Under Offer

TENERIFFE'S CREAM OF THE CROP - $287K NET BUSINESS-ONLY

ResortBrokers proudly present this premium quality, business-only management rights located in the vibrant inner-city suburb of Teneriffe.

  • Business was under contract however, purchaser had to withdraw due to personal reasons
  • Net profit of $287,048 has been independently verified by previous purchaser accountant by Sam Hodgetts of McAdam Siemons
  • Additional $27,750 income is produced from rental of manager's lot – creating overall net profit of $314,798
  • Very desirable high-rise building with Woolworths Metro tenancy on ground level
  • Built in 2019 it comprises 66 modern apartments
  • 57 units in the letting pool (excluding the manager's lot)
  • All developers stock has been sold down
  • Large 14sqm storage area on ground level for operator use under OA
  • Solid BC salary of $103,484 - reviewed on CPI index
  • 22 years remaining on Caretaking and Letting Agreements
  • No requirement for the manager to live on-site or own a unit in the building
  • Freehold 2 bed / 2 bath + MPR - $685K (can be sold separately)
  • Rooftop swimming pool, dining area and open lawns
  • Strong tenant demand and consistent low vacancy rates
  • NB. Business price is calculated on $287,048 net profit x the multiplier of 6.3x

Inspections by appointment only and all offers via formal submission process

Tim Crooks

Interested? Why not give Tim Crooks a call on 0417 544 562 or