Cleveland, Queensland
Business Only Management Rights in Cleveland
Under Contract / Offer
Business Description
This is a rare chance to secure the business-only management rights to Island Park Gardens, a well-established townhouse community in Cleveland. With 75 townhouses in the complex, 18 in the letting pool, and a further 10 external properties under management, this business offers both scale and diversity of income.
⚙️ The streamlined operation is highly efficient, with the caretaking workload well matched to the generous Body Corporate salary. The numbers tell the story:
💰 Net Profit: $162,000+ (accountant verified)
💵 Asking Price: $650,000 (4.0x multiple)
📈 ROI: approx. 25%
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current owner does not sell
ADD REAL ESTATE SALES
7 Sales in last 12 months
Average Price $750,000
Potential Commission $100k plus
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📝 The agreements have just been topped up to 10 years, and with the manager’s unit now decoupled, this is a pure business-only opportunity. The move was strongly supported by the Body Corporate committee – ensuring long-term stability and alignment with the incoming manager.
With all major operational equipment owned by the Body Corporate, overheads are kept to a minimum. This makes Island Park Gardens an excellent option for either an experienced operator seeking a low-maintenance business or a first-time buyer looking for security and strong returns.
🌊 Cleveland itself is a thriving bayside location, prized for its lifestyle, amenities, and easy access to Brisbane. Opportunities of this calibre in the Redlands are tightly held and rarely offered to market.
🔑 Key Highlights
🏢 Business only – no unit purchase required
⏳ Recently topped up to 10 years
🤝 Fully supportive committee
💼 Generous Body Corporate salary with manageable workload
💰 Nett Profit: $162k
💵 Asking Price: $650k (4.0x multiple)
Island Park Gardens represents an outstanding blend of lifestyle and income. With long agreements, minimal overheads, and excellent returns, this is a standout business in today’s market.
** Ras360 Property Solutions – Specialists in Management Rights | Motels | Hotels | Pubs | Parks **
*The accountant-prepared Profit & Loss Statement shows a net profit of $162,169 for the business, including income from external letting income. The net profit for the complex has been priced at a 4.25x multiplier, and the external letting income has been priced separately at a 2.5x multiplier. This gives a total business price equal to a blended multiple of 4.0x net profit. All offers should be submitted on the basis of this calculation, with the understanding that the external letting income has already been taken into account when setting the listing price.
Business Summary
Business Snapshot
Price: Under Contract / Offer
Net Profit: $162,169 Remuneration / Body Corp Salary: $126,871
Complex Information
Complex Type: PermanentTotal Units in Complex: 75Total Units in Letting Pool: 18Owner Occupy Units: 57Agreement Term: 10 yearsAgreement Term Remaining: 10 years
Key Investment Insights
1. Accountant-verified net profit $162,169, with external letting income included.
2. Asking price $650,000, equating to a blended 4.0x multiple on net profit.
3. Approximate ROI reported at 25%.
4. Business-only sale, manager’s unit decoupled, so no property purchase required.
5. Agreements recently topped up to 10 years, with a full 10 years remaining.
6. Generous Body Corporate salary $126,871, workload described as manageable and well matched to remuneration.
7. Complex scale: 75 townhouses, 18 in the letting pool, plus 10 external properties under management, providing income diversity.
8. All major operational equipment owned by the Body Corporate, keeping owner overheads minimal.
9. Fully supportive Body Corporate committee, indicating governance stability and alignment for incoming manager.
10. Cleveland bayside location with strong lifestyle appeal and easy access to Brisbane, market described as tightly held in the Redlands.
11. External letting income priced separately in the valuation, contributing to the blended multiple calculation.
12. Potential supplementary income from real estate sales, seven sales in the past 12 months at an average $750,000, estimated potential commission of $100,000 plus.
