Mount Gravatt East, Queensland
Great Permanent Management Rights in Southside of Brisbane
SOLD
Business Description
• Perfect Location
Centrally located in the leafy, southern suburb of Mt Gravatt East. Convenient and handy - only a short distance away from the Mega Carindale Westfield, which has everything as you want and a short walk to public transport, handy to Garden City and Sunnybank Central
• Popular for Renter
Well- presented complex provides the perfect environment to relax in. The turnover of tenants is very low, keeping inspections and paperwork to a minimum
• Healthy BC Relationship
Body Corporate very fantastic and supportive to work with
• 15 Years Left on Agreement and Can-do 5 Years Top Up
Based on accommodation module and Very well run business, all procedures documented
• Great Manager Salary
Manager remuneration $86,000 with annual adjustment of CPI
• "CLEAN" Income Page
No any income included from repairs and maintenance, cleaning … Great income upsides potentials!
• Modern and fantastic 306 m2 Manager Residence
Three beds, two baths and downstairs toilet, one garage
Spacious dining and living area large enough to comfortably suit all your family's needs
kitchen includes a large pantry and stainless steel appliances and the laundry with downstairs toilet The quiet outdoor area is fully decked for a nice outdoor setting and BBQ
Spacious detached manager office
• Perfectly within the catchment of Mansfield State High School
This is a rare opportunity to purchase such a beautiful lifestyle and solid permanent management right!
Be quick! Don't miss the rare management rights in Brisbane Southside!
Business Summary
Business Snapshot
Price: SOLD
Net Profit: $141,452 Body corp salary review: CPI Annually
Managers Unit
Value of Managers Apartment: $520,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitleComplex Information
Complex Type: PermanentTotal Units in Complex: 60Total Units in Letting Pool: 28Owner Occupy Units: 28Outside Agent Units: 2Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 15 Years yearsPool: YesBBQ Area: Yes
Key Investment Insights
Key insights:
1. Prime location in the southern suburb of Mt Gravatt East, close to major shopping centers and public transport.
2. Popular with renters, with low turnover and minimal paperwork.
3. Strong and supportive relationship with the Body Corporate.
4. Long agreement term of 25 years with 15 years remaining, with the option to extend for an additional 5 years.
5. Manager remuneration of $86,000 with annual CPI adjustments.
6. Clean income page with potential for additional income from repairs and maintenance.
7. Modern and spacious 3-bedroom, 2-bathroom manager's residence with a detached office.
8. Within the catchment area of highly sought-after Mansfield State High School.
9. Permanent management rights for a complex of 60 units, with 28 units in the letting pool.
10. Facilities include a pool and BBQ area.
Management Rights Multiplier: 4.81
ROI Estimate: 20.80%
