Teneriffe, Queensland

TENERIFFE'S CREAM OF THE CROP - $294K NET BUSINESS-ONLY | Resort Brokers ID : MR006971

Under Contract / Offer

Property Description

ResortBrokers proudly present this premium quality, business-only management rights located in the vibrant inner-city suburb of Teneriffe.



  • Very desirable high-rise building with Woolworths Metro tenancy on ground level

  • Built in 2019 Fabric comprises 66 modern apartments

  • 59 units in the letting pool (exclusing the manager's lot)

  • Large 14sqm storage area on ground level for operator use under OA

  • Solid BC salary of $104,510 - reviewed on CPI index

  • 22.5 years remaining on Caretaking and Letting Agreements

  • No requirement for the manager to live on-site or own a unit in the building

  • Freehold 2 bed / 2 bath + MPR - $685K - being rented for $27,750 p.a. (can be sold separately)

  • Rooftop swimming pool, dining area and open lawns

  • Strong tenant demand and consistent low vacancy rates

  • Inspections by appointment only

  • All offers via formal submission process


Date updated: 23 Jan 2022 22:00:10

Property Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $294,765 Remuneration / Body Corp Salary: $104,510

Managers Unit

Value of Managers Apartment: $685,000Bedrooms: 2Bathrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 66Total Units in Letting Pool: 59Holiday Units: 59Owner Occupy Units: 5Agreement Term Remaining: 25 years
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