Time to Retire - Owner says Sell !
Conveniently close to the city and Brisbane's favourite cafes.
Great location and not too big.
This building is a combination of apartments and townhouses. Located in Ascot and only a two minute drive from the popular cafe areas of racecourse road and Hamilton portside.
• Established modern, inner city permanent complex.
• With only 35 units in the complex the body corporate salary of $58,499 is very generous especially when you consider there is only about 20 hours of caretaking per week.
• There are no set office hours.
• The office is located away from the manager's unit and is exclusive use. This makes it ideal to work with the outside rentals.
• Almost all the income comes from the core stream of body corporate salary and letting commissions.
• There is good scope for new management to build the bottom line by carrying out maintenance and offering extra gardening etc.
• The relationship with the committee is good, with the current manager given a good amount of autonomy to do their job.
• The caretaking and letting agreements currently sit at 21 years, providing excellent security.
• Gallery Vie updated done.
• Handy to bus, rail and city cat.
• Close access to M1, Airport, DFO, Goldcoast & Sunshine Coast.
• Five minute walk to the new Woolworths Village & shopping complex.
• We simply cannot think of anything negative to say about this property.
• All the hard work is done, painting, compliance etc.
An ideal management rights for someone wanting to semi-retire or for the new entrant to the MR industry!!
Price: Price Guide $999,000
Net Profit: $120,231 Remuneration / Body Corp Salary: $59,383Body corp salary review: CPI Annually
Managers UnitOffice: Exclusive Use
Complex InformationComplex Type: PermanentTotal Units in Complex: 35Total Units in Letting Pool: 28Permanent Units: 28Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 Years yearsPool: YesBBQ Area: Yes