Sunnybank Hills, Queensland

MR Business for Sale: Central Location together with Solid Income in Sunnybank Hills, Brisbane.

SOLD

Business Description

- Location! Location! Location! This complex is ideally located in the heart of Sunnybank Hills within walking distances to shopping centre, schools, parks, Altandi Station and public transport.

-Large BC salary provides unique stability and is a perfect opportunity to secure a solid income and lifestyle business.

-First time on the market after 12 years due to operators pending retirement.

-Income has been verified by specialist management rights accountants, McAdam Siemon and covers period 1 May 20 to 30 April 21.

-Increase in BC salary effective 6 June 21 increases NOP to $298,628.00

-Remuneration / Body Corp Salary: $227,335 increases to $238,701 effective from 6 June 21.

-Body Corp salary review: 5% Annually June

Business Summary

Business Snapshot

Price: SOLD Net Profit: $287,262 Remuneration / Body Corp Salary: $227,335Body corp salary review: Fixed %

Managers Unit

Value of Managers Apartment: $450,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On Title
Well presented managers unit with recent renovations to kitchen, bathrooms and flooring.

Complex Information

Complex Type: PermanentTotal Units in Complex: 79Total Units in Letting Pool: 23Agreement Module: StandardAgreement Term: 25 yearsAgreement Term Remaining: 19 years
Marketing Agent

Key Investment Insights

1. Prime location in the heart of Sunnybank Hills, with close proximity to shopping centres, schools, parks, and public transport.

2. Large Body Corporate salary provides stability and a solid income for the business.

3. Opportunity for a new owner to take over after 12 years of successful operation by current owners.

4. Verified income by specialist management rights accountants, providing transparency and assurance for potential buyers.

5. Upcoming increase in Body Corporate salary effective 6 June 2021, leading to an increase in net operating profit.

6. Annual Body Corporate salary review of 5% provides potential for continued growth and increased income.

7. Managers unit is well-presented with recent renovations to kitchen, bathrooms, and flooring.

8. Permanent complex with a total of 79 units and 23 units in the letting pool, providing a stable and consistent income stream.

9. Long agreement term of 25 years with 19 years remaining, providing security and stability for the business.

10. Opportunity for a new owner to further improve and grow the business, with potential for increased income and capital growth.

Management Rights Multiplier: 6.27
ROI Estimate: 15.96%

Listing location

This Business is sold

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