Mudgeeraba, Queensland

ROCK SOLID BUSINESS

SOLD

Business Description

Following a happy and prosperous 14 years in this business, it is now timely for the current very satisfied managers to retire.

This low maintenance townhouse complex comprises exceptional convenience with access to excellent schooling and Robina Town Centre, the Gold Coast’s new “CBD”, just up the road.

Only a five minute walk to the park and playing fields, day care and village shops. To maintain the unique country-town atmosphere, the major supermarkets are hidden away from the village green again just a stroll from your new home.

Enjoy the peaceful, leafy reserve bordering this security gated and pleasant estate.

With long agreements in place and a supportive Body Corporate this adds real value for intending purchasers.

This management rights business is a renter’s paradise and has proven the test of time since current managers purchased off the plan.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $153,000 Remuneration / Body Corp Salary: $67,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $399,000Bedrooms: 3Bathrooms: 3Car Spaces: 3Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 53Total Units in Letting Pool: 42Owner Occupy Units: 8Outside Agent Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesPay TV: Yes

Marketing Agent

Jenny Zheng

Property Bridge

Key Investment Insights

1. Well-established and successful business with 14 years of operation.
2. Located in a highly desirable and convenient area with access to excellent schooling and shopping.
3. Low maintenance townhouse complex with a peaceful and leafy reserve bordering the estate.
4. Long agreements in place and supportive Body Corporate adds value for potential buyers.
5. Renter's paradise with proven success since current managers purchased off the plan.
6. Net profit of $153,000 and remuneration/body corp salary of $67,000.
7. Managers unit with a value of $399,000, 3 bedrooms, 3 bathrooms, and 3 car spaces.
8. On-site office and pets are allowed.
9. Permanent complex with a total of 53 units, 42 in the letting pool, and 8 owner-occupied units.
10. Agreement module is accommodation with a term of 25 years and 21 years remaining.
11. Amenities include a pool and pay TV.

Management Rights Multiplier: 4.99
ROI Estimate: 20.04%