Exclusive

HIGH NETTING, PERMANENT ESTABLISHED MANAGEMENT RIGHTS ON THE RIVER IN NEWSTEAD

The business only permanent management rights to Unison at Waterfront is an outstanding opportunity for high-end operators looking for a net in excess of $800,000 with no real estate to own and no requirements to live onsite. Boasting long tenure to 25 year accommodation module agreements, alongside a BC salary representing 60% of the base income and a well-run, established operation that you can walk into with no issues, gives incoming owners exceptional security.

Unison at Waterfront Apartments is a beautifully designed prominent complex located in Newstead just one block back from the Brisbane river front and a few minutes walk to the vibrant amenities of Teneriffe and New Farm.

  • 290 apartments with three commercial lots at ground level
  • Current on-site letting pool of 108 units + 21 externally managed rentals
  • Solid Body Corproate salary circa. $490K with annual CPI or 3% review (whichever greater)
  • Verified net profit of $812,235 per annum
  • Optional external rent roll of apartments in near vicinity – c. $50K NOP @ 3X
  • Substantial additional income through onsite unit sales.
  • ‘Clean P&L’ with substantial wage expense allocation
  • Topped up Caretaking and Letting agreements with over 21 years remaining
  • No requirements to live onsite and no real estate to purchase
  • Generous foyer entry with operational back office and several storage spaces under OA
  • Two lobbies, heated swimming pool centrally located, BBQ areas, gym, secure parking and CCTV
  • Fantastic position in Newstead, walk to CityCat ferry, New Farm park and close to restaurants and bars
  • All inspections via appointment only

 

Alex Cook

Interested? Why not give Alex Cook a call on 0467 600 610 or