Mermaid Waters, Queensland

ICONIC MERMAID WATERS RESIDENTIAL MLR NETTING OVER $550K | Resort Brokers ID : MRB008474

$3,710,000

Business Description

This is an exclusive and exceptional business-only management rights opportunity not to be overlooked! Elegant, iconic and elite, The Lanes Residences in Mermaid Waters, consists of four towers boasting 307 apartments and forms part of a 42ha master-planned waterside community with luxury residential facilities and extensive retail village plus a further 2000+ dwellings in the delivery pipeline over the next 5 years.

These permanent buildings are fully operational and provide superb security for incoming owners with a net profit of $550K+ underpinned by a body corporate salary of $399K and long tenure remaining on agreements. By securing the management rights to The Lanes it positions a sophisticated operator perfectly to provide a solution to the future evolution of this iconic precinct.

- Fully established, The Lanes Residences is an iconic four-tower residential development recently delivered by the Sunland Group
- Delivering an excellent net profit of $550K+ per annum underpinned by a Body Corporate salary representing 72% of income
- Business-only setup with no real estate to own, and no obligation to live on-site delivering a robust ROI
- Based on 25-year accommodation module agreements with 23 and 24 years remaining
- Governed by only two Body Corporate schemes, the four buildings comprise a total of 307 apartments
- Offers a broad mix of 1, 2, and 3 bedroom apartments
- Permanent letting pool of 39 units with 48 external managements providing genuine upside opportunity
- East Village hosts 150 units and West Village 157 units
- Exceptional shared facilities include swimming pools, lounge areas, gym and sauna
- Operational spaces under OA include reception and back office, with several storage areas
- Genuine opportunity to secure an iconic asset in a 5-year master plan community, located in the heart of Mermaid Waters
- All inspections by appointment only

Date updated: 12 Jan 2025 22:00:06

Business Summary