81 / 34 Bundock Street, Belgian Gardens, Queensland
Waterview Terraces – Lifestyle, Profit & Fun!
$675,000
Business Description
This is more than a management rights business – it’s a profitable lifestyle investment with added real growth potential. Live and work in a beautiful tropical setting while enjoying a rewarding long-term management role.
Wake up to stunning views of Magnetic Island at Waterview Terraces, an 80-apartment complex offering a rare management rights opportunity. Live, work, and enjoy in a beautifully maintained tropical environment with long-term residents.
Your live-in leased apartment is a spacious 3-bedroom, 2-bathroom home with a massive balcony within the secure, gated section with own undercover carpark and personal lockup.
Key Points:
· A profitable, guaranteed management income PLUS:
· Opportunities to profit even further through apartment sales and steady rental management streams, owners’ project managements (optional), and more
· Supportive Body Corporate committee
· Well documented procedures & maintenance timetable
· No set office hours and no demanding parcel collection protocol
· No need to buy a manager’s residence (currently leased)
· Requirement to live onsite
· Management Rights Agreement til 2045 with further 5 year option available
· 37 rented, with 14 in the Letting Pool and huge potential to convert the balance to you
· No of apartments = 80
The complex features:
· Waterfall inground pool surrounded by tropical gardens
· Synthetic grass tennis court
· Dedicated managers’ office and workshop
Location:
· Easy walks to The Strand and Rowes Bay
· Close to cafés, restaurants, and Townsville’s city life
Financial:
· Adjusted Net profit: $180,000
· Body Corp Salary excl GST $158,960
· This also excludes SALES income generated for 12 mths ending 30/9/25 $53k
· Asking price $675,000
Business Summary
Business Snapshot
Price: $675,000
Net Profit: $180,000
Complex Information
Complex Type: PermanentTotal Units in Complex: 80
Key Investment Insights
1. Profitable, guaranteed management income with adjusted net profit $180,000 per year.
2. Body Corporate salary excl GST $158,960, plus $53,000 in sales income for the 12 months ending 30/9/25.
3. Asking price $675,000, implying a strong cashflow-backed valuation.
4. Long-term Management Rights Agreement to 2045 with a further five-year option, providing tenure security.
5. Live-in leased 3-bedroom, 2-bathroom manager’s residence with large balcony, undercover carpark and personal lockup, no purchase required.
6. Onsite residency required, but current lease removes immediate capital outlay for a manager’s home.
7. 80-apartment complex with 37 rented and 14 in the letting pool, significant upside to convert additional units to letting or sales.
8. Multiple revenue expansion paths, including apartment sales, steady rental management streams and optional owners’ project managements.
9. Supportive Body Corporate committee, well documented procedures and a maintenance timetable, indicating smooth operational handover.
10. Resort-style facilities including a waterfall inground pool with tropical gardens, synthetic grass tennis court, and a dedicated managers’ office and workshop.
11. Prime coastal location with Magnetic Island views, easy walks to The Strand and Rowes Bay, and proximity to cafés, restaurants and Townsville city amenities.
12. Low operational friction with no set office hours and no demanding parcel collection protocol.
