Bowen Hills QLD 4006

The perfect opportunity for a partnership / syndicate, currently operated fully under management. 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. Considerable additional income opportunity through onsite unit sales.

- A high-yielding asset attractive to syndicators and partnerships
- 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
- Currently operated under management with established staff.
- Reception/office under OA is located between the two towers and 42sqm storage in basement
- All inspections by appointment only