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Teneriffe QLD 4005

Teneriffe QLD 4005

  • Hotel, Motel, Pub & Leisure
  • For Sale, $599,000 + $830,000 for Mgr Unit

A Rare Woolstore Management Rights Opportunity Welcome to Teneriffe Apartments | Resort Brokers ID : MR007976

    Unlock a rare lifestyle and business opportunity with ResortBrokers. Secure the management rights of the legendary Teneriffe Apartments, a heritage-listed WoolStore building, situated at the crossroads of Commercial Road and Arthur Street, seamlessly blending historical charm, modern luxury and commercial convenience.

    Enjoy the 99sqm two-storey loft-style Woolstore apartment, featuring two bedrooms, two bathrooms, and a spacious loft office space, with striking 8m tall ceilings.

    The substantial net profit of $137,277 comes with relatively minimal responsibilities and an exclusive onsite office, providing flexibility for business operations.

    Capitalise on growth potential with 23 apartments in the letting pool, with over 68% of the income derived from the Body Corporate salary. Business selling for $599,000 with an additional $830,000 for the spectacular two-bedroom manager's residence.

    Benefit from a stable income whilst relishing Brisbane's rich history and enjoying the benefits of a thriving property market.

    Contact ResortBrokers, as this fantastic opportunity won't last long.

    - Acquire management rights to the iconic, heritage-listed Teneriffe Apartments.
    - Ownership includes a unique 99sqm two-storey, loft-style Woolstore apartment.
    - Enjoy a net profit of over $137k (CPI increase coming) with minimal responsibilities.
    - Long 22 year agreements with a history of top ups and variations, showing an active body corporate
    - Majority of net profit derived from body corporate salary ($95,429).
    - Benefit from no set office hours with an onsite office under exclusive use.
    - Potential growth with 23 of 66 apartments in letting pool and 14 outside agents (2 self managed).
    - Prime location at the intersection of Commercial Road and Arthur Street, Teneriffe.
    - Inspections are by appointment only

    Property Highlights

    Floor AreaAsk Agent
    Land AreaAsk Agent
    ParkingAsk Agent
    Annual ReturnAsk Agent
    AvailabilityTenanted
    Property ID2018855538
    Category
    Last updated  18 Mar 2024
    Map for Teneriffe QLD 4005

    Property Highlights

    Floor AreaAsk Agent
    Land AreaAsk Agent
    ParkingAsk Agent
    Annual ReturnAsk Agent
    AvailabilityTenanted
    Property ID2018855538
    Category
    Last updated  18 Mar 2024

    Listed by

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