Morningside, QLD 4170

Hotel/Leisure | Hotel/Leisure | Hotel/Leisure

For Sale $1,099,000

  • Property ID: 380184
  • Floor Area: 5m²
  • Occupancy: Vacant
Down Town Morningside

The current caretaker has been in position for almost 6 years and enjoys a very positive relationship with the Body Corporate, the Committee and Owners alike. Rental demand is always high for the complex and vacancies are easily filled when they arise as the owners maintain their properties to a high standard. There is 24 years to run on the 25 year agreement, with this being topped up a the last AGM in 2020. There are currently both gardening and pool maintenance contractors in place. You can continue with these service providers or take over and complete these duties yourself. Current caretaker salary is $73,705 with the next CPI increase due in June 2021. This complex requires the caretaker to reside in the assigned lot and adhere to the office hours As per the Caretaking Agreement, the Caretaker or Caretakers representative is to be in attendance at Baringa Reserve during such regular hours as shall from time to time be agreed by the Body Corporate and the Caretaker but in any event to be in attendance at least between the hours of 8am to 5pm Monday to Friday and 8am to 1130am Saturday. The current caretaker uses Property Me Software and all tenants pay by direct deposit. Office related duties take approx. 1 hour per day. As this is a relatively small complex, there are very few committee meetings to attend, approx. 4 per year.

Income $95,000
Unit $669,000
Business $430,000
Total $1,099,000

Please contact Robert Collins Exclusive Agent on 0404678792 or robertc@aas.com.au

Morningside Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial $3700 $191 5.17%
Offices $3644 $305 8.36%
Retail $9091 $604 6.65%
This is the average advertised price, rent and yield for Morningside, QLD 4170*
* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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