Eight Mile Plains, Queensland
Permanent GEM in Eight Mile Plains - Brisbane Southside Central
SOLD
Business Description
This is an outstanding opportunity to buy management rights in Eight Mile Plains on the ever-popular Brisbane Southside. Located close to major arterial roads, trains and bus transport providing easy access to Brisbane and the Gold Coast.
- Asking $566,000 on MR Business with a Net Profit of $127,019
- Plus Manager Lot on the latest Valuation by Bank Panel Industry Valuer
- Centrally located in the Leafy suburb of Eight Mile Plains, Brisbane Southside
- Well- presented complex provides the perfect environment to relax in
- Very well-run business, all procedures documented
- Body Corporate very fantastic and supportive to work with
- Long agreement 23 years left on a 25 years accommodation module
- Great manager remuneration $88,598 with annual adjustment of CPI every July
- The turnover of tenants is very low, keeping inspections and paperwork to a minimum
- Modern and fantastic manager residence
Large low-set villa, a big living/dining area, spacious family room, modern and open plan kitchen, three bedrooms and a large rear patio and entertaining backyard area
- Large on-title office, no office hour
- Minutes walking to Warrigal Road State School, Runcorn Plaza and Woolworths Eight Mile Plains
- Current manager family has been there for more than 10 years, a good handover will be made to a new manager
- Ideal for a family or semi-retired couple looking for a solid income and great lifestyle
If you want to buy a solid management right business and great lifestyle, it ticks all your boxes, please book your inspection immediately with NEXT team, Exclusive Agency.
Business Summary
Key Investment Insights
1. Asking price $566,000 for the management rights business, reported net profit $127,019.
2. Sale includes Manager Lot valued on latest Bank Panel Industry Valuer report.
3. Long-term accommodation module agreement, 23 years remaining from 25 years.
4. Strong manager remuneration $88,598 with annual CPI adjustment each July.
5. Low tenant turnover, reducing inspections and administration workload.
6. Well-run operation with all procedures documented, facilitating transition.
7. Current manager family in place for more than 10 years, vendor will provide a good handover.
8. Supportive, described as fantastic, Body Corporate which aids operations.
9. Modern, spacious manager residence: large low-set villa, three bedrooms, big living/dining and family rooms, open-plan kitchen, large rear patio and entertaining backyard.
10. Large on-title office included, no office-hours restriction.
11. Convenient location close to major arterial roads, trains and buses, providing easy access to Brisbane and the Gold Coast.
12. Local amenity and lifestyle appeal, situated in leafy Eight Mile Plains, minutes walking to Warrigal Road State School, Runcorn Plaza and Woolworths Eight Mile Plains, suitable for a family or semi-retired couple.
