Key Investment Insights
1. Well-established and maintained permanent management rights business located in Toowong, just under 5km from Brisbane CBD.
2. Single scheme complex with attractive Body Corporate salary of approximately $220,000.
3. Strong demand for rental properties in the area, providing a stable income for the business.
4. Convenient location with easy access to public transport, shopping complex, and other amenities.
5. 121 apartments over two towers, with a permanent letting pool of 38 units and potential to convert outside agents.
6. Separate freehold title office located on the ground floor.
7. Manager's three-bedroom unit is rented out, providing additional income for the business.
8. On-site facilities include a swimming pool, spa, hydro pool, gym, and tennis court.
9. 25-year caretaking and letting agreements in place.
10. Storage available under the body corporate.
11. Strong net profit of over $313,998.
12. Potential for growth and increased income through converting outside agents and increasing rental rates.
13. Inspections by appointment only.
Management Rights Multiplier: 5.53
ROI Estimate: 18.10%