Chermside, Queensland

TWO NEIGHBOURING PERMANENT COMPLEXES IN BRISBANE'S INNER NORTHSIDE | Resort Brokers ID : MR008095

$3,091,850

Business Description

A ResortBrokers Special! This is a fantastic duo of management and letting rights complexes located right next to each other. Estilo on Kittyhawk is a fully established business whilst its neighbour Estilo on the Park presents as an off the plan opportunity that is currently well-progressed under construction. Our developer/vendor is looking to sell both assets in one transaction so that the successful party can reap the benefits of a larger scale business that comes with a net profit in excess of $580,000.
Highlights of the Combined Offering

- Both on 25 year Accommodation module agreements
- High net profit of $583,368
- Total of 238 apartments + 4 commercial lots
- Combined Body Corporate salary of $387,793 p.a.
- No set office hours and manageable duties

Established Complex

- Developed and run under management by Gardner Vaughan Group
- 116 apartments with 47 in letting pool
- 21 years remaining on 25 year Accommodation module agreements
- 16m2 office on ground level of building 1 (east)
- Manager required to reside on-site - option to rent or buy a unit

Off the plan Complex

- Under construction with Stage 1 due to complete in Q3 2024
- No requirement to live onsite or own a lot
- Manager's 9sqm office on mezzanine level and storage under OA
- 100 of 122 units already sold and construction well-progressed
- Level 1 pool, function room and rooftop with kitchen & deck, gym.

All inspections by appointment only Date updated: 25 Feb 2024 22:00:19

Business Summary

Business Snapshot

Price: $3,091,850 Net Profit: $583,368 Remuneration / Body Corp Salary: $395,979

Managers Unit

Value of Managers Apartment: $899,000Bedrooms: 2Bathrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 238Total Units in Letting Pool: 93Agreement Term Remaining: 25 years
Marketing Agent
Listing location

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