8 Wearne Street

Booval QLD 4304

This established Supported Accommodation property is being offered to the market for the first time in 17 years and it is a fantastic opportunity to purchase a great business and property in a central Ipswich location.

The mid-set building was constructed in circa 1993 and is situated on a gently sloping 1,822 sqm allotment in a quiet residential street. The building provides clean and comfortable accommodation for 29 residents in 14 rooms. 13 rooms provide twin bed accommodation with the remaining room being a triple room (Room 1). The property is further serviced by two sets of bathrooms, front and rear deck, lounge room, dining room, sitting room and porch. There is an office, store room, staff bathroom, laundry and fully serviced commercial kitchen. Externally there is a very large solar electrical system, ample onsite car parking, single garage storage shed and a large covered outdoor entertaining area for the residents.

The property is currently 96% occupied (one bed vacant) and enjoys minimal turnover of residents throughout the year. The residents are charged 85% of their pension for the accommodation which includes 3 meals a day plus morning and afternoon tea. The business is staffed with 3 full time personnel including a staff member that sleeps overnight as required. The owners generally work part time in the business and are now looking to retire.