Spring Hill, Queensland

$2,150,000

Property Description

PRIME LOCATION CORPORATE LETTING BUSINESS

OFFERS WANTED. The Vendor has reduced the price by a very substantial amount and moving inter-state to be with family. The building is located in a prime position on the fringe of Brisbane's CBD. It has a 4 star rating and was recently awarded, by Booking.com, a certificate in recognition of its'very high enquiry and booking achievements. Lots of repeat business.
The complex presents the apartments to a very high standard, complete with Smart TVs and WiFi. These two items alone make the building a top destination for repeat business, travellers or longer staying tenants.
The business can be run by a two person team although the current Manager chooses to employ staff. A wages expense has been built into the P & L.
The complex was recently painted inside and out and new carpet laid throughout. All cost coming from the sinking fund.
Interested buyers will need to sign a CONFIDENTIALITY STATEMENT before sighting more detailed information. A Profit & Loss statement has been prepared by an Industry Accountant for a Purchaser's peace of mind.

Please contact Jim Prentice 0412 984 684 or E jimp@raas.com.au in the first instance.

The asking price of $2.15m includes the spacious manager's apartment on the 2nd level.

Property Summary

Business Snapshot

Price: $2,150,000 Net Profit: $312,000 Remuneration / Body Corp Salary: $69,637

Managers Unit

Value of Managers Apartment: $520,000Bedrooms: 2

Complex Information

Complex Type: CorporateTotal Units in Complex: 52Total Units in Letting Pool: 23Holiday Units: 23Owner Occupy Units: 18Agreement Term: 25 yearsAgreement Term Remaining: 23.5 years

Marketing Agent


Marketing Agency

RAAS Group

RAAS Group

RAAS Group

Jim Prentice
RAAS Group

Phone

Listing Tools

Property Map

Map Location ( get directions )

Spring Hill, Queensland 4000 Exact map location not provided

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