With such limited supply, an opportunity to acquire 40 large serviced apartments (rated 4 star) in the heart of Melbourne CBD under a 83 years remaining licensed agreement. Suited perfectly for an existing operator to add to their portfolio and offer CBD accommodation or an owner/operator to be hands on with a 3 bedroom residence available. Currently 82% occupancy and opportunity to enjoy future growth. There is 149 apartments in the building and 70% is investor profile with a further 60 apartments to secure in the letting pool. Walking distance to the the Melbourne amenities and located in the Paris end of Melbourne.
- 99 year license agreement with 83 yrs remaining as the exclusive operator including the reception and basement
- 40 large serviced apartments, comprising of 2 x 3 bedroom, 30 x 2 bedroom and 8 x single
- In the heart and Paris end of Melbourne CBD
- Reception desk located on ground and street level
- Occupancy of 82% with ADR of $200
- Opportunity to seek additional 60 apartments to place into the letting pool
- Net $107,000 after rent
NB: Property inspections are by appointment only
