'YUNGABA' KANGAROO POINT - IMPECCABLE RIVERSIDE PERMANENT RIGHTS $500K+ NET

Yungaba boasts a premium river front location in Kangaroo Point and offers an exceptional foothold for permanent management rights operators. This iconic complex hosts a total of 167 units across its four mid-rise buildings and is home to the historic Yungaba House. Firmly established as a permanent management rights business, it has 47 lots in the letting pool, plus 7 external managements and the exclusive Caretaking agreement to neighbouring property Silt. With 20 outside agents, there's scope for growth to convert back into the onsite letting pool and through residential sales. It offers incoming managers a stable and secure business that's easy to manage and generates a net income over $500,000 per annum supported by a combined body corporate salary of $392,917 per annum. Currently run under management by a very experienced team including full time learner and maintenance person plus gardener. There are no set office hours, but there is a requirement to live on site in the stunning 2 bedroom apartment (currently fulfilled by the employed property manager). A superb management rights opportunity best suited to an experienced two-person team to run efficiently and, with a hands-on approach, there is good upside to revenue potential. Call Jessie or Alex today for all the details or to arrange an inspection.