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: 05 Aug 2021 13:00:06

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
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