Condon, Queensland
Exceptional Townsville Permanent Management Rights - Under 2 Multiplier
$771,000
Business Description
Presenting an excellent opportunity to acquire a quality permanent management rights business within a modern, low-rise gated apartment complex, located in one of Townsville’s most desirable residential precincts. With under a 2 multiplier!
The complex comprises 70 lots, with 25 currently in the letting pool and a further 16 managed by external agents, presenting strong upside potential for incoming owners. A solid body corporate salary of $101,364 + GST.
With 23 years remaining on agreements, a very supportive body corporate, and a proven history of top-ups this management rights business offers long term security.
This well-designed three-storey walk-up complex features a central resident hub with an outdoor swimming pool and barbecue area, along with a dedicated manager’s office for your exclusive use.
The two bedroom, two-bathroom apartment features open-plan living, contemporary appliances, air conditioning, a private covered patio, and undercover parking, offering exceptional buying at $469k.
Perfectly positioned, this complex is located close to major arterial roads, public transport options, recreational precinct, sporting facilities, retail hubs, and dining options.
This high-performing permanent complex ticks all the boxes, and with under a 2 multiplier this business is priced to sell!
Key Features:
· Long-term security with 23 years remaining on agreement
· $101,364 + GST Body Corporate salary
· 19.8% ROI on entire investment or 50% ROI on business purchase
· 70 lots | 25 in letting pool with upside to secure 16 external lets into letting pool
· Exceptional priced manager’s unit at $469k
· Efficient three-storey walk-up complex (no lift)
· Secure gated community with pool, BBQ area & office
· Supportive Body Corporate with history of top-ups
· Strong rental demand in a high-growth Townsville location
Contact Rebecca today for further information.
Net Profit: $152,400
Property Code: 121
Business Summary
Business Snapshot
Price: $771,000
Remuneration / Body Corp Salary: $101,364Body corp salary review: CPI Annually
Managers Unit
Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: Exclusive UsePets OK: YesComplex Information
Complex Type: PermanentTotal Units in Complex: 70Total Units in Letting Pool: 25Owner Occupy Units: 28Outside Agent Units: 16Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesBBQ Area: Yes
Key Investment Insights
AI generated. Confirm details with the seller.
1. Business offered at under a two times multiplier, providing an attractively priced entry into permanent management rights.
2. Body corporate salary of $101,364 plus GST, with annual CPI reviews.
3. Long term management agreements, a supportive body corporate and a proven history of agreement extensions.
4. A 70 lot complex with 16 externally managed apartments offers potential to expand the letting pool.
5. Located in a desirable Townsville residential precinct near major roads, public transport, recreation, shops and dining.
6. Modern gated complex with a swimming pool, barbecue area and exclusive use manager’s office.
7. Three storey walk up design eliminates lift infrastructure.
8. Manager’s apartment includes two bedrooms, two bathrooms, air conditioning, a covered patio and undercover parking.
