Cleveland, Queensland
Business Only Management Rights – Cleveland
$650k Business Only
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: $650k Business Only
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. Business only management rights, no unit purchase required, manager’s unit has been decoupled.
2. Accountant-verified net profit $162,169, with Body Corporate salary/remuneration $126,871.
3. Asking price $650,000, representing a 4.0x multiple and an approximate ROI of 25%.
4. Ten year agreements recently topped up, with ten years remaining, providing long-term income security.
5. Complex scale of 75 townhouses, 18 units in the letting pool, plus 10 external properties under management, offering diversified revenue streams.
6. All major operational equipment owned by the Body Corporate, keeping operator overheads minimal.
7. Caretaking workload described as manageable relative to the generous Body Corporate salary, indicating operational efficiency.
8. Fully supportive Body Corporate committee, signalling strong governance and onboarding support for a new manager.
9. Opportunity to add real estate sales income, seven sales in the last 12 months at an average price of $750,000, with potential commission circa $100,000 plus.
10. Prime Cleveland bayside location, with lifestyle appeal, local amenities and easy access to Brisbane, making the asset tightly held and rarely offered.
