Harristown, Queensland

Perfect Business Only in the Heart of Toowoomba Due to Complete Aug2024

$476,255

Business Description

RAAS introduces Montecute, a business only in Toowoomba, QLD.
25-year Caretaking and Letting agreement, with no set office hours and no real estate to purchase.
The Complex has started construction and is 100% sold out with a projected letting pool of thirty-three units based on current investor sales.
Montecute will attract strong tenant demand due to the area's limited supply of new townhouses.
This stunning complex occupies a prominent position on Drayton Road, Harristown, just moments away from all the essential amenities of this vibrant country suburb with proximity to schools, cafes, and parks.
Luxe open-plan layouts provide expansive living with an entertainment area, sophisticated kitchens with premium fittings, stylish bedrooms, and elegant bathrooms. On-site facilities include a BBQ facility and open spaces. Montecute offers its residents a beautiful life balance where city convenience meets country tranquillity. Montecute is a fantastic, permanent MLR business in a hot spot location.
An excellent choice for an established operator to add to their growing property business portfolio.

Business Summary

Business Snapshot

Price: $476,255 Net Profit: $105,835 Remuneration / Body Corp Salary: $39,600

Managers Unit

Complex Information

Complex Type: PermanentTotal Units in Complex: 33Total Units in Letting Pool: 30Outside Agent Units: 3Agreement Term: 25 yearsAgreement Term Remaining: 25 years
Marketing Agent
Paul Mueller
Paul Mueller

Key Investment Insights

1. The business, Montecute, is located in Toowoomba, QLD and is a business only sale.
2. The complex has a 25-year Caretaking and Letting agreement, with no set office hours and no real estate to purchase.
3. The complex is currently under construction and is already 100% sold out.
4. The projected letting pool for the complex is thirty-three units based on current investor sales.
5. The area has limited supply of new townhouses, making Montecute a desirable option for tenants.
6. The complex is located on Drayton Road in Harristown, with close proximity to essential amenities such as schools, cafes, and parks.
7. Montecute offers luxurious open-plan layouts with entertainment areas, premium kitchens, stylish bedrooms, and elegant bathrooms.
8. On-site facilities include a BBQ area and open spaces.
9. Montecute provides a balance of city convenience and country tranquillity for its residents.
10. The business is a permanent MLR business, making it a desirable option for established operators looking to expand their property business portfolio.
11. The asking price for the business is $476,255, with a net profit of $105,835 and a remuneration/body corp salary of $39,600.
12. The manager's unit is not included in the sale.
13. The complex is a permanent type with a total of 33 units, 30 of which are in the letting pool.
14. There are 3 outside agent units.
15. The agreement term is 25 years, with 25 years remaining.
Listing location

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