North Ward, Queensland
Townsville Business Only with Great Nett Profit
Business Only $450k
Business Description
BUSINESS-ONLY MANAGEMENT RIGHTS | CIRCA $155K NETT PROFIT | ROI 34%+
🌟Key Details
• 💰Nett Profit Circa $155,000
• 💰Body Corporate Salary Approx. $141,500
• 🏢55 Units Across Two Towers
• 🌆6 Units in Letting Pool
• 🔄5 Additional External Properties Managed
• Genuine Business-Only Management Rights
• No Requirement to Purchase a Manager's Unit
• ⏳Approx. 15 Years Remaining on Agreements
• Intended Top-Up Application at Next AGM
• Supportive Body Corporate Committee
• Reception Area Available for Business Operations
• 📈Additional Sales Commission Opportunities
• 9 Sales Completed in the Past 12 Months
• Over $8 Million in Recorded Sales Activity
A rare opportunity to acquire a genuine business-only management rights operation generating a nett profit of approximately $155,000 per annum and underpinned by a Body Corporate salary delivering over 90% of Profit providing income security
Fulton Gardens comprises 55 units across two residential towers and benefits from a manageable internal letting pool of six units, together with a further five external properties under management. The business also presents additional income opportunities through property sales, with nine sales completed within the complex over the past 12 months, representing more than $8 million in transaction value.
A key point of difference is the recent decoupling of the manager's unit from the management rights agreements following a successful Body Corporate vote. This creates a true business-only operation, allowing the incoming purchaser to operate the business without the requirement to purchase or occupy a manager's residence.
The current owners enjoy a strong working relationship with a supportive Body Corporate Committee. With approximately 15 years remaining on the agreements and an intended top-up application at the next AGM, the business offers both immediate tenure security and future upside.
A reception area is available for business operations and additional office space may be available for lease if required.
Business-only management rights opportunities are rarely offered to the market. Fulton Gardens combines strong recurring income, low capital entry requirements, operational flexibility and future growth potential in a tightly held Townsville location.
Contact Joel McCartin for further information.
**RAS360 Property Solutions – Specialists in Management Rights | Motels | Hotels | Pubs | Parks**
**Note:** The nett profit includes income derived from both the internal and external letting portfolios. The asking price reflects the contribution of the seven externally managed properties, with external letting income factored into the overall valuation methodology. Purchasers should note that all external letting income has been included when determining the advertised business price.
Business Summary
Business Snapshot
Price: Business Only $450k
Net Profit: $155,000 Remuneration / Body Corp Salary: $141,536
Complex Information
Complex Type: PermanentTotal Units in Complex: 55Total Units in Letting Pool: 6Owner Occupy Units: 47Outside Agent Units: 2Agreement Term: 25 yearsAgreement Term Remaining: 15 years
Key Investment Insights
1. Nett profit circa $155,000 per annum, advertised ROI of 34% plus based on a Business Only price of $450,000.
2. Body Corporate salary/remuneration approximately $141,536, representing over 90% of reported nett profit and providing income security.
3. Genuine business-only management rights, no requirement to purchase or occupy a manager's unit, enabling lower capital entry and operational flexibility.
4. Fulton Gardens comprises 55 units across two towers, with a small internal letting pool of 6 units, making letting operations manageable.
5. External management portfolio included, listed as five additional external properties managed, with external letting income factored into the valuation.
6. Recent decoupling of the manager's unit from the agreements following a Body Corporate vote, confirming true business-only status.
7. Approximately 15 years remaining on management agreements out of an original 25 year term, providing medium-term tenure security.
8. Supportive Body Corporate committee and an intended top-up application at the next AGM, indicating potential for future fee adjustments or income upside.
9. Track record of sales commissions, with 9 sales in the past 12 months totalling over $8 million in recorded transaction value, creating additional revenue streams.
10. Reception area available for business operations, with potential for additional leased office space, supporting on-site serviceability and customer access.
