South Brisbane, Queensland
Growing Short Term Management Rights Centrally in South Brisbane
SOLD
Business Description
- Solid Net $310,378, still growing, asking for $1,583,000
- Fully Renovated, Fantastic 2 beds and 2 baths Manager Unit, on Latest Valuation in Feb 2023
- Perfectly located in the prestigious heart of South Brisbane, walk to South Bank Park and CBD in minutes
- Close to all the necessary amenities, only a short walk to Conference & Exhibition Centre, Museum, Gallery as well as all vibrant and distinctive award-winning dining, shopping, beauty, health & wellbeing precinct and an easy stroll to West End Commercial Street
- Very well-run complex, all procedures documented, good system in place
- Very supportive Body Corporate, a good relationship in place
- Long 22 years left on agreements under a 25-years accommodation module
- Grounds easy care approximately 6-8 hours (average) caretaking per week
- No leaseback agreement within the letting pool
- No Requirement on residing on site
- Fully-Renovated, Modern and Large manager unit - two bedrooms, two bathrooms with large outdoor entertaining balcony
- Located within the Brisbane State High School and West End State School catchment area
- Profit and Loss Statement was prepared by Industry Specialist Accountant
- Manager Unit is valued by Bank Panel Industry Specialist Valuer
This is a rare opportunity to purchase a short-term accommodation business with solid income, and great potential to grow.
A timing Just Right! Come and take a look we are sure you will be impressed!
Don't miss the opportunity, book your inspection now with NEXT exclusive agent - David Jiang!
Business Summary
Key Investment Insights
Key Insights:
1. Prime location in the prestigious heart of South Brisbane, with easy access to CBD and popular attractions such as South Bank Park, Conference & Exhibition Centre, and West End Commercial Street.
2. Well-managed complex with documented procedures and a supportive Body Corporate, creating a good working relationship for the manager.
3. Long 22-year agreements remaining under a 25-year accommodation module, providing stability and security for the business.
4. Low maintenance grounds, with an average of 6-8 hours of caretaking per week, allowing for a manageable workload for the manager.
5. No leaseback agreements within the letting pool, providing full control and flexibility for the manager.
6. No requirement for the manager to reside on-site, allowing for potential for off-site management.
7. Fully renovated and modern manager unit with two bedrooms, two bathrooms, and a large outdoor entertaining balcony, providing a comfortable and desirable living space for the manager.
8. Located within the catchment area of highly sought-after schools, Brisbane State High School and West End State School.
9. Profit and Loss Statement prepared by an industry specialist accountant, providing accurate financial information for potential buyers.
10. Manager unit valued by a bank panel industry specialist valuer, providing assurance of the unit's worth.
11. Rare opportunity to purchase a short-term accommodation business with solid income and potential for growth.
12. Timing is right to purchase this business, with great potential for future success.
