ResortBrokers Director Alex Cook and Brisbane Broker Jeff Keast recently settled their sale of the management rights of Annexe Apartments for $8.3 million.
The sale of the 81-apartment complex in the inner Brisbane suburb of Bowen Hills was the first large, short-let management rights to settle in the Queensland capital since Covid. The sale eclipsed ResortBrokers’ previous post-Covid management rights record of the 46-unit Manor Apartments Hotel in Queen St that sold for $6.3 million.
A ResortBrokers Director since 2018, Cook specialises in large management rights transactions nationwide, particularly large, short-stay and off-the-plan developments. His previous landmark management rights deals include the sale of Soul on the Gold Coast, which set a record price of $25.7 million when it sold in 2015. Cook recently won ARAMA’s 2023 Broker of the Year Award and has been shortlisted as a finalist for this year’s upcoming REIQ Commercial Salesperson of the Year Award.
Keast started with ResortBrokers in February 2020 and has since sold 35 properties with a total value of more than $58 million over his three-year tenure. Earlier this year, he placed as a finalist for ARAMA’s Sales Broker of the Year Award for a second year in a row.
“Annexe Apartments is a particularly pleasing sale because it signifies Brisbane’s large-scale management rights market is back in full swing,” says Cook.
(ENDS)
BACKGROUND INFORMATION:
ResortBrokers is Australia’s longest established and most experienced specialist agency operating in the accommodation property sector. Established in 1985, it was the first brokerage to focus exclusively on sales of tourism and accommodation-related businesses.
Today, ResortBrokers proudly remains a family business and holds a firm position of industry leadership. Its national network of over 30 brokers in every state and territory handles the sale of motels, management rights, hotels, serviced apartments, backpackers, and caravan and holiday parks.
This article was contributed by ResortBrokers.
You can find more information at: https://www.resortbrokers.com.au/