Townsville, Queensland
Outstanding Townsville Permanent Management Rights with Robust Income Stream
$1,750,000
Business Description
An outstanding opportunity to acquire a quality permanent management rights business located within one of Townsville's most sought-after residential precincts.
This management rights opportunity presents an outstanding opportunity with an exceptionally strong Body Corporate salary of $216k plus gardening incentive of $36k per annum and a secure 23 years remaining on the accommodation module agreements. Combined with the flexibility of NO set office hours, this business offers an enviable lifestyle with reliable income.
Currently managing 20 apartments in the letting pool, there is excellent scope for future growth by securing the 7 outside agents back into the letting pool and selling within the complex.
The manager's residence comprises a spacious two-bedroom, two-bathroom apartment with one secure car space. Included on title is a large, air-conditioned office consisting of two separate rooms, providing an ideal and professional workspace for the business.
Positioned alongside the picturesque Ross River, this immaculately presented gated estate comprises 108 spacious two and three-bedroom apartments. With resort style pool and peaceful lifestyle, the complex is highly regarded by long-term tenants.
The location is second to none, with walking and cycling paths at your doorstep and convenient access to Townsville University Hospital, James Cook University, Lavarack Barracks and the Townsville CBD. These major employment hubs continue to drive strong demand for quality rental accommodation, providing excellent stability for the business.
Whether you are an experienced operator or entering the management rights industry, this is a rare opportunity to acquire a quality permanent business backed by an outstanding salary, long-term agreements and significant growth potential.
Business Highlights:
* Exceptional Body Corporate salary $216k plus gardening incentive $36k per annum
* Secure 23 years remaining on the accommodation module agreements
* NO set office hours, providing outstanding lifestyle flexibility
* Currently 20 apartments in the letting pool with opportunity to increase
Opportunities of this calibre are rarely available, contact Rebecca today for further information.
Net Profit: $296,480
Property Code: 129
Business Summary
Business Snapshot
Price: $1,750,000
Net Profit: $296,480 Remuneration / Body Corp Salary: $252,000Business Value: $1,100,000Body corp salary review: CPI Annually
Managers Unit
Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes2 Bedroom, 2 Bathroom, 1 carport spacious unit
Complex Information
Complex Type: PermanentTotal Units in Complex: 108Total Units in Letting Pool: 20Owner Occupy Units: 81Outside Agent Units: 7Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: Yes
Key Investment Insights
1. Strong recurring cashflow, net profit $296,480 per annum, asking price $1,750,000.
2. Robust guaranteed Body Corporate remuneration $216,000 per annum, plus gardening incentive $36,000, total remuneration $252,000, CPI annual review.
3. Long-term security with accommodation module agreements originally 25 years, 23 years remaining.
4. Significant upside in lettings, currently 20 of 108 apartments in the letting pool, opportunity to re-secure seven outside-agent units and sell within the complex.
5. Business value component $1,100,000, providing clear separation between goodwill and asking price.
6. Manager’s residence is a spacious two-bedroom, two-bathroom apartment with one secure car space, pets permitted.
7. Professional on-title office included, air-conditioned with two separate rooms, supports business operations and client meetings.
8. Highly desirable complex setting, gated estate beside Ross River, resort-style pool and well presented, attracting long-term tenants.
9. Prime location benefits, walking and cycling paths at the doorstep, close to Townsville University Hospital, James Cook University, Lavarack Barracks and the CBD, supporting steady rental demand.
10. Operational lifestyle advantage, no set office hours, offering flexibility for owner-operators.
11. Stable ownership profile, 81 owner-occupied units in a 108-unit complex, reducing turnover and management volatility.
12. Clear growth proposition for both experienced operators and entrants to the sector, due to secure income, long agreements and identifiable letting pool expansion opportunities.
