Slacks Creek, Queensland
Full 25 Years and Large Income Management Rights Retirement Village in Brisbane Southside
SOLD
Business Description
High Return Business
This business is one of the best permanent management rights available on the South Side, with a return on investment of over 15%. The current net profit of $301,839 is growing, with investors changing over to the onsite manager and more tenants taking up meals. There is definitely potential for the profit to grow to $400,000 over the next few years. This business comes with lots of upside.
Stable and Safe Permanent Management Rights
Consisting of 84 units including the manager's lot, there are 63 units are in the letting pool which means the body corporate relationship is very supportive and easy to manage as there are only 8 owner occupiers.
Just topped up to a full 25 years agreements.
This complex is designed for the over 55's looking for a hot meal to be prepared for them. Tenants utilise this food service, as the units are usually only one bedroom, one bathroom with kitchenette. Rents are around $300 per week including lunch. They charge a standard letting commission with additional charges including: a Community Service fee, extra meals etc.
Easy Caretaking Workload
The gardens are not big, they are low maintenance and there is no gym, swimming pool or spa to worry about. There is a dedicated kitchen and communal dining room where food is prepared and served. This is owned and maintained by the body corporate but the manager has exclusive use.
Well-presented Manager Residence
The manager's lot comprises of a three bedrooms, two bathrooms unit in a breezy elevated position overlooking the tranquil grounds, which makes it easy to keep an eye on things in your complex.
Income has been verified by specialist management rights accountants, Q&T accountants.
Come and take a look we are sure you will be impressed!
This would be a perfect opportunity to secure a solid income and lifestyle business, it ticks all your boxes.
Please book your inspection immediately with our NEXT team.
Business Summary
Key Investment Insights
1. High return on investment of over 15%
2. Current net profit of $301,839 with potential to grow to $400,000
3. Consists of 84 units with 63 in the letting pool
4. Supportive and easy to manage body corporate relationship
5. Recently topped up to a full 25 years agreements
6. Designed for over 55's with a food service included in rent
7. Low maintenance gardens and no additional facilities to manage
8. Well-presented manager's residence with three bedrooms and two bathrooms
9. Income verified by specialist management rights accountants
10. Opportunity for a solid income and lifestyle business
11. Exclusive use of dedicated kitchen and communal dining room
12. Breezy elevated position overlooking tranquil grounds
13. Book an inspection with the NEXT team for more information.
