Queensland's best MR listing! - High net mixed-use building in central Brisbane | Resort Brokers ID : MR007706
Republic Apartments in central Brisbane is a jewel in the short-term management rights space! Featuring 89 residential units of which, 21 units are in the permanent letting pool, 10 units are in the short-stay letting pool and 11 units are let under a leaseback/performance guarantee agreement, as of the date of our report.
With the profit increasing month by month and a very competitive multiplier, ResortBrokers offers this opportunity to the market exclusively on behalf of its valued clients. This management rights offers the right to operate the mixed building with an onsite office which is on title and manage the letting of apartments on behalf of individual owners. The successful purchaser will also be responsible for the management of the common areas of the building. The current owners have spent over 10 years building up excellent relationships with all stakeholders in the business including the Body Corporate committee and owners.
The management rights has a net profit of over $650,000 per annum as reported by an industry-recognised specialist accountant, Holmans. This is a rare opportunity to acquire a profitable business and the potential for further expansion. The business has a secure income stream from long-term management agreements with the owners of the individual apartments. There are currently 23 years remaining on the accommodation module agreements.
We invite all interested parties to register their interest and submit their offers for consideration.
- Over $650k net profit - Experience Brisbanes booming short term market leading towards 2032 Olympics - Building is in fantastic condition with supportive Body Corporate - Rare mixed use building on the city fringe - 23 years remaining on agreement - Security of permanent and short term letting - On title manager's office linked to 2 bedroom unit with amazing views - Inspections by appointment only