Key Investment Insights
1. Highly sought-after location in Brisbane's inner-city neighbourhood of Newstead.
2. Impressive and well-designed building with a total of 220 apartments over 25 levels.
3. Strong rental averages and occupancy rates for the 149 units in the letting pool.
4. Rooftop amenities including an infinity edge pool, outdoor kitchen and dining, and firepit.
5. Elegant lobby, reception, office, and storage under Occupational Authority.
6. Body Corporate Salary of $308,553 per annum excluding GST.
7. Verified net profit of $822,495 per annum excluding GST.
8. Additional income of $37,000 per annum for managing 20 external lots.
9. Option to purchase a two-bedroom unit for $980,000.
10. Long remaining term of 24.3 years on the Caretaking and Letting Agreements.
11. Currently run by a two-person team with contracted cleaning and gardening services.
12. Opportunity for growth and increased profitability with potential for owner-occupiers and short-term rentals.
13. Strong potential for capital growth in the highly desirable Newstead area.
14. Business-only sale with low overheads and minimal staffing requirements.
15. Exclusive listing with Resort Brokers, a leading agency in management rights sales.
Management Rights Multiplier: 5.90
ROI Estimate: 16.94%