Bowen Hills QLD 4006

The perfect opportunity for partnerships / syndicate or alternatively suited to two-person management team with part-time assistance. This modern mid-rise complex is efficiently run and presents to the market as a perfectly established management rights business offering a sizeable net profit and a high level of security. The Caretaking and Letting agreements were recently topped up to the full 25-year tenure, and the business is underpinned by a solid BC salary of c. $335,000, representing more than 50% of annual net profit.

The two-tower permanent complex comprises 197 apartments in total with 100 managed in the onsite letting pool. Of particular interest is the scope for additional earning through onsite unit. The office / reception is prominently positioned, and the current owner have enjoyed considerable additional income from sale commission. A must see for all syndicate seekers and or owner-operators looking to expand their business base.

- A high-yielding asset attractive to syndicators and corporates
- Strong BC / committee relationship with full 25-year tenure to agreements
- Features a well-presented, clean Profit & Loss statement with sufficient wage allocation
- Permanent complex with quality facilities including pool and gym
- Comprises a total of 198 apartments over two towers with 100 in the on-site letting pool
- Good scope to grow unit sale business, given scale of complex and location of office.
- Located in Bowen Hills, a sought-after inner-city fringe suburb, close to all amenity
- Potential for significant growth via outside agent conversion back into the letting pool
- 2 bed, 2 bath managers' residence - $595,000
- Reception/office under OA is located between the two towers and 42sqm storage in basement
- All inspections by appointment only