Under Contract
ICONIC RIVERSIDE MR COMPLEX WITH NET PROFIT OVER $1M
Hamilton Harbour Residences enjoys a prime riverside setting in burgeoning Portside area, showing a huge net profit in excess of $1m, strong and stable letting pool, well priced manager's unit ($495K), fantastic podium level facilities and a very well-established, professional management team in place.
- Great BC relationship; pro-active, supportive, and easy to deal with
- Agreements topped up to 25 years max 2 years ago…so 23 years remaining
- Prime inner-suburb Brisbane location, built across two high-rise apartment towers of 22 and 18 levels each
- Large-scale property with 475 lots, with strong letting pool well in excess on 200 appointments (221)
- Comprehensive facilities including a reception, office (space for 6 people, split over two areas) and vast storage spaces
- Modern manager's unit with 1 bed, 1 bathroom, currently occupied by on-site cleaners fulfilling on-site requirement (only $495K)
- Exceptional podium amenities including swimming pool, spa, and outdoor Barbeque and seating areas.
- Secure and convenient property with basement car parking, secure entry, and lift service.
- Significant additional income not included in P&L through on-site unit sales (ab out 100K per annum).
- Very clean P&L with extremely healthy wage allowance (only addback is GM and one other…no further adjustments).
- Guide price at $7.5m is based rougly on MR business at $7m+ and Unit at $495K
- All inspections by appointment only
