Cairns City, Queensland

Excellent permanent letting business opportunity

$1,700,000

Property Description

Charming development with a rural atmosphere and comprising a total of 98 apartments. This three staged construction complex was completed in mid 2007. With a lovely country village atmosphere this quality permanent complex provides a secure gated living environment close to Cairns.
Apartments feature quality fixtures and fittings and the three bedroom/two bathroom manager’s apartment is no exception.
New 25 year agreement and Body Corporate Salary tops $203,000 pa.
This high demand rental property enjoys a top occupancy which is assured to continue with Cairns vacancy rate currently less than 2%.
The consistent trading figures show no downturn over the Covid period.
Great opportunity to buy one of the best in permanents in a modern building and great location.


Call Calvin for further details.

Property Summary

Business Snapshot

Price: $1,700,000 Net Profit: $275,000 Remuneration / Body Corp Salary: $203,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $385,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: Exclusive UsePets OK: Yes
Three bedroom, 2 bathroom with spacious patio and grassed area. 162m2

Complex Information

Complex Type: PermanentTotal Units in Complex: 98Total Units in Letting Pool: 50Permanent Units: 50Owner Occupy Units: 39Outside Agent Units: 8Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24.5 yearsPool: YesBBQ Area: Yes
Marketing Agent
Calvin Bailey
Calvin Bailey

Calvin Bailey Management Rights

Calvin Bailey Management Rights

Listing location
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