Kangaroo Point, Queensland

INNER-BRISBANE DREAM DUO - CIRCA $550K NOP - TWO SUPERBLY RUN PERMANENT MR'S | Resort Brokers ID : MR008438

$3,856,450

Business Description

Be quick to book a time to inspect these two magnificent management rights complexes located in the vibrant inner-city district of Woolloongabba and Kangaroo Point.

Built by reputed developers (Pointcorp and Habitat) the established rights to both buildings come with long tenure remaining on Caretaking and Letting agreements, solid letting pool underpinned by a stable Body Corporate salary that represents nearly 50% of the net income. Plus both buildings have the option to convert to short-term if desired.

- Premium buildings in top inner-city locations prime for strong rental returns
- Total of 158 apartments with a mix of 1, 2 and 3 bedrooms
- Current onsite letting pool consists of 98 units combined
- Verified net profit from industry specialist shows net profit for both at $545,318 p.a.
- Total body corporate salary of $252,644 p.a.
- Magnus has stunning rooftop facilities with river views, pools and recreation areas with fireplace
- Foundry has podium level pool and deck with great aspect and communal terrace, plus rooftop lounge
- One body corporate scheme per complex
- Foundry and Magnus have no set office hours and no requirement to live onsite.
- 5 year top ups completed in 2023, both have just under 24 years remaining.
- Magnus has a manager's 1 bed unit + office (separate entry) that is in the letting pool - Price $530,000
- An incredible opportunity to own two high performing businesses in peak areas of Brisbane
- All inspections by appointment only
Date updated: 10 Oct 2024 13:46:29