Newstead, Queensland

First Time Ever to Market - Newstead MR Netting $489K+ | Resort Brokers ID : MR006732

Under Contract / Offer

Property Description

ResortBrokers are delighted to offer the outstanding opportunity to acquire the permanent management and letting rights to Nero, located in the prime inner-city suburb of Newstead.



  • Verified net operating profit by specialist industry accountant of $489,497

  • No requirement to live on-site or own a lot in the scheme

  • No set office hours stipulated in the agreements

  • Nero is a contemporary 9 storey residential building with 107 apartments

  • Current letting pool consists of 80 units

  • Good mix of finely appointed one, two and three bedroom apartments with superior quality finishes

  • 25 year agreements, commenced in November 2017

  • Strong Body Corporate salary component of $135,717 + GST

  • Associated real estate (Lot 1 on title) located on ground floor includes a reception, large back office, meeting room and private study (92sqm) and a ground level carpark. There are also several other storage areas throughout the building under exclusive use. Purchase price: $500K

  • Option to buy 4x tandem lock-up garages (45sqm each) which can be utilised for your own purposes, rented out or sold off to other lot owners in the scheme. Purchase price: $400K

  • Prime Newstead location close to all major amenities, transport options, Valley, CBD and riverside lifestyle.

  • Rooftop facilities include aheated pool, sauna, steam room and gym.

  • Other common facilities include a Teppanyaki BBQ, pizza oven, resident's lounge & meeting room located next to the pool and visitor parking bays.

  • All apartments are equipped with electronic swipe cards/key pads making this an easy to operate building with straight-forward access to every unit.


NB. All inspections are by appointment only.

Date updated: 01 Dec 2021 00:00:06

Property Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $489,497 Remuneration / Body Corp Salary: $135,717

Managers Unit

Value of Managers Apartment: $500,000Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 109Total Units in Letting Pool: 80Holiday Units: 80Owner Occupy Units: 19Outside Agent Units: 2Lockup Units: 6Agreement Term Remaining: 25 years
Marketing Agent
Listing location
Gallery

Enquire Now

Thank you, your enquiry has been sent now.

Listing Tools

Management Rights

Receive new listing alerts

Sign up
Similar Properties

You may also like

800MF - FREEHOLD GOING CONCERN MOTEL 2 HOURS FROM SYDNEY!
2669MF - FIRST TIME OFFERED FOR SALE BIG FREEHOLD MOTEL!
25 Years Stunning Permanent Management Rights in Carrara
Solid ROI, Great BC Salary & A Grade location! | Resort Brokers ID : MR006919
High Netting $420k plus MR in the heart of South Brisbane | Resort Brokers ID : MR007030
PERFECT PERMANENT MANAGEMENT RIGHT WITHOUT PROPERTY TO BUY
Best buy Boutique freehold going concern motel | Resort Brokers ID : FH007028
CARETAKING BUSINESS IN PRIME LOCATION | Resort Brokers ID : MR007017
Central Qld Motel Lease
Business For Sale - Off the Plan Now Completed - ID 8792 BL
Launceston CBD, Award Winning AAA 4 Star 37 Room Motel, Parking, Views Coming Soon
1260MF - BIG REGIONAL CITY FREEHOLD MOTEL WITH PLENTY TO OFFER
Coastal Luxury Accommodation | Resort Brokers ID : FH007022
MODERN HIGH-RISE BUSINESS ONLY MANAGEMENT RIGHTS IN TOOWONG | Resort Brokers ID : MRB007009
this business has the perfect lifestyle balance - work a little, leisure a lot | Resort Brokers ID : MR007021
2683ML - GREAT FIRST TIME MOTEL
Cooma Hotel, VIC - 1P0095
Barham Hotel NSW - 1P0096