Queen's Wharf Residences: MR for sale in historic $3.6 billion Queen Wharf | Resort Brokers ID : OTP008389

Expressions Of Interest

Resort / Holiday Management Rights, BRISBANE CITY QLD

This is an unrivalled management and letting rights opportunity of immeasurable scale and quality that boasts a truly exclusive position on Brisbane's River in the heart of the city. Part of the magnificent Casino redevelopment, this extraordinary project delivered by Destination Brisbane Consortium, is set to revolutionise Brisbane's tourism market.

- Management rights for sale in historic $3.6 billion Queen’s Wharf Brisbane development 667 luxury apartments across three tiers:

- high-rise Diamond Residences, mid-rise Ruby Residences and low-rise Emerald Residences.

- Development is 100% sold with a projected range of 350-450 investors in letting pool, representing between 50-65% of apartments
- Queen’s Wharf Residencesistheonly residential tower directly connected totheQueen’s Wharf Brisbaneintegrated resort development (IRD),anhistoricprecinctthat willposition Brisbane as aworld-classtourism, leisure and entertainment destination
- The IRD isthelargestprivate construction project ever undertaken in Queenslandand is being developed byDestination Brisbane Consortium
- Queen’s Wharf Brisbane IRDcovers 10% of Brisbane’s CBD, spanning four city blocks of prime river frontage from Alice to Queen Streets and is directly linked to South Bank viathepedestrianNeville Bonner Bridge.
- Permanent rentals will reset the CBD rental market due to premium grade apartment finishes& amenity
- Body Corporate salary of $1.067M per annum
- Concierge service base salary of $180,000 per annum
- 25-year caretaking and letting agreements under Accommodation module
- Reception, back of house and storage under occupational authority
- Opportunity to lease a retail lot on level 4 for short-staycheck in service
- Due to complete by early 2025
- All inspections by appointment only

Date updated: 01 Nov 2024 00:00:04

More Information

Financial Overview

Total Purchase Price: Expressions Of Interest
Net Income: $ 0 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 0
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: undisclosed
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: 433
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 234
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 667
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 1,247,200
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 25 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: 8am to 6pm Monday to Friday
_{Required Office Hours}

Complex Features: Exclusive residential facilities and direct access to IRD Level 7 public realm and include a lap pool, spas, pool lounges, indoor/outdoor seating areas, BBQ and dining areas, residentsâ lounges, private dining rooms, steam room and sauna, gymnasium, yoga spaces, wine lounge, business centre, cinema and amenities.