Ellen Grove, Queensland

Not Required to Live Onsite

SOLD

Business Description

• A 7 years young modern quiet complex
• Desirable permanent letting management rights for managers
• Not required to live onsite
• No office hours & No facilities
• Minimum lawn area to maintain
• Most of the owners are interstate investors
• The current net profit over $243K including body corporate guaranteed salary over $100K
• 23 years remain on Management Rights agreements

Business Summary

Business Snapshot

Price: SOLD Net Profit: $243,003 Remuneration / Body Corp Salary: $100,736Body corp salary review: CPI Annually

Managers Unit

Complex Information

Complex Type: n/aTotal Units in Complex: 76Total Units in Letting Pool: 67Agreement Term: 25 yearsAgreement Term Remaining: 23 years
Marketing Agent
Paul Wang
Paul Wang

CeCe Chen
CeCe Chen

Onsite Management Rights

Onsite Management Rights

Key Investment Insights

1. Modern, quiet complex that is only 7 years old.
2. Desirable permanent letting management rights for managers.
3. No requirement to live onsite, providing flexibility for managers.
4. No office hours or facilities to maintain.
5. Minimal lawn area to maintain.
6. Majority of owners are interstate investors, reducing potential conflicts with managers.
7. Strong net profit of over $243,000, including a guaranteed body corporate salary of over $100,000.
8. Long remaining term of 23 years on management rights agreements.
9. Complex is not subject to a complex type.
10. Large total number of units in complex (76) and high percentage in letting pool (67 units).
Listing location
Gallery

This Business is sold

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