“Glen Alvie” is a successful and profitable business which comprises of two properties that provide affordable accommodation for patients of the Prince Charles Hospital. “Glen Alvie” is located within 100m from the Prince Charles Hospital which provides a constant supply of patients looking for either short-term or medium-term accommodation. This ensures an endless stream of clients to maintain an optimum occupancy level and a guaranteed income throughout the four seasons.

Well located on a public transport route and 800m from the major shopping centre Westfield Chermside, this superior investment property boasts many enticing opportunities to take advantage of, in the extremely buoyant accomodation market that South East Queensland is currently experiencing. Both properties have the added benefit of favourable zoning which allows for development potential now and well into the future. 541 Rode Road is zoned MR and 81 Ethel Street is zoned LMR.

The business is structured in such a way that there are two options for “Glen Alvie’s” clientele, lodge style accommodation (Glen Alvie Lodge) or apartment style accommodation (Glen Alvie Apartments). Both properties are within 200m of each other and the reception is located at Glen Alvie Lodge – 541 Rode Road, Chermside. Glen Alvie Lodge has nine bedrooms with two beds per room. There are two showers and two toilets for men and two showers and two toilets for ladies. There is also a large open lounge/dining area which is furnished with chairs and tables. All bedrooms have reverse cycle air-conditioning (cooling and heating) as does the lounge/dining area. There is a laundry and a library available for use by all tenants which is well received considering the likelihood of medium-term tenancy. There is also a caretaker’s residence downstairs which has three bedrooms, a large double bay garage with roll-a-door, and a private courtyard surrounded by a tropical garden. This private oasis allows for the owner operator/caretaker to enjoy their privacy and still have an intimate knowledge of the business operation. To increase the return on this property even further, there is potential to increase the number of rooms available for clients and maximize return potential by converting approximately 150m2 of the caretakers flat to more rooms.

The other component of this business and investment property is Glen Alvie Apartments which is located at 81 Ethel Street, Chermside. Well presented, these apartments are self-contained and self-catering and have reverse cycle air-conditioning. There are 4 x 1 bedroom apartments and a 1 x 2 bedroom apartment. The property is of brick construction and there are 3 undercover garages and 2 carports, with a laundry and a storage room for supplies. There is potential to convert two of the garages to studio apartments and increase the amount of rooms for rent.

Glen Alvie Apartments is a fantastic standalone investment property and combined with Glen Alvie Lodge the two properties magnify each others earning potential considerably. Hurry and call the agent today for more information.

Two properties
Four bedroom caretakersowners flat
Quality structure
High occupancy
High return
MR and LMR zoning
Walking distance to hospital
Close to shops
Public transport route
Development potential