First Time Ever to Market - Newstead MR Netting $489K+

ResortBrokers are delighted to offer the outstanding opportunity to acquire the permanent management and letting rights to Nero, located in the prime inner-city suburb of Newstead.

  • Verified net operating profit by specialist industry accountant of $489,497
  • No requirement to live on-site or own a lot in the scheme
  • No set office hours stipulated in the agreements
  • Nero is a contemporary 9 storey residential building with 107 apartments
  • Current letting pool consists of 80 units
  • Good mix of finely appointed one, two and three bedroom apartments with superior quality finishes
  • 25 year agreements, commenced in November 2017
  • Strong Body Corporate salary component of $135,717 + GST
  • Associated real estate (Lot 1 on title) located on ground floor includes a reception, large back office, meeting room and private study (92sqm) and a ground level carpark. There are also several other storage areas throughout the building under exclusive use. Purchase price: $500K
  • Option to buy 4x tandem lock-up garages (45sqm each) which can be utilised for your own purposes, rented out or sold off to other lot owners in the scheme.  Purchase price: $400K
  • Prime Newstead location close to all major amenities, transport options, Valley, CBD and riverside lifestyle.
  • Rooftop facilities include a heated pool, sauna, steam room and gym.
  • Other common facilities include a Teppanyaki BBQ, pizza oven, resident's lounge & meeting room located next to the pool and visitor parking bays.
  • All apartments are equipped with electronic swipe cards/key pads making this an easy to operate building with straight-forward access to every unit. 

NB. All inspections are by appointment only.

Tim Crooks

Interested? Why not give Tim Crooks a call on 0422 208 450 or