501 Queen Street, Brisbane City, Queensland
Caretaking Agreement Tender for Admiralty Towers II
Tender Closes 4pm 17th April 2026
Business Description
Rare opportunity to enter a service provider agreement and letting agent authority for one of Brisbane’s premier properties with no contract or unit purchase costs.
The body corporate for Admiralty Towers II is calling tenders for a new Building Management contract.
Admiralty Towers II is an exclusive residential property located in Brisbane’s premier riverside precinct, offering breathtaking views of the Story Bridge, Kangaroo Point, and the Brisbane River. Ideally positioned on Queen Street with vehicle access via Howard Street, it is only a short walk from the heart of the city.
The complex comprises 191 luxury apartments and a restaurant. It features outstanding amenities, including two heated swimming pools, spas and saunas, fully equipped gymnasiums, landscaped gardens and parklands and secure underground parking.
• Initial 1-year contract term.
• Contingent on service standards during the initial contract term, the body corporate may (at its sole discretion) offer a five-year extension and a subsequent five-year extension.
• A representative must reside on site but purchasing a lot is not required (the current contractor rents a unit).
• An on-site management office is provided for caretaking services.
• Equipment required for the duties is supplied by the building manager.
• Gardening duties are performed by a separate body corporate contractor.
The successful tenderer will be selected based on their experience, proposed service delivery model and their tendered annual caretaking remuneration.
This is not a contract sale. The successful tenderer will be engaged as a service provider at no cost.
Although the Body Corporate is only responsible for tendering the Building Management duties, the Building Management and Letting Agency Authority will also authorise the successful tenderer to operate a letting pool within Admiralty Towers II.
Currently, approximately 30% of apartments participate in the Building Manager’s letting pool, with an additional 20% leased through external agents. This represents a rewarding opportunity for a motivated letting agent.
To register your interest and obtain a copy of the tender information package, contact Leary and Partners on ---------- or email ---------- .
Tender Closes 4.00 pm 17th April 2026
Business Summary
Key Investment Insights
1. Prime riverside location on Queen Street with Howard Street vehicle access, short walk to Brisbane CBD and panoramic views of Story Bridge, Kangaroo Point and the Brisbane River.
2. Large luxury complex scale, 191 apartments plus a restaurant, supporting substantial management and letting activity.
3. High-end amenities including two heated swimming pools, spas and saunas, fully equipped gymnasiums, landscaped gardens and parklands, and secure underground parking, enhancing tenant appeal and service complexity.
4. Initial one-year contract term with body corporate discretion to offer a five-year extension and a subsequent five-year extension, enabling short term entry with potential long-term continuity.
5. No contract purchase or unit acquisition required; successful tenderer engaged as a service provider at no cost.
6. On-site residency required for a representative, with renting a unit acceptable as evidenced by the current contractor.
7. On-site management office provided, simplifying operational setup and day one presence.
8. Essential caretaking equipment supplied by the building manager, reducing capital outlay for the service provider.
9. Gardening duties excluded, performed by a separate body corporate contractor, narrowing the scope of responsibilities.
10. Letting agency authority included, authorising operation of an on-site letting pool in addition to caretaking duties.
11. Existing rental market penetration with approximately 30 percent of apartments in the manager’s letting pool and a further 20 percent leased through external agents, indicating immediate revenue potential for a motivated letting agent.
12. Tender evaluation based on demonstrable experience, proposed service delivery model and tendered annual caretaking remuneration, with tender closing 4.00 pm, 17 April 2026.
