Woolloongabba, Queensland

First time to market - Prestigious Permanent MR - 200m stride to the Gabba! | Resort Brokers ID : MR007966

$3.073m + $680+K

Business Description

This is the first time ever to secure the management rights and associated real estate to Trafalgar Lane, a high-rise complex developed by the award-winning Pellicano Group. Located literally over the road from Brisbane's infamous 'Gabba' Stadium this property boasts a rooftop recreation area with incredible views of all events held in the stadium. ResortBrokers bring this exclusive business to market for the first time, as it has been run by the developer since inception. With a high net profit circa. $470,000, this well-established business is an excellent investment choice for any experienced operator to consider.

- Promient position on Stanley Street, opposite The Gabba Stadium
- Towering high-rise apartment complex comprising 147 units
- Current on-site letting pool comprising 98 apartments
- Independently verified by industry accountant net profit of $472,821 p.a.
- Body Corporate salary of $223,166 representing 52% of the net profit
- Ground floor lobby and reception, plus back office and operating spaces under OA
- Level 6 - recreational area with yoga and sun lawn, spa, pool, gym, recreation lounge and media room
- No set office hours, reception is currently operating between 8am to 4pm
- Manager is required to live on-site
- Level 10 - 3 bedroom, 2 bathroom manager's apartment forms part of the business sale
- 18 years remaining on Caretaking and Letting Agreements
- All inspections by appointment

Date updated: 03 Mar 2024 22:00:16

Business Summary

Business Snapshot

Price: $3.073m + $680+K Net Profit: $472,821 Remuneration / Body Corp Salary: $223,166

Managers Unit

Value of Managers Apartment: $680,000Bedrooms: 3Bathrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 147Total Units in Letting Pool: 98Owner Occupy Units: 23Outside Agent Units: 25Agreement Term Remaining: 25 years
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