STUNNING SOUTH MELBOURNE MID-RISE - CARETAKING BUSINESS WITH LETTING POTENTIAL

Park Ave. is a boutique residential building developed by Milbex and completed to a superior standard in late 2021. The caretaking and management rights to this high-end apartment complex is underpinned by a very generous OC salary and 25 year Agreements with 23 years remaining.

  • $302,550 p.a. Owner's Corporation salary + $65,910 cleaning budget
  • Impressive building design with 161 apartments over 17 levels
  • Elegant foyer / concierge reception with back of house operational areas plus storage
  • Long tenure remaining on 25 year Caretaking and Letting Agreements
  • Opportunity to take on letting pool of developer held units (30) and a further 10 in their previous development opposite
  • Luxurious on-site residential facilities including wellness zone with spa, sauna and gym, private lounge & dining room
  • Prime inner-city location of South Melbourne near transport, key amenity and entertainment
  • All inspections by appointment
Listing Ref MRB007764
Property Type Management Rights
Sale Type Management Rights - Business only
State VIC
Region Melbourne
Suburb SOUTH MELBOURNE
Net Profit $368,460
Price $1,473,840
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Tim Crooks

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