Brisbane City, Queensland

BRISBANE CBD PERMANENT MANAGEMENT RIGHTS WITH NET OVER $600,000 | Resort Brokers ID : MR008509

$4,985,000

Business Description

The management rights to Vue Apartments will be a coveted acquisition from any experienced manager ready to pounce on this rare opportunity. This permanent management rights is fully established and enjoys a healthy net profit over $600,000 underpinned by the strong body corporate salary which accounts for more than 54% of the core income.

Vue Apartments is a landmark building located overlooking the Brisbane river on Quay Street, a short stroll into the central Brisbane district. Superbly placed for long-term tenancy, it offers both furnished and unfurnished apartments with 100% occupancy due to the prime position and convenience to both South Bank and the city.

- Recently topped up agreements with over 21 years remaining
- Total of 186 apartments with 72 units in the onsite letting pool + 5 external lots being sold with the business
- Body Corporate salary of $327,680 per annum, increases inline with CPI annually
- Net profit of $604,780 & external letting income of $16,079
- Currently operated by a two-person management team
- Requirement for manageror norminee to live on-site
- Freehold title operational areas include a reception & office - $200K
- Manager's 3 bed, 2 bath unit with 155sqm floorplan - $750K
- Facilities include pool, spa, sauna, and gym
- Easy access to motorway andInner CityBypass
- Shortwalk toCityCatferry,trainor bus
- Few minutes’driveto elite private schools (BGS and BGGS) and University.
- Walking distance to South Bank and CBD entertainment district.
- All inspections by appointment only

Date updated: 01 Dec 2024 22:00:07

Business Summary