Belgian Gardens, Queensland
Permanent Business-Only Management Rights - 1P5180MR
Management Rights $660,000
EXCLUSIVE TO CRE BROKERS. Waterview Terraces is a well-recognised complex in the heart of Townsville and presents the buyer with a secure income from the Body Corporate while providing opportunity to grow the rental pool.
There is no residence to be purchased with the Management Rights. The current manager rents a comfortable three bedroom, two bathroom unit with secure under cover parking with panoramic views from the balcony.
TOTAL NUMBER OF UNITS : 80
UNITS IN LETTING POOL : 26
NET PROFIT : $152,198
REAL ESTATE PRICE : NA
BUSINESS PRICE : $660,000
TOTAL ASKING PRICE : $660,000
Price: Management Rights $660,000
Net Profit: $152,198 Remuneration / Body Corp Salary: $123,109Body corp salary review: CPI Annually
There is no residence to be bought with the Management Rights.
Complex InformationComplex Type: PermanentTotal Units in Complex: 80Total Units in Letting Pool: 26Permanent Units: 26Owner Occupy Units: 31Outside Agent Units: 23Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesTennis Court: Yes
Other Features / Notes
A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Cairns & North