Four Star Luxury Serviced Apartments and Holiday Accommodation in the heart of Brisbane
Conveniently located within the Spring Hill corporate precinct, central to everything Brisbane has to offer. Spring Hill is an inner city suburb of Brisbane located only two kilometres north of the CBD.
The suburb neighbours the buzzing suburb of Fortitude Valley, where you will find endless cafes, restaurants, bars and China Town. Victoria Park is not far away for those wanting a game of golf and head across the river to South Bank Parklands for a swim or eat at one of the many cafes/ restaurants or enjoy some entertainment whether that be browsing the markets or to see a show at the arts centre etc. The location is second to none!
Location and amenities:
-5 minutes walk to RNA showgrounds
-5 minutes ride to Royal Brisbane Hospital and 10 minutes to Mater and Wesley Hospitals
-10 minutes walk to Centenary Pool and Zest Gym Complex
-15 minutes walk to Queensland University of Technology/ Queensland Medical School
-15 minutes walk to Fortitude Valley Shops, China Town, Bars and Market
-15-20 minutes walk to the heart of the CBD with bus passing the door
These 22 luxury apartments are serviced weekly with plenty of secure undercover parking. Each apartment is air-conditioned and offers private balconies with city, park or street views. All apartments have laundry facilities and a full kitchen with a dishwasher and microwave. The living areas include LCD Smart TVâs and Internet.
The P&L was produced for 12 months ending in August 2017, the income is $312,149. From February this year the manager has removed the rental guarantees and this lead to some owners removing their unit from the rental pool. This has impacted the income but has now stabilised.
Occupancy is now on the rise and some of the owners are now looking to come back in the pool. All systems are in place, the cleaners do the common areas and the part time receptionist is happy to stay on. Although a 2 person team or partnership could save this wage.
Overall an exciting opportunity to buy an established business with plenty of upside! Donât miss this one!