SMSF serviced apartment investment opportunity in South Brisbane offers 7.5% return
A 27 square metre serviced apartment in South Brisbane promising returns of around 7.5% is being offered for sale aimed at self-managed super fund investors.
Located at 42 Montague Road and close to the Suncorp Stadium, it is managed by corporate accomodation operator AHR Group.
It is listed for $160,000 with a new 10-year lease is in place.The building currently operates as Riverside Hotel Southbank.
Facilities include hotel-style accommodation as well as an outdoor swimming pool. Body corporate and repair costs are borne by the manager.
According to RP Data, another 27 square metre unit in the building sold in December last year for $153,250. In the same month, another 27 square metre unit sold for $160,000.
“Annual net rental of $12,000 is guaranteed by the management rights operator AHR group,” George Koukides, the First National – Commercial listing agent said.