INCREDIBLE SCALE MIXED-USE SERVICED APARTMENT IN MELBOURNE NOP $940K+ | Resort Brokers ID : MR008821

$4,433,965

Resort / Holiday Management Rights, West Melbourne VIC

With a net profit close to $1M and an impeccable reputation as one of Melbourne's premier short-term buildings, the opportunity to acquire the award-winning management rights and concierge agreement to Deague Group's Melbourne Village is second to none.

- Two towers, 21 and 27 levels respectively, with a total of 496 apartments& 33 townhouses
- 199 apartments in combined permanent and short-term letting pool
- Average occupancy over 80% in short-term pool
- Verified net profit by industry accountant McAdam Siemon of $943,839 per annum
- Concierge salary over $300k p.a and OC salary close to $600,000 per annum
- Building commenced operations at the beginning of 2020 based on 25-year agreements
- Reception/concierge hours are 7 days per week, 24 hours
- High calibre facilities include 25m pool, business lounge, cinema, gym& wellness area, library& lounge
- Property consists of 1- and 2-bedroom apartments with established apart-hotel branding
- Two person management team staff the building assisted by contractors for cleaning and maintenance
- 53 units are under a short-term leaseback model, 25 in the holiday pool and 121 permanent rentals
- Upside opportunity to convert outside agents back into letting pool
- All inspections by appointment only
Date updated: 27 Aug 2025 23:00:01

More Information

Financial Overview

Total Purchase Price: $4,433,965
Net Income: $ 943,839 (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: 199
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{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: 330
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 529
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 593,722
_{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: 24 hours 7 days a week
_{Required Office Hours}

Complex Features: High-end reception, central podium garden, indoor swimming pool, residents lounge/library, business lounge, art house cinema, gym and wellness room.