Brisbane City, Queensland

High Performing Business-Only MLR in Prime CBD Location! | Resort Brokers ID : MR008444

$3,527,203

Business Description

ResortBrokers is thrilled to present an exclusive opportunity to acquire the management rights of a substantial Business-Only permanent complex located in Brisbane's iconic Roma Street Parklands. This impressive property, delivered in 2005, features 401 apartments spread across four high-rise towers, offering significant income, exceptional management flexibility and immense growth potential.

This is a unique opportunity to acquire an incredible management rights business in one of Brisbane’s most iconic locations. This investment is a unique opportunity for astute investors seeking stability, growth, and long-term returns.

Don’t miss the chance to benefit from a well-established operation with strong financials and immense potential for future growth. Call us today!

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Prime location in Roma Street Parklands with major infrastructure boosting demand.

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Business generates a net profit of $643,413 with body corporate salary of $746,675.

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A generous amount of wages has been allowed in the P&L which is prepared by a professional industry accountant.

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All current onsite letting units are permanent lets - 100% occupancy.

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Growth potential by converting permanent lettings to Short-Term lettings, and converting outside lettings into the onsite letting pool.

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Strong body corporate relationship under long-term agreements with multiple successful top-ups to 10 years (Accommodation Module - potential for new manager to top up to 25 years).

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Business is fully managed by experienced staff, offering flexibility for the new owner to either take a hands-on approach or continue with the established team.

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It is not mandatory to purchase the manager’s residence. The incoming manager has the flexibility to choose where to reside within the complex or may purchase the spacious 3-bedroom manager’s unit currently owned by the vendor for $ 1.5 million.

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Central onsite office offers visibility, and significant potential to generate additional income from apartment sales.

- Inspections are by appointment only
Date updated: 01 Oct 2024 01:00:08