Short Term Management Rights - Victoria's Largest Rural City.
Short Term Management Rights - Victoria's Largest Rural City.
Short Term Management Rights - Victoria's Largest Rural City.
Short Term Management Rights - Victoria's Largest Rural City.

Short Term Management Rights - Victoria's Largest Rural City.

$2,000,000Under Offer

An ideal opportunity to secure the Management Rights and Caretaking of a 37 keyed 4.5 Star short term serviced apartment complex opened in February, 2016. Devlin Apartments is situated in a beautifully restored building of the “Georgian Revival” style at the original Gordon Junior Technical school built in the 1920's. The Devlin has retained the heritage exterior of this truly iconic building with the interior being converted into 28 (37 keyed) boutique apartments encompassing three distinct architectural styles. The three styles encompass New York Loft, Contemporary and Industrial Chic.
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Key Features

  • 37 quality studio, one and two bedroom serviced apartments and motel units.
  • The only 4.5 star rated accommodation development in this growing region of 300,000 people.
  • Completely refurbished historic building with three distinct style of apartments/units.
  • Quality finishes, furniture, appliances whilst retaining a link to the buildings past.
  • Manager’s apartment with direct access to foyer/reception ($400,000).
  • Caretaking agreement (ten years from April, 2016 with 4 x 10 year options).
  • All apartments in the letting pool.
  • Enjoying substantial occupancy and excellent revenues.

NB: Property inspections are by appointment only

Key Details

Listing Ref: MR004952
Property Type: Apartment Hotels
Region: VIC - North
Suburb: Geelong
Sale Type: Management Rights - All
Net Profit: $397,728
Price: $2,000,000

Listing Agent(s)

Agent Feedback

I have known Jim Chapman for well over 10 years as we have been heavily involved in the tourism sector throughout the East Coast of Australia, however we had never actually had a business transaction take place simply because of one reason or another, so it was with great pleasure when we were finally able to team up together to sell our Quest Apartment business in Echuca. The sale was handled with the highest level of professionalism and just as importantly the sale process was very straight forward and streamlined, we were able to complete a sale that met with our expectations, not only in terms of the sale price but also with regard to the marketing and the sales process time frame that we had advised Jim we wanted.I would have no hesitation in recommending Jim Chapman if you are considering selling your business.

- David Broughton
Franchisee Owner,
Quest Echuca

We have worked with Jim Chapman on two separate business sales for Quest Potts Point (NSW) and more recently Quest Beaumont Kew (VIC).  On both occasions we found both Jim and Resort Brokers extremely attentive & professional.  Jim was able to give us beneficial advice throughout the process and was a great support personally for both the purchaser and ourselves.  We highly recommend Resort Brokers.

- Steve and Liz Galea
Vendors,
Quest Beaumont Kew

I had the pleasure of meeting and dealing with Jim Chapman at Resort Brokers nearly four years ago during the sale process of our first Quest business. Having being so pleased with the way Jim dealt with the first sale, I approached Jim to sell my next Quest business where again Jim delivered the sale with excellent results. I found Jim a true Gentleman and professional. Jim's communication was consistent and advise during the sale process was invaluable putting my mind at ease and delivering me a stress free sale. I would highly recommend Jim Chapman to sell your business and I will certainly approach Jim to sell my next business. Thanks Jim, good luck and keep up the great work that you do!

- Chris Brown
Vendor,
Quest Moorabbin