Nundah, Queensland

Great Northside Complex

$1,399,000

Business Description

- Accommodation Module
- Long-term Agreements in place (23 years left to run)
- Documented Systems & Procedures (both digital & hardcopy)
- Caretaking Salary $118, 725 – increased in April each year by CPI rate
- Good working relationship with Body Corporate
- Body Corporate very cooperative and proactive
- Scope for increasing income through minor repair & maintenance jobs in units (sliding door rollers, flyscreens, small painting jobs …
- Grounds & pool in good condition and easy to maintain
- Ride-on mower & trailer, lots of new/well-maintained grounds equipment
- Established relationships with reliable & competent tradespeople who will attend after-hours in an emergency
- Up-to-date WH&S certification
- Business currently operated by 1 person with contracted groundman taking care of lawns, gardens & pool each day.
Please contact Robert Collins Joint Exclusive Agent on ---------- or ----------
You will not be disappointed

Business Summary

Business Snapshot

Price: $1,399,000 Net Profit: $165,712 Remuneration / Body Corp Salary: $118,700

Managers Unit

Value of Managers Apartment: $649,000Bedrooms: 3Bathrooms: 2Car Spaces: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 75Total Units in Letting Pool: 29Owner Occupy Units: 41Outside Agent Units: 5Agreement Term: 25 yearsAgreement Term Remaining: 23 years
Marketing Agent
Robert Collins
Robert Collins

Key Investment Insights

Key insights for this business for sale listing include:

1. Long-term agreements in place with 23 years remaining, providing stability and security for the business.

2. Well-documented systems and procedures, both digital and hardcopy, making it easy for a new owner to take over and run the business efficiently.

3. Caretaking salary of $118,725, which is increased annually in line with CPI, providing a steady income for the manager.

4. Good working relationship with the Body Corporate, who are described as cooperative and proactive.

5. Potential for increasing income through minor repair and maintenance jobs in the units, such as sliding door rollers, flyscreens, and small painting jobs.

6. Grounds and pool are in good condition and easy to maintain, with a ride-on mower and trailer and a range of well-maintained grounds equipment included in the sale.

7. Established relationships with reliable and competent tradespeople who can attend to emergencies after hours.

8. Up-to-date WH&S certification, ensuring a safe and compliant workplace.

9. The business is currently operated by one person, with a contracted groundman taking care of daily lawn, garden, and pool maintenance.

10. The manager's unit is valued at $649,000 and has three bedrooms, two bathrooms, and two car spaces.

11. The complex is a permanent accommodation module with a total of 75 units, 29 of which are in the letting pool.

12. The agreement term is 25 years, with 23 years remaining.

Overall, this business for sale offers a stable and profitable opportunity for a new owner, with potential for growth and a supportive Body Corporate.

Management Rights Multiplier: 4.53
ROI Estimate: 22.09%

Listing location
Gallery

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