Units: 50Owner Occupy Units: 23Outside Agent Units: 4Agreement Term Remaining: 25 years
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