SPRING HILL QLD 4000
$215,000

DESCRIPTION

MASSIVE PRICE REDUCTION FOR EARLY SALE. The Vendor has reduced the price by a very substantial amount. Vendor moving inter-state to be with family. The building is located in a prime position on the fringe of Brisbane's CBD. It has a 4 star rating and was recently awarded, by Booking.com, a certificate in recognition of its'very high enquiry and booking achievements. Lots of repeat business.
The complex presents the apartments to a very high standard, complete with Smart TVs and WiFi. These two items alone make the building a top destination for repeat business, travellers or longer staying tenants.
The business can be run by a two person team although the current Manager chooses to employ staff. A wages expense has been built into the P & L.
The complex was recently internally re-painted and new carpet laid throughout. The exterior is due for a re-paint this year with all cost coming from the sinking fund.
Interested buyers will need to sign a CONFIDENTIALITY STATEMENT before sighting more detailed information. A Profit & Loss statement has been prepared by an Industry Accountant for a Purchaser's peace of mind. Please contact Jim Prentice Reveal Phone or E Send Message in the first instance.

The asking price of $2.6m includes the spacious manager's apartment on the 2nd level.

All rooms have Smart TV's and WiFi system installed, paid for by the current Manager. This entertainment income at $25 p/night per booking is included in the tariff.
Currently the building is top of Booking.com for enquiries and running about 70% occupancy which is above the average for short term letting.
Buses at the door, Supermarket a two minute walk away.