Exclusive
BUILDING MANAGEMENT - OFFERING HIGH OC SALARY AND SECURITY OF 24 YEARS ON BMA
Secure a sizeable building management agreement over a modern apartment complex located in the vibrant suburb of West Melbourne. Comprising a total of 198 apartments, the business is underpinned by an OC salary over $270,000 and has the added security of long tenure remaining on the 25 year BMA.
Secure a sizeable building management agreement over a modern apartment complex located in the vibrant suburb of West Melbourne. Comprising a total of 198 apartments, the business is underpinned by an OC salary over $270,000 and has the added security of long tenure remaining on the 25 year BMA. The Marker comprises of three low rise buildings set over five expansive retail lots and has major tenant Aldi already well-established. Ideally, there is no requirement for the managers to own a lot or reside onsite making this a genuine business-only acquisition.
- Net profit
- $272K
- Asking price
- $998K
- Management Rights - Caretaking only
The business at a glance.
- Established in September 2022, with BMA commencing in August 2025 leaving 24+ years remaining
- 25 year Building and Letting Management Agreements
- Owner's Corporation salary of $272,006 per annum with yearly CPI increase
- No real estate to purchase, no requirements to live onsite - business only
- 198 apartments across three buoldings with ground level retail
- Reception, office and storage under licence for exclusive use by management
- Amenities include stylish foyer entries, landscaped courtyard garden, private dining & lounge areas.
- Building Manager must be contactable during specified office hours
- All inspections by appointment with agent only
The asset, the manager unit, the location.
West Melbourne, VIC
West Melbourne, VIC
Talk to the broker.
Enquire about this property
Tim Crooks
Director of New Developments & Hotels
0422 208 450
07 3878 3999
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Run the numbers yourself.
Same model our brokers use to appraise. Adjust net profit, multiplier, real estate component. The result is indicative — independent appraisal available on request.
Request appraisalIndicative total$1,006,422
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