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
Complex Information
Complex Type: n/aTotal Units in Complex: 76Total Units in Letting Pool: 67Agreement Term: 25 yearsAgreement Term Remaining: 23 years
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).
