Brisbane City, Queensland
Brisbane Branded Permanent/Corporate//Leisure opportunity
Under Contract / Offer
Contemporary 4.5 star inner city high-rise, permanent, corporate/leisure complex.
Set in an impressive glass and concrete tower, this all-apartment hotel is located in the thriving commercial and business district and just a short walk to Central train station and Queen Street Mall.
The brand agreement is due for renewal, consequently the option exists to retain the brand or revive the well known Flynn Apartments.
This is a reluctant sale by current vendor, due to a partners passing.
Yearly Figures are largely depressed due to Covid-19.
Excellent prospect of growth with incipient post Covid conditions.
For the manager there is a large two bedroom two bathroom residence with study nook, internal laundry and wrap around balcony with views. Also a front and back office on title plus two car parks.
Figures & Valuation available to prospective buyers on application.
Inspection will impress.
Price: Under Contract / Offer
Net Profit: $399,183 Remuneration / Body Corp Salary: $160,187Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $730,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: On Title
Managers Real Estate comprising 3 Lots (Lots 35, 3 & 5)
Apartment Lot 35 is a large 2 bedroom/2 bathroom with balcony and views, 2 carparks
Complex InformationComplex Type: MixedStar Rating: 4Total Units in Complex: 106Total Units in Letting Pool: 51Holiday Units: 24Permanent Units: 27Owner Occupy Units: 28Outside Agent Units: 26Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesSpa: YesGym: YesBBQ Area: YesWIFI: Yes