Bowen Hills, Queensland
LARGE PERMANENT MANAGEMENT RIGHTS, BRISBANE $635K+, 6X MULTIPLIER, 24 YEAR TERM | Resort Brokers ID : MR008685
$3,825,000
Business Description
The perfect opportunity for a partnership / syndicate, currently operated fully under management. This modern mid-rise complex is efficiently run and presents to the market as a perfectly established management rights business offering a sizeable net profit and a high level of security.
The Caretaking and Letting agreements were recently topped up to the full 25-year tenure, and the business is underpinned by a solid BC salary of c. $335,000, representing more than 50% of annual net profit. Considerable additional income opportunity through onsite unit sales.
- A high-yielding asset attractive to syndicators and partnerships
- Strong BC / committee relationship with full 25-year tenure to agreements
- Features a well-presented, clean Profit & Loss statement with sufficient wage allocation
- Permanent complex with quality facilities including pool and gym
- Comprises a total of 198 apartments over two towers with 100 in the on-site letting pool
- Good scope to grow unit sale business, given scale of complex and location of office.
- Located in Bowen Hills, a sought-after inner-city fringe suburb, close to all amenity
- Potential for significant growth via outside agent conversion back into the letting pool
- 2 bed, 2 bath managers’ residence - $595,000
- Currently operated under management with established staff.
- Reception/office under OA is located between the two towers and 42sqm storage in basement
- All inspections by appointment only
Date updated: 22 Apr 2025 23:00:02
Business Summary
Business Snapshot
Price: $3,825,000
Net Profit: $638,362 Remuneration / Body Corp Salary: $334,668
Complex Information
Complex Type: PermanentTotal Units in Complex: 195Total Units in Letting Pool: 100Owner Occupy Units: 50Outside Agent Units: 44Agreement Term Remaining: 25 years