Townsville City, Queensland
Unlock the potential at Highpoint Apartments
$665,000
Business Description
Knight Frank Townsville is pleased to present to the market for sale the management rights for Highpoint Apartments, Townsville’s premier residential complex offering unparalleled potential for profitability and lifestyle appeal with no requirement to live on site.
Key features include:
- Exceptional body corporate salary of $172,902* per annum with minimum annual 3% increase
- 92 units with only 9 in the letting pool
- Opportunity to grow current letting pool
- Long term security with 18 years remaining on the term
- Strong ROI with less than 3.5 multiplier
- No strict office hours which provides flexibility
- No requirement to purchase an apartment or live on site
- Easy to manage caretaking duties
The property is located just minutes from the bustling CBD within easy walking distance of Woolworths, diverse dining options, vibrant retail shops, and the newly constructed Country Bank Stadium. Residents and guests will enjoy the luxurious amenities, including a sparkling pool with breathtaking views, a stylish BBQ area perfect for entertaining, and a modern gym. The property offers stunning panoramic vistas of Townsville, Magnetic Island, and the Coral Sea, ensuring every moment spent here is framed by natural beauty.
Highpoint Apartments combines strong financial returns with huge upside making it an ideal investment for those seeking both immediate rewards and long-term gains. This is more than an investment, it's a gateway to a prosperous future.
For more information or to arrange an inspection, please contact Glen Cummins at Knight Frank.
*Approximately
Business Summary
Business Snapshot
Price: $665,000
Net Profit: $192,902
Complex Information
Complex Type: PermanentTotal Units in Complex: 92Total Units in Letting Pool: 9Owner Occupy Units: 25Agreement Term Remaining: 18 years
Key Investment Insights
1. Highpoint Apartments is Townsville's premier residential complex, offering potential for both profitability and lifestyle appeal.
2. The complex has an exceptional body corporate salary of $172,902 per annum, with a minimum annual 3% increase.
3. There are currently 92 units in the complex, with only 9 in the letting pool, providing an opportunity for growth.
4. The property offers a strong ROI with less than 3.5 multiplier.
5. There are no strict office hours, providing flexibility for the management rights.
6. There is no requirement to purchase an apartment or live on site.
7. The caretaking duties are easy to manage.
8. The property is located within easy walking distance of the CBD, Woolworths, dining options, retail shops, and the newly constructed Country Bank Stadium.
9. The complex offers luxurious amenities, including a pool, BBQ area, and gym, with stunning views of Townsville, Magnetic Island, and the Coral Sea.
10. Highpoint Apartments offers strong financial returns and potential for long-term gains, making it an ideal investment opportunity.
11. The asking price for the management rights is $665,000.
12. The net profit for the business is $192,902.
13. The complex is a permanent complex with a total of 92 units, 9 of which are in the letting pool.
14. There are also 25 owner-occupied units in the complex.
15. The agreement term remaining is 18 years.