Rockhampton, Queensland
UNIQUE Management Rights Rockhampton (Great Tenants) Same managers 17 years
SOLD
Business Description
Overview
The business is perfectly located in Australia's beef cattle capital and benefits hugely from overseas 457 visa workers who are housed here by this multi National Meat Company. The meat company pays the bond and 2 weeks rent and worker pays back Meat Company. If any issues with tenant (only 3 in the whole 17 years) it is resolved by meat company. This gives the business the enviable position of being able to boast a 99% occupancy rate & "trouble free"
The Business
• Currently 54 in letting pool of this 46 x 2 bed, 26 x 3 bed quiet and orderly complex
• Separate freehold Office Block with a 2 x bedroom Unit attached (Can be Managers Residence), with Kitchen, lounge/dining, study, bathroom currently rented for $350 per week.
• 23 years remaining on managers agreement
• Large security gated complex comprising of 70 units of which 54 are in the letting pool
• High Body Corporate salary of over $165.00,000 + CPI
• Easily managed complex 5 day a week
• Massive room for growth into extra income streams i.e. selling of investors units)
• No set office hours
• Great opportunity to purchase a tightly held business as sellers are moving on and retiring after 17year
• New Body corporate committee
Net profit
For 2020 including managers wage $ 195,000 to $200,000 (2021)
Asking Price
$960,000 - Management Rights $660,000 + Office & 2 bed unit $300,000
There is also a large 44sq modern, fully air-conditioned double story comfortable freestanding home (away from complex) 4-bedroom, 1 x bathroom with upstairs Modern generous open plan Kitchen, and utility room (currently being used as a dining/lounge) Laundry, bathroom & outdoor living space and extra parking.
Asking Price : $960,000
Simone Simpson LREA
Licensee Executive Broker
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Business Summary
Key Investment Insights
Key Insights:
1. The business is located in a prime location in Australia's beef cattle capital, which provides a strong and stable market for the management rights business.
2. The business benefits from a partnership with a multi-national meat company, which provides a consistent stream of tenants for the complex.
3. The complex boasts a 99% occupancy rate and has only had 3 tenant issues in the past 17 years, which highlights the stability and reliability of the business.
4. The complex has a large number of units in the letting pool (54 out of 70 units) and a high body corporate salary, which provides a strong and consistent income for the managers.
5. The business has 23 years remaining on the management agreement, providing long-term security for the new owners.
6. The complex is easily managed, with only 5 days of work per week required and no set office hours.
7. There is potential for growth in extra income streams, such as selling investors' units.
8. The sellers are retiring after 17 years, providing a rare opportunity to purchase a tightly held business.
9. The managers' unit is a separate freehold property with a 2-bedroom unit attached, providing additional rental income.
10. The asking price for the business is $960,000, which includes the management rights, office, and 2-bedroom unit.
11. There is also a modern, fully air-conditioned 4-bedroom home available for purchase, providing additional living space for the managers.
12. The business is being sold by Simone Simpson, a licensed executive broker with experience in the management rights industry.
