Under Offer

BOUTIQUE SHORT-STAY MR IN PRIME SOUTH BRISBANE LOCATION

ResortBrokers brings exclusively to market the mixed-use management and letting rights complex of ‘Vine Apartments in South Brisbane’. This modern 9 level building is netting close to $500K, and is a rare ‘business only’ offering with no real estate to purchase and no requirement to live on-site. With numerous permanent letting to convert to short-stay, and lots of externally managed units, there is a huge amount of potential upside.

  • Verified net profit of $491,401 per annum
  • Total of 56 apartments and 1 retail lot in building
  • 34 units in letting pool, with 18 short-term and 16 permanent letting appointments
  • Managers office and reception under Occupational Authority
  • 9 externally managed units to win-back
  • Body corporate salary of $122,500 per annum
  • Single BC scheme governing complex
  • Easily run by two person managment team with contract cleaners
  • No requirement to live on-site and no real estate to buy
  • Superbly located close to all the amenities in South Bank and South Brisbane
  • All inspections by appointment only

 

Listing Ref MRB008454
Property Type Management Rights
Sale Type Management Rights - Business only
State QLD
Region Brisbane
Suburb South Brisbane
Net Profit $491,401
Price $2,850,000
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Alex Cook

Interested? Why not give Alex Cook a call on 0467 600 610 or

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Jessie Shi
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