First Time Ever to Market - Newstead MR Netting $489K+ | Resort Brokers ID : MR006732
Under Contract / Offer
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
Price: Under Contract / Offer
Net Profit: $489,497 Remuneration / Body Corp Salary: $135,717
Managers UnitValue of Managers Apartment: $500,000Office: On Title
Complex InformationComplex 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