Permanent Management Rights Conveniently close to Chermside!
Offers over $900K
This townhouse complex in Geebung is a rare commodity so close to Chermside.
The complex consists of 3 Bedroom townhomes and targets the Student and Hospital worker population and is very popular with renters.
Geebung is approximately a 5 minute drive from the Chermside shopping precinct, with popular cafe areas, shops etc and close to Bus stops, Bus Hub, Supermarkets, University and hospitals!
In short; established, city rim permanent complexes are as rare as hen's teeth in Brisbane.
The selling points do not end there.
The Body Corporate salary of $69,000 is very generous especially when you consider there is only about 20 hours of caretaking per week.
The office is located in the managers unit and is on title.
Due to the fact that the current owners are looking to shift for their children's schooling they have not explored additional income streams much as another couple might.
An examination of the P&L will reveal that no loading has happened. In other words, almost all income comes from the core stream of Body Corporate salary and letting commissions. There is good scope for new management to build the bottom line by carrying out maintenance themselves and offering extra gardening etc.
The current managers have been there for 4 years and are given a good amount of autonomy to do the job as they see fit.
The caretaking and letting agreements are in the process of being renewed and fresh 20 years contracts will be available to the new manager.
We simply cannot think of anything negative to say about this property.
An absolute rare gem that will sell quickly!!
Price: Offers over $900K
Remuneration / Body Corp Salary: $69,000
Managers UnitOffice: On Title
Complex InformationComplex Type: PermanentTotal Units in Complex: 0