60 Park Road, Milton, Queensland

‘Hotel Zoned Corporate – No live in owners permitted’.

$4,645,000

Business Description

This is a rare opportunity to secure a top performing corporate complex in an inner-city location.
- Short term hotel/apartment complex the is hotel zoned.
- 73 residential lets consisting of studio, 1 bedroom, & 2 bedroom apartments. All lots are furnished the same with management holding a FFE fund for refurbishments paid by the owners
- Positioned by the Brisbane River close to hospitals, university, cafes, restaurants and walking distance to the Brisbane CBD
- No Owner Occupiers can reside onsite.
- Consistently high occupancy of 89%
- Fully staff and manager in place with MR owners operating at arm’s length.

Business Summary

Business Snapshot

Price: $4,645,000 Net Profit: $700,000 Remuneration / Body Corp Salary: $121,032

Managers Unit

Value of Managers Apartment: $725,000Bedrooms: 2Bathrooms: 1Car Spaces: 1Office: On TitlePets OK: Yes

2 Bedroom 1 Bathroom attached with a large office and front reception on separate title.

Complex Information

Complex Type: CorporateTotal Units in Complex: 78Total Units in Letting Pool: 73Agreement Module: AccommodationAgreement Term Remaining: 16 years

Marketing Agent

Narelle Filmer

0459 22....

Think Management Rights

Key Investment Insights

1. The business for sale is a short term hotel/apartment complex that is hotel zoned.
2. The complex consists of 73 residential units, including studio, 1 bedroom, and 2 bedroom apartments.
3. All units are fully furnished and managed by the management team.
4. The complex is located in an inner-city location by the Brisbane River, close to hospitals, university, cafes, restaurants, and the Brisbane CBD.
5. No owner occupiers are allowed to reside on the premises.
6. The complex has a consistently high occupancy rate of 89%.
7. The business has a net profit of $700,000 and a remuneration/body corp salary of $121,032.
8. The managers' unit, which is attached to the complex, is valued at $725,000 and has 2 bedrooms, 1 bathroom, and a large office.
9. The complex is classified as a corporate complex and has a total of 78 units, with 73 units in the letting pool.
10. The complex operates under an accommodation agreement module with 16 years remaining on the agreement term.

Management Rights Multiplier: 5.60
ROI Estimate: 15.07%