Biggera Waters, Queensland

Well Established, Exceptional Permanent MR with High Net Profit & High BC Salary

$2,828,954

Business Description

• 129 apartments and 29 townhouses in an immaculately presented complex with 56 in the letting pool plus 3 lettings outside
• Annual net profit over $403K inclusive of a generous $218.255 BC remuneration
• A huge potential for the pro-active manager to increase profitability with 15 lots currently in the hands of outside agents that could be brought into your letting pool.
• Long term 25 years agreement with 21 years remaining.
• No set office hours; No requirement to live onsite.
• Perfectly located, only a short stroll to the Broadwater and essential amenities, short drive to Harbour Town, Theme Parks and Australia Fair

Business Summary

Business Snapshot

Price: $2,828,954 Net Profit: $403,519 Remuneration / Body Corp Salary: $218,355Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $690,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 158Total Units in Letting Pool: 59Owner Occupy Units: 87Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesGym: YesBBQ Area: Yes
Marketing Agent
CeCe Chen
CeCe Chen

Leo Liu
Leo Liu

Onsite Management Rights

Onsite Management Rights

Key Investment Insights

1. The business for sale is a well-established and highly profitable permanent management rights with a high net profit and body corporate salary.
2. The complex consists of 129 apartments and 29 townhouses, with 56 in the letting pool and potential for growth with 15 lots currently managed by outside agents.
3. The annual net profit is over $403,000, which includes a generous body corporate remuneration of $218,255.
4. The agreement with the complex is long-term, with 21 years remaining out of a total of 25 years.
5. There are no set office hours and no requirement to live onsite, providing flexibility for the manager.
6. The location of the complex is ideal, with close proximity to the Broadwater, essential amenities, and popular attractions such as Harbour Town and the Theme Parks.
7. The manager's unit is valued at $690,000 and includes 3 bedrooms, 2 bathrooms, and 2 car spaces.
8. The complex is a permanent management type with a total of 158 units, 59 of which are in the letting pool.
9. The agreement module is accommodation and includes facilities such as a pool, spa, gym, and BBQ area.
10. The agreement allows for annual CPI increases, providing potential for future growth.

Management Rights Multiplier: 5.30
ROI Estimate: 18.87%

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