528/1a Glenelg Street, SOUTH BRISBANE, QLD, 4101, 7.43% net return in Brisbane CBD
An extremely rare opportunity presents itself with this spectacular "King Suite", located in the sought after Rydges South Bank Hotel! With returns that are unparalleled across Brisbane and a location that is near impossible to match, the sophisticated investor cannot argue that this represents one of Brisbane's finest investment only apartments!
The 5th floor 82sqm one bedroom suite is the biggest and best floorplans in the hotel and is positioned at the Southern end of the building. Offered for sale for the first time since new, it boasts spectacular views of South Bank and the river across to the CBD and the new Queens's Wharf Casino!
The complex itself is located on the popular Grey Street, in the heart of Southbank's entertainment precinct with bars, restaurants, the Cultural Centre, Performing Arts Centre, GOMA and theatres literally at your doorstep.
The complex is Queensland's premier Managed Investment Scheme where the hotel's profit is shared amongst the owners and all expenses (except council rates and water) are paid by the operation providing owners with outstanding returns. This purpose built complex features 304 stylish rooms and suites plus:
- Conference facilities
- Pool, spa and sauna
- Business Centre
- 24 hour Room Service dining
- Private walkway access to the Convention Centre
The complex has been completely refurbished in the past two years and presents as new. During the 2017/18 Financial year the investment returned $36,223. After deducting council rates and water the apartment showed $33,438 net (approx). For a detailed information package including financials audited by Ernst & Young, please contact Roy Schwenke on 0408 485 085.
The property will go to auction on Friday 23rd November 2018 at 10.30am in Ray White Corporate's auction rooms although prior offers will be considered. Firm instructions have been given by the retired owners that this will be sold so make your enquiry today. This is an extremely rare acquisition with the last sale of a similar King Suite in the complex by our office being in 2010.