Mount Gravatt, Queensland
Solid Income and Easy Permanent MR in Brisbane Southside
SOLD
Business Description
This is an outstanding opportunity to buy management rights in Mt Gravatt East on the ever-popular Brisbane Southside.
Nestled in a prime quiet location, only walking distance to Mount Gravatt Plaza and Mount Gravatt Homemaker Centre, easy access to Westfield Garden City and Westfield Carindale, public transport, close to schools, parks & much much more; Only a short commute to Brisbane CBD, about 10km.
- Asking $389,800 on MR Business with a Net Profit of $90,636
- Manager Lot to be on the latest Valuation by Bank Panel Industry Valuer
- Centrally located in the Leafy suburb of Mt Gravatt East, Brisbane Southside
- Well- presented complex provides the perfect environment to relax in
- Very well-run business, all procedures documented
- Body Corporate very fantastic and supportive to work with
- Long agreement 20 years left on a 25 years accommodation module
- Great remuneration $70,948 with annual adjustment of CPI or 3%, which is greater
- Small letting pool to give you an undisturbed lifestyle
- The turnover of tenants is very low, keeping inspections and paperwork to a minimum
- Modern and fantastic manager residence
Large two-storey townhouse, a big living/dining area, spacious family room, modern and open plan kitchen, three bedrooms and a large rear patio and entertaining backyard area
- Well presented on-title office, no office hour
- Manager Unit has been tenanted with a weekly rent of $620
- Ideal for a family or semi-retired couple looking for a solid income and great lifestyle
If you want to buy a solid management right business and great lifestyle, it ticks all your boxes, please book your inspection immediately with NEXT team, Exclusive Agency.
Business Summary
Key Investment Insights
1. Asking price $389,800, Net Profit $90,636, indicating a clear profitability metric for valuation comparisons.
2. Manager remuneration $70,948 with annual CPI or 3% escalation, providing predictable and growing cashflow.
3. Long-term contractual security, 20 years remaining on a 25-year accommodation module.
4. Manager lot to be set at latest valuation by a bank panel industry valuer, supporting lender acceptance and resale value.
5. Prime Mt Gravatt East location, Brisbane Southside, about 10 km to CBD, with walking access to Mount Gravatt Plaza and Homemaker Centre.
6. Easy access to Westfield Garden City and Westfield Carindale, public transport, schools and parks, enhancing tenant appeal.
7. Small letting pool and very low tenant turnover, reducing inspections, administrative workload and letting costs.
8. Well-run business with documented procedures, simplifying transition for new owners and lowering operational risk.
9. Supportive and cooperative body corporate, facilitating smoother management and dispute resolution.
10. Modern, large two-storey manager residence on-site, three bedrooms, expansive living areas, large patio and backyard, suited to a family or semi-retired couple.
11. On-title office with no set office hours, offering flexibility and clear ownership of the management premises.
12. Manager unit currently tenanted at $620 per week, providing immediate rental income or alternative cashflow option.
