Southport, Queensland

NEAR NEW BOUTIQUE HIGH RISE

SOLD

Business Description

Contemporary and spacious apartments within the Gold Coast’s CBD, featuring magnificent broadwater views.

Superbly located, a short stroll to the Broadwater and only minutes to the Southport business centre, Australia Fair, Chinatown and light rail stations. The location also offers convenient access to the M1 with bus stops only 150 meters away.

This low maintenance and inviting building offers the onsite manager a great lifestyle with quality tenants queuing up to also enjoy.

22 years remaining on agreements. No repairs or maintenance income. No swimming pool. No set office hours.

A wonderful business opportunity presents itself. Don’t wait!

Business Summary

Business Snapshot

Price: SOLD Net Profit: $173,000 Remuneration / Body Corp Salary: $54,000Body corp salary review: Fixed %

Managers Unit

Value of Managers Apartment: $470,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: Exclusive UsePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Letting Pool: 44Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 yearsBBQ Area: YesPay TV: YesWIFI: Yes

Key Investment Insights

1. Prime location within the Gold Coast's CBD, with stunning views of the Broadwater.
2. Short walking distance to the Broadwater, Southport business center, Australia Fair, Chinatown, and light rail stations.
3. Convenient access to the M1 with bus stops only 150 meters away.
4. Low maintenance building with quality tenants and potential for a great lifestyle for the onsite manager.
5. 22 years remaining on agreements, providing long-term stability for the business.
6. No repairs or maintenance income, reducing potential financial burdens for the manager.
7. No swimming pool or set office hours, allowing for a more flexible work schedule.
8. Manager's unit valued at $470,000 with 2 bedrooms, 2 bathrooms, and 2 car spaces.
9. Pets allowed in the manager's unit.
10. Permanent complex with 44 units in the letting pool.
11. Accommodation agreement module with a term of 25 years and 22 years remaining.
12. Complex amenities include a BBQ area, pay TV, and WIFI.

Management Rights Multiplier: 5.29
ROI Estimate: 18.91%

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This Business is sold

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