Newtown, Queensland

Management Rights $600,000

Property Description

Located behind the Toowoomba Base Hospital on James Street, this short term accommodation business ticks all the boxes - 1P4782MR

Apollo Lodge provides short term accommodation. There is an access gate that leads directly into the grounds of the Toowoomba Base Hospital. A Patient Travel Scheme is in place with Qld Health for patients and escorts to stay.

The city of Toowoomba requires little introduction as a regional business powerhouse, with short stay accommodation as one of its significant industry foundations. Apollo Lodge is walking distance to shopping, restaurants and entertainment.

Operationally this complex is not demanding and a perfect launch site for first timers. Featuring ten two-bedroom fully self-contained units, nine with their own lock-up garages and enclosed courtyard. Additional free parking is available on-site.

The manager's residence provides three bedroom, two bathrooms plus office reception on title and a lock-up garage.

There is a massive upside in this business for the new owner. The manager's office can be locked-off and the residence then capable of earning significant income as a rental.

TOTAL NUMBER OF UNITS : 11
UNITS IN LETTING POOL : 10
NET PROFIT : $127,798

REAL ESTATE PRICE : $300,000
BUSINESS PRICE : $300,000
TOTAL ASKING PRICE : $600,000

Property Summary

Business Snapshot

Price: Management Rights $600,000 Net Profit: $127,798 Remuneration / Body Corp Salary: $14,773Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $300,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: n/aTotal Units in Complex: 11Total Units in Letting Pool: 10Holiday Units: 10Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 4 years

Other Features / Notes

A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Southern

Marketing Agent


Marketing Agency

CRE Brokers

Peter Sagner
CRE Brokers

Phone

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Property Map

Map Location ( get directions )

Newtown, Queensland 4350 Exact map location not provided

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