Kangaroo Point, Queensland

Kangaroo Point Complexes with BIG income!!

$5.68M inclusive of $1.8M in real estate

Business Description

Located directly across the River from the CBD, in sought-after Kangaroo Point and a 2-minute ‘free’ ferry ride from Riverside, these three complexes offer an ideal location. Backing onto the Story Bridge Hotel on Main Street these apartments are ideal for tenants to ferry or walk across the new bridge to and from the CBD and the City Botanic Gardens. In the heart of Kangaroo Point and virtually next door to the Holman Street Ferry Terminal… Absolute convenience – leave the car at home!

Due primarily to its perfect location and active management, this permanent business consistently ensures owners over 99% occupancy year-round.

Both manager’s units are 2-bedroom, located on the ground floor and agreements do not lock the manager to reside in any particular unit. Current owner has held the management for over 13 years and enjoys an excellent relationship with all committees. The business has been run professionally under management and the only reason for sale is that the owner’s interests are elsewhere.

The salary of $551,162 constitutes over 75% of total profit and is linked to annual CPI increases. A full P&L, based on actual figures, has been completed by industry specialist and Chartered Accountants Holmans.

“Applicants must be suitably qualified and experienced in owning and managing complexes of a similar quality and size.”

**Ras360 – Specialists in Management Rights | Motels | Hotels | Pubs | Parks**

Business Summary