133/75-77 The Strand North Ward QLD 4810
Property Details for 133/75-77 The Strand, North Ward
Last Listing description (November 2020)
Colliers International is pleased to offer for sale the Management Rights and attached strata properties at 'Aquarius on the Beach'.
This landmark accommodation complex is located on Townsville's picturesque beachfront, 'The Strand'. With two street access from both The Strand and Mitchell Street, Aquarius comprises of a total of 156 Studio Units being 12 units per floor with 125 units in the letting pool, a two bedroom Managers Residence and 3 Managers Lots. Included in the sale of the Management Rights is the ground floor Managers Residence, being Lot 1, comprising of two bedrooms, one bathroom, and an outdoor area overlooking the pool with a floor area of 71 m approximately, Lot 2 includes the reception, office, boardroom, caretaker unit and various store rooms with a total area 372 m approximately. In addition Lot 333 which includes a caf area, kitchen and store rooms with an area of 60 m approximately.
Aquarius on the Beach generates circa $1.2m in net annual income and has maintained strong occupancy figures for many years with average occupancy rates around 70% based on the daily average room rate of $128 per room. The 25 year management contract, now with 17 years remaining includes an allowance for considerable manager salary of $116,389 pa. The asking price is based on a 5.3 multiplier plus the total value of the strata lots being $1,280,000 apportioned as follows,
The complex offers common facilities such as onsite management, large pool area, boardroom, internet room, meeting rooms, guest laundry, WIFI, CCTV, 2 passenger lifts and 1 service lift as well as considerable on-site parking.
The asking price is based on a 5.3 multiplier of the current nett income plus the total value of the strata lots being $1,280,000 apportioned as follows:
Manager's Residence (Lot 1) - $350,000
Reception / office (Lot 2) - $750,000
Caf (Lot 333) - $180,000
On a $1.2m nett income this equates to,
5.3 multiplier ($1.2m x 5.3): $6,360,000
Strata Lots: $1,280,000
Total Sales Price: $7,640,000
For further details or to arrange an inspection, please contact James Pascoe or Angelo Castorina at Colliers International Townsville.
Highlights:
* Only 14 Level Accom Tower on The Strand
* Selling on a 5.3 multiplier
* Considerable on site parking provided
Property History for 133/75-77 The Strand, North Ward, QLD 4810
- 30 Mar 2026Sold for $330,000
- 08 Apr 2019Listed for Sale $8,280,000
- 01 Mar 2018Listed for Sale $8,250,000
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0About North Ward 4810
The size of North Ward is approximately 2.4 square kilometres. There are 8 parks, covering nearly 19.0% of the total area. The population of North Ward in 2016 was 5065 people. By 2021 the population was 5073 showing a population growth of 0.2% in the area during that time. The predominant age group in North Ward is 20-29 years. Households in North Ward are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in North Ward work in a professional occupation.In 2021, 40.20% of the homes in North Ward were owner-occupied compared with 35.20% in 2016.
North Ward has 3,962 properties. Over the last 5 years, Houses in North Ward have seen a 38.71% increase in median value, while Units have seen a 86.93% increase. As at 31 July 2026:
- The median value for Houses in North Ward is $998,871 while the median value for Units is $565,277.
- Houses have a median rent of $600 while Units have a median rent of $495.
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