Central Plaza Apartments & Terraces

Best Western branded corporate property, with consistently high occupancy via the QLD Government, this property is favoured by the corporate health care professionals. Very simple business to operate with a good body corporate salary. Very little travel wholesalers. The property consists of two management rights one is Central Plaza Apartments & the other is Central Plaza Terraces the Apartments consists of 36 one bedroom units and 4 two bedroom. The Terraces consist of 22 two bedroom two story townhouses. Good body corporate and committee. New PAMD agreements & Schedules with increase yet to be shown on the net that should see it rise by $35,000 due to revised cleaning charges that havent changed in 5 years. This property can be run under management as there are good staff in place who can stay on if required. The current owners dont really push the tour sales and this is also an area for growth.

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Total Units: 62 Letting Units: Managers Unit: # 1

1 Brm: 36

Holiday: 33

Perm: 13

Townhouses:22

Owner/O:14

O/Agents 1

Lockups: 0

Size: 87 m

Age: yrs 8

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Body Corporate Manager: Body Corp Services

Body Corporate Fees: $2654 pa Council Rates $1800 pa

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Amenities: Tour Desk, 2 pools, BBQ wireless in whole complex

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Office: On Title B/C Agreement yrs

Storage : excl use (plenty) Years to run: yrs

Inventory: Computers PABX B/Salary: $73,819 +gst Increases: CPI

Hours 8am -7pm Building Type: 3 level walk up

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Computer system EzyRez Vendors Occupancy: 1.5yrs

Nett: $328,000 forcast Pets Allowed: No

Occupancy Rate: 76% Employ Cleaners: 2 Casuals

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Linen Charges: $19.90 per 1 bed (gst incl) $26.90 (2 Bed)

Cleaning Charges: 1 Brm $60 2 Brm:$66.00 3 Brm:$ Studio $

TV Charges $ Advert: 5.5% gross PABX: $27.50 P&P $8.80

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Unit Value: $ 300,000

TOTAL Price: $1,795,000

Every care has been taken to verify the accuracy of the information contained in this document, but no warranty (either express or implied), is given by the agent as to the accuracy of its contents. Proposed purchasers should conduct their own investigations into all matters relating to the proposed purchase of the management rights business.