Riverside Permanent Management Rights, Kangaroo Point
Management Rights
ActiveHospitality & TourismQueenslandB2C
Asking price
$2,602,000
Disclosed · AUD
Revenue (est.)
~$2,028,632
Estimated · comparable listings of this type and size
Net Profit
$505,738
Implied multiple
5.1×
asking / earnings
Brief
- Permanent management rights over four mid-rise apartment complexes with prime Brisbane river frontage at Kangaroo Point
- 167 units in total, with a portion in the on-site letting pool and further units under external management
- Good tenure remaining on the caretaking and letting agreements, plus office and storage areas provided
- Growth potential through converting outside agents into the pool and via on-site unit sales
- Manager required to live on-site in a two-bedroom, two-bathroom unit, currently occupied by an employed property manager
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