Woolloongabba, Queensland

ESTABLISHED BUSINESS ONLY COMPLEX IN 'THE GABBA' WITH SHORT-TERM LETTING OPTION! | Resort Brokers ID : MRB008446

Under Contract / Offer

Business Description

Fantastic opportunity to acquire the established management and letting rights to a stunning business-only complex in the heart of Woolloongabba. The mid-rise apartment complex is currently run as a permanent letting business, but the agreements allow for short-term conversion and it is ideally situated to attract this target market.

ResortBrokers is excited to offer The Foundry business to market, with recently topped up agreements, a solid letting pool and verified net profit of $296,581 it has all the hallmarks for continued success and high performance that experienced operators look for.

- Comprises 88 apartments with one retail lot to ground level
- Total current onsite letting pool of 58 apartments
- Run under one single Body Corporate Scheme only
- Business-only with no office or real estate to buy and no requirement to live onsite
- No set office hours in agreements
- 24 years remaining on Caretaking and Letting Agreements
- Beautiful rooftop with city views offering lounge and BBQ area
- Podium level swimming pool and BBQ area.
- Verified net profit of $296,581 with $125,929 BC salary
- Run under by owner-operator with contract cleaners and gardeners
- Ability to convert letting appointments to short-term if desired
- All inspections by appointment only


Date updated: 12 Jan 2025 22:00:06

Business Summary