Carindale, Queensland
First Time Offered in 15 Years Topped Up With $234k Net
Business Only $672k
Business Description
Ras360 is pleased to present a rare business-only management rights opportunity in the highly sought-after suburb of Carindale, with no manager’s unit to purchase and no real estate component.
Positioned in one of Brisbane’s most convenient eastern suburbs, the complex benefits from strong local rental demand, close proximity to Westfield Carindale, schools, parks, public transport and major arterial connections. This is a location that continues to appeal to both tenants and owner-occupiers.
The business is simple and easy to manage, with no set office hours and structured caretaking duties. Current manager attends three times per week for approximately two hours per visit, making this an attractive low-maintenance operation.
A major highlight is the vendor’s commitment to top up a further 5 years, providing approximately 24 years of agreement term for the incoming manager. Combined with a very supportive committee, verified net profit of approximately $116,800 and a business-only price of $672,000, this is a clean, secure and highly appealing opportunity in a premium Brisbane location.
**Ras360 – Specialists in Motels | Hotels | Pubs | Parks | Management Rights**
Business Summary
Business Snapshot
Price: Business Only $672k
Net Profit: $116,800 Remuneration / Body Corp Salary: $76,000
Complex Information
Complex Type: PermanentTotal Units in Complex: 37Total Units in Letting Pool: 12Owner Occupy Units: 20Outside Agent Units: 5Agreement Term: 25 yearsAgreement Term Remaining: 19 years
Key Investment Insights
1. Rare business-only management rights offering in Carindale, first time offered in 15 years, with no manager’s unit to buy and no real estate component.
2. Vendor to top up $234,000 net, enhancing deal security and cash position upon settlement.
3. Vendor commitment to extend the agreement by a further five years, effectively increasing term to approximately 24 years for the incoming manager.
4. Listed business-only price $672,000, with verified net profit approximately $116,800, indicating an EBITDA-like yield for buyers.
5. Remuneration/body corporate salary reported at $76,000, providing predictable cashflow for manager duties.
6. Very low-maintenance operational model, caretaker duties structured, no set office hours, current manager attends three times per week for about two hours per visit.
7. Supportive body corporate committee, reducing governance friction and operational risk.
8. Prime eastern Brisbane location, close to Westfield Carindale, schools, parks, public transport and major arterial roads, supporting both tenant and owner-occupier demand.
9. Complex scale: 37 total units, with 12 in the letting pool, 20 owner-occupied units and 5 managed by outside agents, indicating a stable owner-occupier base and room to grow letting income.
10. Agreement term details on file show original term 25 years with 19 years remaining, consistent with vendor top-up extension providing long-term contractual security.
