Mountain Creek, Queensland

PERFECT PERMANENT MANAGEMENT RIGHT WITHOUT PROPERTY TO BUY

$2,500,000

Property Description

RARE OPPURTUNITY IN PRIME LOCATION. HIGHLY EFFECTIVE MANAGEMENT RIGHTS.

Total Price $2,500,000

PROPERTY DESCRIPTION
No property to buy and no requirement to live on site.
Owners retire. Perfect business opportunity. Once in a lifetime, permanent management right opportunity, all townhouses. Very effective business with an unparalleled high output to input ratio. This all in the prime location of the Sunshine coast.
What do we love about this?
-No property to buy.
-No living on site.
-No specified office hours
-No pool or barbecue area
-No rubbish bins to put out
-All 2 and 3 bedroom townhouses on 1 and two levels only. No multi-level units with rails and lifts to maintain.
-High demand for rentals means very low vacancy rates
-Reasonable high percentage income from Body corporate salary
-The business can be managed by two people and there is enough income to outsource selective task.

This is a solid business, that is not much affected by Covid or seasons.
It consists of 2 management rights complexes at two locations. The first townhouse complex (with 90 townhouses) is in Mountain Creek and the second (with 50 townhouses) are in Buderim, close the Sunshine Coast University. They are 8 minutes’ easy drive from each other. (There is no traffic built-up between them).

FINANCIAL OVERVIEW
Total Purchase Price: 2,500,000. No real estate to buy
Net Income: $ 420,000 (actual). This is the combined total income achieved by the business after expenses, before tax. [Note that the latest figures for 2021 are with the accountant to be finalised]
Contracts are Gallery Vie compliant to suit the banks

CARETAKING
Remuneration: $ 188,983 (From the body corporate caretaker salary) which is part of Net Income above.
Initial Agreement Term: 25 Years
Agreement Remaining: 24 years at Mountain creek complex and 20 years at Buderim complex
Office Hours: None specified
Duties: Task are simple with all properties being townhouses. There are no steps, no rials, no lifts, no bins to be moved on certain days to different locations, no pools and no barbecues. The basic work includes leave blowing, keeping of gardens and trees, weeding, monitoring of visitors parking, arrangement and monitoring of contractors, handyman jobs, cleaning, mulching, etc.

LETTING BUSINESS (Across the two complexes)
Total number of townhouses: 140
Letting Pool: 90
Owner Occupiers: Approx. 30
Lock Ups: 0
Outside Agents: Approx. 20

REAL ESTATE COMPONENT
Manager's Unit: None included.
The complex Mountain creek has two sheds for your exclusive use

Property Summary

Business Snapshot

Price: $2,500,000 Net Profit: $420,000 Remuneration / Body Corp Salary: $188,983

Managers Unit

No Managers Unit

Complex Information

Complex Type: PermanentTotal Units in Complex: 140Total Units in Letting Pool: 90Permanent Units: 90Owner Occupy Units: 30Outside Agent Units: 20Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 years
Marketing Agent
Christiana Botha
Christiana Botha

LH Property Management

LH Property Management

Listing location
Gallery

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