This buidling has been around for a number of years and there are clients that will stay nowhere else when in Brisbane. Surprisingly there is little competition in the area and one must come back to the Valley or CBD to find suitable short term accommodation. The property fronts the Brisbane River and there were no problems in the recent floods experience in Brisbane.

THE BIG NEWS HERE IS THAT THE BODY CORPORATE HAVE VOTED TO TAKE THIS BUILDING OVER TO ACCOMMODATION MODULE POSSIBLY GIVING BRAND NEW AGREEMENS UP TO 25 YEARS!!!!

Body Corporate Salary is healthy in respect to the number of units within the building and the bottom line in quite impressive with the building experiencing good occupancy rates.

Manager’s Accommodation: 2 Br ensuited with large balcony, A/C & Sec Carpark
Total Units in Complex: 38 x 2 Br Apts
Total Units in Rental Pool: 21 X 2 Br Apts
Rental Figures: $230 per night
Occupancy Rate: High 70′s – Low 80′s
Complex Facilities: Pool & BBQ Area
Module: Standard
Years to Run on Agreements: 8 yrs
Equipment: Body Corporate
Pets: No
Ass Clauses SIgned: Yes
Office Program: Puma
Office Hours: As Required
Storage: Plenty – Exc Use
Reception: Yes – Exc Use
Body Corporate Salary: $62,812

Manager’s Apt Price: $690,000
Business Price: $1,190,000

Net Profit: $245,000

(Purchasers should rely on their own due diligence figures for verification of Net Profit)

This is a great Business that will continue to grow with the lack of corporate apartments in the CBD area. You are just out of the rat-race so to speak but have all the requirements for short term clients. The vendor will include the rental income from nearby building which will add a further $12K onto the figures for the right offer.

BRAND NEW ACCOMMODATION MODULE AGREEMENTS ON THE WAY!!!

Call Don Brady on 0400 211505 for more information or an inspection at any time.