Miami, Queensland
Straight Caretaking Business with Freehold Office and Huge Growth Potential. $950K
SOLD
Business Description
This is a rare opportunity to secure a caretaking-only management rights business in a highly desirable coastal location, just moments from the beach and surrounded by cafés and local amenity. With 22 years remaining on the agreements and a supportive Body Corporate committee, this business is set up for ease, lifestyle, and future upside.
The net income is approximately $142,000 per annum, derived solely from the Body Corporate salary. There is no letting component, no requirement to reside onsite, and no office hours to maintain. All caretaking duties are handled by a single person in roughly 15 hours per week, making it a perfect business for first-time operators, semi-retirees, or those seeking a simple bolt-on.
Included in the sale is a freehold 17m² office, valued at approximately $80,000, currently leased under market rate of about $1,300 per month. The tenant is happy to stay or vacate, giving buyers the option of passive income or an operational base.
The complex consists of 76 residential units with a single facility—a rooftop pool. The existing manager enjoys a strong relationship with the committee, adding further appeal and stability to the operation. Additional, informal income is received for bin duties, which could be formalised for future growth.
With its light workload, stable income, and excellent upside through potential letting, this opportunity is ideally positioned for lifestyle buyers or those looking to expand their portfolio with minimal input and maximum flexibility.
For further information or to arrange an inspection, contact Syd Douglas today.
Ras360 – Management Rights | Motels | Hotels | Pubs | Parks
Business Summary
Complex Information
Complex Type: PermanentTotal Units in Complex: 76Owner Occupy Units: 50Outside Agent Units: 26Agreement Term: 25 yearsAgreement Term Remaining: 22 years
Key Investment Insights
1. Asking price $950,000 for a caretaking-only management rights business with freehold office included.
2. Net income approximately $142,000 per annum, derived solely from the Body Corporate salary.
3. No letting component, no requirement to reside onsite, and no office hours to maintain, simplifying operations.
4. All caretaking duties currently undertaken by one person in about 15 hours per week, indicating very low labour input.
5. Freehold 17 m² office included, valued at approximately $80,000, currently leased at about $1,300 per month under market rate.
6. Tenant of the office is willing to stay or vacate, offering either passive rental income or an operational base.
7. Long agreement security, 25 year term with 22 years remaining on the agreements.
8. Complex size 76 residential units, rooftop pool is the single shared facility.
9. Owner occupy units 50, outside agent units 26, suggesting a stable owner-occupier base and limited external letting.
10. Strong existing relationship with the Body Corporate committee, enhancing operational stability.
11. Additional informal income from bin duties exists, and could be formalised to increase revenue.
12. Highly desirable coastal location, moments from the beach and surrounded by cafés and local amenity, supporting lifestyle appeal and potential asset value upside.
