Alderley, Queensland
Who is looking for a Business Only on Brisbane Northside?
$899,500 - Business Only
Business Description
An exceptional management rights opportunity is now available in Alderley, Brisbane. Locale Apartments in Alderley is a well-established complex consisting of 46 stylish one- and two-bedroom apartments across five levels, with two retail premises located on the ground floor. The business includes both on-site management of the complex and external property management, offering a diverse and reliable income stream.
The letting pool features 20 apartments within the complex, while two external properties located in Cannon Hill and Camira will remain under management. There is also potential to include two additional external properties, which could further enhance the income. The business currently generates an annual net income of $163,559, which includes $157,745 from the Locale Apartments complex and $5,814 from external properties. The property has been price with this blended profit in consideration.
The Caretaking and Letting Agreements, established in October 2016, have been extended to 2046, ensuring stability and long-term value. The body corporate salary increases by 5% annually, providing predictable growth in revenue. Duties for the caretaker are straightforward, including cleaning, general building management, and maintaining the small garden areas, which require minimal attention per month.
With its established income, minimal workload, and long-term agreements in place, Locale Apartments presents a fantastic opportunity for an experienced operator or someone new to the management rights industry. Contact Ras360° today to learn more about this outstanding business opportunity.
**Ras360° – Specialists in Management Rights | Motels | Hotels | Pubs | Parks**
Business Summary
Business Snapshot
Price: $899,500 - Business Only
Net Profit: $163,559 Remuneration / Body Corp Salary: $109,754
Complex Information
Complex Type: PermanentTotal Units in Complex: 46Total Units in Letting Pool: 20Owner Occupy Units: 15Outside Agent Units: 8Agreement Term: 25 yearsAgreement Term Remaining: 21 years
Key Investment Insights
1. The business for sale is an exceptional management rights opportunity in Alderley, Brisbane.
2. The complex consists of 46 stylish one- and two-bedroom apartments across five levels, with two retail premises on the ground floor.
3. The business includes both on-site management of the complex and external property management, providing a diverse and reliable income stream.
4. The letting pool features 20 apartments within the complex, with potential to include two additional external properties for further income.
5. The business currently generates an annual net income of $163,559, which includes $157,745 from the Locale Apartments complex and $5,814 from external properties.
6. The Caretaking and Letting Agreements have been extended to 2046, ensuring stability and long-term value.
7. The body corporate salary increases by 5% annually, providing predictable growth in revenue.
8. Duties for the caretaker are straightforward and require minimal attention per month.
9. The business presents a fantastic opportunity for an experienced operator or someone new to the management rights industry.
10. The asking price for the business is $899,500 for the business only.
11. The net profit for the business is $163,559, with a remuneration/body corp salary of $109,754.
12. The complex is a permanent type with a total of 46 units, 20 of which are in the letting pool.
13. There are 15 owner-occupied units and 8 outside agent units.
14. The agreement term is 25 years with 21 years remaining.
15. The business is listed by Ras360°, a specialist in management rights, motels, hotels, pubs, and parks.
