This 181-lot complex, originally developed by the reputable Lechte Corp, features a diverse selection of apartments and townhouses, offering a perfect blend for both short-stay and permanent residents. With 80 lots currently within the on-site letting pool, including 41 short-stay units and 39 dedicated to permanent tenancies, the complex has consistently maintained high occupancy rates and stability in both sectors.
Ease of management is one of this complex's greatest strengths. The property is managed by a full-time property manager, supported by a dedicated receptionist, housekeeping team, and a part-time cleaner for the common areas, all of which are well-kept and easy to maintain. The modern setup requires no on-site residency for managers, and the complex remains attractively presented, showcasing well-maintained areas that promote cleanliness and appeal to tenants and guests alike.
A standout feature is the manager's 3-bedroom unit, included in the letting pool and generating an additional $45,000 per annum in gross income. The short-stay side of the business is consistently in demand, driven by nearby hospitals, Monash University, and bustling business parks, making it resilient to market shifts. Post-pandemic, the short-stay business has shown continued growth, achieving over 83% occupancy and rising ADR, creating an enticing opportunity for new managers. There is excellent potential to increase income by converting additional permanent units to short-stay to meet demand.
Furthermore, there is a promising opportunity to bring in the 62 apartments currently managed by outside agents. The current managers have not pursued these apartments actively, leaving substantial growth potential for new owners interested in expanding the on-site letting pool.
The management rights (MR) business is well-established, supported by strong caretaking and letting agreements, and includes essential operational spaces such as a professional reception area, linen and cleaning rooms, and a manager's office. The supportive committee has a reliable history of topping up agreements, ensuring long-term stability for incoming managers.
Clayton Serviced Apartments represents an exceptional MR opportunity, ticking all the right boxes: high and stable NOP, flexibility to live off-site, potential for revenue growth, and low-maintenance operational facilitiesideal for owner-operators, syndicates, or corporate investors seeking a stable, low-effort, high-return investment.
This is one of Victoria's best MLR's with high profit that could sustain operation with managers in place making it a passive operation for the incoming owner.
**Ras360 Specialists in Management Rights | Motels | Hotels | Pubs | Parks**
