PROPERTY DESCRIPTION

The Observatory is a Caretaking Only complex which is located with stunning views, south over Kings Beach and North towards Mooloolaba.
Consisting of 39 large residential apartments it provides an exceptional entry complete with a beautiful water feature and beautiful maintained grounds.
Residents enjoy a heated lap pool plus a great BBQ area.

Management Rights – The Observatory Kings Beach

• New Caretaking and Letting agreements dating 16 March 2018 and running for a total of 25 years (10 + 5 + 5 + 5)
• No Real Estate Required to be Purchased
• Occupation Authority over Office and 2 storage rooms
• Office includes reverse cycle air conditioning
• Current operators do not do any rentals but agreements allow for rentals and sales
• All equipment required to fulfil the Caretaking duties are included in the sale

Caretaking income currently

$60,554.76 salary ($55,049.78 PLUS GST)

Annual Salary – CPI increase due April each year.

Other income items currently received
$ 780.00 internet allowance
$ 1500.00 approx in sales of access fobs and garage remotes

Following the salary increase in April 2022, The Management Rights has been repriced and is now being offered at the reduced price of $219,000.

Contact Agent Chris Hinkly for additional information