Key Investment Insights
1. Blue-chip Teneriffe riverfront location, direct riverfront with riverwalk access to New Farm Park, Howard Smith Wharves and the CBD, strong local amenity including café culture, Gasworks precinct, James Street retail and nearby ferry terminal.
2. Low-maintenance management rights model, no office hours and no requirement to live onsite, caretaking duties limited to pool, BBQ area and grounds.
3. Strong verified net profit of $349,471 per annum, with the high body corporate salary of $269,141 pa accounting for over 77 percent of that profit.
4. Long secure contractual term, agreements run until June 2047, 25 year term with approximately 22 years remaining.
5. Clear upside from short-term and outside-managed stock, 26 units currently in the letting pool, 32 self-managed Airbnb units and 49 units with outside agents.
6. Manager’s residence is dual-title, comprising a three-bedroom apartment, one bathroom, two secure carparks and an office on title, offering owner-occupy or rental income flexibility.
7. Price structure separated into $1.87M management rights plus $925k manager’s unit, total purchase price $2.795M, manager’s apartment valued at $925,000.
8. Attractive return metrics, business component delivering a 20.2 percent ROI and a below-market multiplier of 5.35x.
9. Large complex scale, 160 total units with 53 owner-occupied units, providing diversification of income streams and tenant mix.
10. High-income, low-effort investment profile, described as high-return with lifestyle flexibility and significant passive income from body corporate salary.
Management Rights Multiplier: 0.67
ROI Estimate: 149.47%
