Bulimba, Queensland

Make an offer PRESITGE, LUXURY, ELEGANCE BY THE BRISBANE RIVER

$1,999,000

Business Description

Unlock the potential of this prime Management Rights business nestled in the heart of Bulimba, Queensland. The current owners, heavily committed elsewhere, present a golden opportunity for an astute investor. This HOT HOT property – a must-see complex that combines convenience, luxury, and exceptional value for money.

Key Features:

Strategic Location: Situated in the unique river-side locality of Bulimba, this complex is just a stone's throw away from the city. Experience the best of both worlds – close proximity to urban amenities while immersed in the beauty of this riverside gem.

Investment Potential: Boasting immense potential, this easily run complex is not only a sound investment but also offers a superb lifestyle. The large one-bedroom plus study apartment, recently renovated, provides comfortable living for the new Manager.

Long-Term Agreement: The current management agreement has an impressive 21 years remaining, providing stability and security for the new owner.

Flexibility in Accommodation: Explore the option to rent a larger apartment if desired. The manager's residence can be leased, allowing you to choose between a 2 or 3-bedroom unit. Flexibility is key, and the difference in cost is negligible.

Financial Snapshot:

Income: $272,954
Unit Value: $580,000
Business Value: $1,419,000
Total: $1,999,000
This complex has been reduced by nearly $150,000 as the managers are totally committed else where. Please understand there will be no further reductions. Please come back to me with asking price.
Please contact Robert Collins Exclusive Agent on ---------- or ----------

Business Summary

Business Snapshot

Price: $1,999,000 Net Profit: $272,954 Remuneration / Body Corp Salary: $156,252

Managers Unit

Value of Managers Apartment: $580,000Bedrooms: 1Bathrooms: 1Car Spaces: 1

Complex Information

Complex Type: PermanentTotal Units in Complex: 93Total Units in Letting Pool: 35Owner Occupy Units: 53Outside Agent Units: 4Lockup Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 21 years
Marketing Agent
Robert Collins
Robert Collins

RAAS Property Group

RAAS Property Group

Key Investment Insights

1. Strategic location in the desirable riverside suburb of Bulimba, offering a balance of urban amenities and natural beauty.
2. Potential for strong investment returns and a desirable lifestyle.
3. Long-term management agreement with 21 years remaining, providing stability and security for the new owner.
4. Flexibility in accommodation options, including the ability to rent a larger apartment if desired.
5. Reduced price of nearly $150,000, presenting a great opportunity for an astute investor.
6. Net profit of $272,954 and remuneration/Body Corp salary of $156,252.
7. Manager's unit valued at $580,000, with 1 bedroom, 1 bathroom, and 1 car space.
8. Permanent complex with 93 units, 35 of which are in the letting pool.
9. Majority of units are owner-occupied, reducing competition for management rights.
10. Agreement term of 25 years, with 21 years remaining.

Management Rights Multiplier: 5.20
ROI Estimate: 19.24%

Listing location
Gallery

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