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 for the management rights business, with reported net profit $90,636.
2. Strong recurring remuneration of $70,948 per year, indexed annually by CPI or 3%, whichever is greater.
3. Manager lot to be valued by a bank panel industry valuer, supporting financing and lender acceptance.
4. Long-term security with 20 years remaining on a 25-year accommodation module agreement.
5. Manager residence is a large, modern two-storey townhouse with three bedrooms, expansive living/dining and family spaces, open-plan kitchen, and large rear patio and entertaining backyard.
6. Manager unit currently tenanted at $620 per week, providing immediate rental income.
7. On-title office is well presented and requires no office hours, reducing on-site time commitments.
8. Small letting pool and very low tenant turnover, implying reduced inspections, paperwork and management workload.
9. Body corporate described as very supportive, indicating cooperative governance and easier operations.
10. Prime, quiet Brisbane Southside location in leafy Mt Gravatt East, about 10km to Brisbane CBD.
11. Exceptional local amenity access, within walking distance to Mount Gravatt Plaza and Homemaker Centre, with easy access to Westfield Garden City, Westfield Carindale, public transport, schools and parks.
