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: 73Holiday Units: 73Agreement Module: AccommodationAgreement Term Remaining: 16 years
Marketing Agent
Narelle Filmer
Narelle Filmer

Think Management Rights

Think Management Rights

Key Investment Insights

- High net profit of $700,000 and a remuneration/body corp salary of $121,032.

- Managers unit is valued at $725,000 and includes 2 bedrooms, 1 bathroom, and a large office and front reception on a separate title.

- Complex is classified as a corporate complex and has a total of 78 units, with 73 units in the letting pool.

- All units in the complex are short term holiday units, with a 16-year agreement term remaining.

- Located in a prime inner-city location near the Brisbane River, with easy access to hospitals, university, cafes, restaurants, and the CBD.

- Consistently high occupancy rate of 89%.

- Management and staff are in place, with the MR owners operating at arm’s length.

- No live-in owners are permitted on site, making this a unique opportunity for investors looking for a fully staffed and managed corporate complex.

- Management holds a FFE (furniture, fixtures, and equipment) fund for refurbishments, which is paid for by the owners.

- Excellent potential for growth and expansion in the corporate market due to the desirable location and high occupancy rates.

- Pets are allowed in the managers unit.

- Agreement module is accommodation, providing flexibility for the managers and owners.

- Overall, this is a rare opportunity to acquire a top-performing corporate complex in a highly sought-after location, with a strong net profit and long-term agreement in place.

Management Rights Multiplier: 5.60
ROI Estimate: 17.86%

Listing location
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