Kangaroo Point, Queensland
Kangaroo Point - Permanent - Sold & Settled - ID 9004
SOLD
Business Description
Brisbane Management Rights
Minimal Duties - Solid Business
- Inner city genuine business only opportunity
- No real estate to purchase
- No requirement to live onsite
- Minimal caretaking duties with no pool or BBQ area
- Solid 10 year standard module agreement in place
- Co-operative body corporate committee and strong sinking fund
- Would suit first time manager or a perfect add on to your existing portfolio
Situated high and dry in beautiful Kangaroo Point. With minimal caretaking duties and a small letting pool, this is the perfect starter business or portfolio add-on. With the current manager's motivated to move on, this is your opportunity to secure a solid, profitable business with indexed income growth built-in. Don't miss out!!
Net Profit: $48,621
Asking Price: $233,000
For further information or to arrange an inspection of this Brisbane Management Rights opportunity contact:
Management Rights Broker
Peter Ross
Property Code: 457
Business Summary
Business Snapshot
Price: SOLD
Net Profit: $48,621 Remuneration / Body Corp Salary: $40,600Body corp salary review: CPI Annually
Managers Unit
No real estate to purchase with this business
Complex Information
Complex Type: PermanentTotal Units in Complex: 22Total Units in Letting Pool: 5Owner Occupy Units: 15Outside Agent Units: 2Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 9 years
Key Investment Insights
Key Insights:
- Inner city location with no real estate to purchase
- No requirement to live onsite
- Minimal caretaking duties with no pool or BBQ area
- Solid 10 year standard module agreement in place
- Co-operative body corporate committee and strong sinking fund
- Suitable for first time manager or as an add-on to an existing portfolio
- Motivated current managers looking to move on
- Solid and profitable business with indexed income growth
- Permanent complex with 22 units, 5 in the letting pool and 15 owner occupied
- Outside agent units make up 2 of the total units in the complex
- Agreement term of 10 years with 9 years remaining
- Net profit of $48,621 and remuneration/body corp salary of $40,600
- Located in the high and dry area of Kangaroo Point.
