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

Contact Agent Chris Hinkly for additional information