Primely positioned along Coronation Drive overlooking the Brisbane River, this tightly held inner city fringe management rights opportunity is being offered to the market for the first time in 15 years. The complex comprises 70 modern apartments across two residential towers, with an 18 apartment permanent letting pool.
The body corporate salary of $151,008 represents 72% of total income, providing a highly secure revenue base for the incoming operator. Facilities include a swimming pool and barbecue area, with manageable caretaking duties and no set office hours. The agreements operate under the standard module with nine years remaining, and are backed by a supportive body corporate with a strong history of top-ups.
The property offers excellent connectivity to the CBD and wider Brisbane via CityCat, bus and train services, and benefits from its proximity to the Wesley Hospital, Milton business district and Park Road restaurant precinct, underpinning consistent rental demand from professionals, medical staff and university employees. While the agreements require the manager to reside onsite, there is no requirement to purchase a manager’s unit, with the current operator renting a two bedroom apartment at $625 per week.
With the long term manager now retiring, this opportunity will appeal to both experienced operators and first time buyers seeking a secure income stream in a blue chip inner city fringe location.
Contact Jeff today to make an inspection!
Interested? Why not give Jeff Keast a call on 0414 669 007 or jeff@resortbrokers.com.au
