Benowa, Queensland

Low Maintenance Permanent Complex!!

$2,150,000

Business Description

Low Maintenance Permanent Complex!!

This low maintenance complex is set on a medium sized acreage.

Situated in the heart of Benowa and in close proximity to excellent Public and Private Schools, Restaurants, Pindara Hospital, well known golf courses and sporting precincts.

On offer – long term agreements, no set working hours, huge opportunity for astute manager to realise increased revenue.

Spacious, comfortable and air-conditioned potential 4-bedroom, 3-bathroom manager’s townhouse over 2 levels, separate laundry, spacious kitchen, good sized lounge area leading out to a large patio. An adjoining ground level yet separate “On Title” reception/office, with access to the secure lock up garage.

To arrange an inspection please call: Gavin

Disclaimer: We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.

Business Summary

Business Snapshot

Price: $2,150,000 Net Profit: $170,000 Remuneration / Body Corp Salary: $128,900

Managers Unit

Value of Managers Apartment: $1,200,000Bedrooms: 4Bathrooms: 3Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 48Total Units in Letting Pool: 16Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 yearsPool: YesTennis Court: Yes

Marketing Agent

Gavin Mattig

0409 60....

Gavern Property - Management Rights

Key Investment Insights

1. Asking price $2,150,000, with reported net profit $170,000 and owner remuneration/body corp salary $128,900, indicating current cashflow metrics.
2. Manager’s apartment valued at $1,200,000, representing a substantial portion of the overall sale value.
3. Manager’s residence is spacious and well appointed, potential 4-bedroom, 3-bathroom townhouse over two levels, separate laundry, large kitchen and patio, plus secure lock-up garage.
4. On-title adjoining reception/office provides onsite administrative space and enhances asset value.
5. Permanent complex on medium acreage, described as low maintenance, reducing ongoing capital and upkeep demands.
6. Complex size 48 units, with 16 units in the letting pool, suggesting around one third of units are income-generating through letting.
7. Accommodation agreement originally 25 years, with 22 years remaining, offering long-term contractual stability.
8. Site amenities include a pool and tennis court, supporting guest appeal and potential revenue premium.
9. Prime Benowa location close to public and private schools, restaurants, Pindara Hospital, golf courses and sporting precincts, enhancing marketability and demand.
10. Sale notes long-term agreements and no set working hours, indicating operational flexibility and lower owner time commitment.
11. Pets allowed in the manager’s unit, potentially aiding retention or attraction of managers and tenants.
12. Vendor highlights opportunity for an astute manager to realise increased revenue, implying upside potential from active management or marketing.

Management Rights Multiplier: 5.59
ROI Estimate: 17.89%