Address available on request,
Preston, VIC 3072

The great city of Melbourne has consistently been acclaimed as one of the best cities in the
world for quality of living, education and healthcare. Located on the northern edge of inner metropolitan Melbourne is the City of Darebin, with its vibrant suburbs of Northcote and Preston.

On offer are the management rights to a well established permanent letting complex, built in 2011, comprising 109 units in total. The 109 units are spread across three buildings, each separated by the landscaped courtyard areas. The development has been designed to maximise the use of light and space, and meets the minimum BCA (Building Code of Australia) 5-star standard for energy rating and efficiency.

The caretaking and letting agreements are for 10 + 10 + 5 years as of October 2011.

There are a total of 109 apartments in the complex of which 59 are currently in the letting pool. The manager's office is available for the exclusive use of the manager granted by way of a licence to use agreement.

The Body Corporate salary is $128,224 (plus GST) and will be subject to annual increases.

The approximate nett income is $210,371 for the 12 months ending 31March 2014 as provided by the current vendor.