Key Investment Insights
AI generated. Confirm details with the seller.
1. Rare business-only management rights offering, first time on market in 15 years, no manager’s unit to purchase and no real estate component.
2. Vendor has committed a top up of $234,000 net and to extend the agreement by a further five years, creating approximately 24 years of agreement term for the incoming manager.
3. Verified net profit of approximately $116,800, with additional remuneration/body corporate salary of $76,000.
4. Business-only price $672,000, presenting a clear, single-line acquisition cost.
5. Low-maintenance operational model, current manager attends three times per week for about two hours per visit, no set office hours and structured caretaking duties.
6. Strong local demand drivers, located in Carindale close to Westfield Carindale, schools, parks, public transport and major arterial connections, appealing to tenants and owner-occupiers.
7. Supportive body corporate committee, noted as a major highlight and favourable for incoming management.
8. Complex size and mix: 37 total units, 12 units in the letting pool, 20 owner-occupied units, and 5 units managed by outside agents.
9. Agreement details listed as 25 years with 19 years remaining, enhanced by the vendor top-up term to provide long-dated contractual security.
10. Listed by Ras360, a specialist agency in motels, hotels, pubs, parks and management rights, providing sector-specific marketing and sale expertise.
