Thorneside, Queensland

16% RETURN ON INVESTMENT. BRISBANE BAYSIDE.

SOLD

Business Description

Long term managers now offer this very stable, well-presented townhouse complex for those looking to purchase a secure business. One that will survive and thrive through uncertain times, with a guaranteed Body Corporate caretaking salary of over $2,500 per week.

104 lots in total, with 28 in the rental pool and potential to improve the net income through acquisition of outside agent lets. The income is underpinned by a sizeable caretaking salary of $133,000 ( 75% of Net Profit ) with accountants Profit and Loss for the year to 31 Dec 2019 showing a Net Profit of $177,000.

The current managers have a very good working relationship with owners and Body Corporate Committee and this complex has a history of regular agreement extensions.

Excellent living and working environment by Waterloo Bay. Close to shopping, public transport, childcare centre and good schools. The manager’s home has 3 bedrooms with office attached on title. Flexibility with no set office hours. Residents enjoy great facilities including swimming pool, tennis court, function room, BBQ area.

After eight successful years the current managers are now looking forward to retirement and will provide comprehensive and complete training to help new managers make the most of a genuine opportunity to build on this healthy management rights business..

Business Summary

Business Snapshot

Price: SOLD Net Profit: $177,000 Remuneration / Body Corp Salary: $133,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $350,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Excellent 3 bedroom townhouse with lots of space and a large garden in resort style complex

Complex Information

Complex Type: PermanentTotal Units in Complex: 104Total Units in Letting Pool: 28Owner Occupy Units: 59Outside Agent Units: 16Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 9 yearsPool: YesTennis Court: YesBBQ Area: YesFunction Facilities: Yes

Marketing Agent

Jim Lowe

0403 41....

Jim Lowe

0403 41....

Property Bridge

Key Investment Insights

1. The business for sale is a well-presented townhouse complex with 104 lots in total.
2. The rental pool currently has 28 units, with potential to increase through acquisition of outside agent lets.
3. The business has a guaranteed Body Corporate caretaking salary of over $2,500 per week.
4. The income is underpinned by a sizeable caretaking salary of $133,000 (75% of Net Profit).
5. The current managers have a good working relationship with owners and Body Corporate Committee.
6. The complex has a history of regular agreement extensions.
7. The location is in a desirable area by Waterloo Bay, close to shopping, public transport, childcare center, and good schools.
8. The manager's home has 3 bedrooms with an attached office on title.
9. There is flexibility with no set office hours.
10. Residents have access to great facilities including a swimming pool, tennis court, function room, and BBQ area.
11. The current managers are looking forward to retirement and will provide comprehensive training for the new managers.
12. The Net Profit for the year to 31 Dec 2019 was $177,000.
13. The Body Corporate salary is reviewed annually with CPI.
14. The manager's apartment has a value of $350,000.
15. The complex is a permanent type with 104 units in total, with 28 in the letting pool.
16. There are 59 owner-occupied units and 16 outside agent units.
17. The agreement module is Standard with a term of 10 years remaining.
18. The complex has amenities such as a pool, tennis court, BBQ area, and function facilities.

Management Rights Multiplier: 4.24
ROI Estimate: 23.60%