Permanent Management Rights in Annerley are a very rare commodity.
The complex consists of 1 Bedroom Units and targets the Student and Hospital worker population and is very popular.
Annerley is approx a 5 minute drive from South Banks and West Ends popular cafe areas and close to Train & Bus stops, Supermarkets, University and hospitals!
In short; established, inner city permanent complexes are as rare as hen’s teeth in Brisbane.
The selling points do not end there. With 66 units in the complex the Body Corporate salary of $80,820 is very generous especially when you consider there is only about 20 hours of caretaking per week.

There are no set office hours. The current owner also manages a small rent roll of 4 units outside of the complex.
The office is located away from the managers unit and is exclusive use. This makes it ideal to work with the outside rentals.

Due to the fact that the current owners are heading toward retirement they have not explored additional income streams much as another couple might.
An examination of the P&L will reveal how ‘clean’ it is. In other words, almost all income comes from core stream of
Body Corporate salary and letting commissions. There is good scope for new management to build the bottom line by carrying out maintenance themselves (instead of using contractors) and offering extra gardening etc.

The current managers have been there for 6 years and are given a good amount of autonomy to do the job as they see fit.
The caretaking and letting agreements have been recently topped up and currently sit at 19 years, providing excellent security.
We simply cannot think of anything negative to say about this property.

An absolute rare gem that will sell quickly!