Teneriffe, Queensland
Solid Income and Large Remuneration Centrally in Teneriffe
$3,158,000 ONO
Business Description
NEXT Realty is proud to present an exclusive opportunity to acquire the management rights of a large income permanent management rights business in Teneriffe, indeed it is a good opportunity for astute investors seeking stability, growth, long-term returns as well as a good lifestyle.
MLR Business Asking for $2,058,000 on Net Income $363,525
Manager Residence is a large 2/2/1 apartment plus on-title office at $1,100,000
High quality complex, perfectly located in the prestigious heart of Teneriffe, most sought after nature environment for quality lifestyle, Tucked within the heritage-rich Woolstore precinct, you're just moments from the Brisbane Riverwalk, Gasworks dining, James St and public transport - with the CBD just minutes away.
- Great Buildings in Teneriffe Area and all good procedure in place
- Great remuneration $248,898 with annual increase of CPI
- Very solid P&L statement, verified by industry specialist accountant
- 20 years+ left on Caretaker/Letting Agreements
- Manager Residence - A large 2/2/1 Apartment, plus a large office and storage on title,
- There are long-term good subcontractors - gardening and cleaning in place
- No offices hours, be contactable during normal hours
If you want to buy a great management right business and beautiful lifestyle, it ticks all your boxes, please book your inspection immediately with NEXT team.
Business Summary
Key Investment Insights
1. Asking price for the MLR business $2,058,000, net income $363,525, implying an approximate cash yield of 17.7% on the business sale price.
2. Manager remuneration $248,898 with an annual CPI increase, providing indexed, predictable personal income.
3. Manager residence offered separately at $1,100,000, large 2 bedroom, 2 bathroom, 1 car apartment with on-title office and storage, adding significant owner-occupied asset value.
4. Long-term contract security, with more than 20 years remaining on the Caretaker and Letting Agreements.
5. P&L described as very solid and verified by an industry specialist accountant, supporting financial reliability.
6. High-quality complex in the prestigious heart of Teneriffe, within the heritage Woolstore precinct, enhancing prestige and tenant appeal.
7. Prime location benefits including immediate access to the Brisbane Riverwalk, Gasworks dining, James Street retail and public transport, with the CBD only minutes away.
8. Established operational procedures and well-maintained buildings, indicating streamlined management and lower transition risk.
9. Long-term subcontractors in place for gardening and cleaning, reducing operational overhead and continuity risk.
10. Flexible work model with no fixed office hours required, only requirement to be contactable during normal hours, supporting lifestyle appeal.
