Varsity Lakes, Queensland
Varsity Lakes - Permanent - Sold & Settled - ID 8941
SOLD
Business Description
High Net Profit
- Permanent management rights
- Gated villa and townhouse complex
- 99 lots with 56 in the letting pool
- High Body Corporate salary of $226,128
- Long agreements with over 21 years remaining
- Facilities include: swimming pool, spa and BBQ area
- Very supportive Body Corporate and committee
- 'Property Me' trust software
- Three bedroom manager's townhouse with double lock up garage
- Large office and reception area on title
- No set office hours, manager or manager's representative must reside in the manager's residence
The complex is centrally located close to Robina Hospital, Bond University, Robina Town Centre, train station, schools and M1 Motorway. Just a 10 minute drive to the beach at Burleigh Heads.
All caretaking, management and letting duties are currently outsourced to an experienced team. The new owner has the option to run the business as a completely passive investment or live onsite and increase their income further.
Net Profit: $362,800
Asking Price: $2,684,000
(Inclusive of manager's real estate)
For further information or to arrange an inspection of this Gold Coast management rights business for sale contact:
Exclusive Management Rights Broker
Phil Trimble
Property Code: 656
Business Summary
Key Investment Insights
- The complex is centrally located close to various amenities such as hospitals, universities, shopping centers, and public transportation
- The complex has 99 lots with 56 in the letting pool, providing a steady income stream
- High Body Corporate salary of $226,128, providing a stable source of income for the manager
- Long agreements with over 21 years remaining, providing security and stability for the business
- Facilities include a swimming pool, spa, and BBQ area, providing attractive amenities for tenants
- Very supportive Body Corporate and committee, making it easier to manage the complex
- Use of 'Property Me' trust software, making it easier to manage the administrative tasks of the business
- Three-bedroom manager's townhouse with a double lock-up garage, providing comfortable accommodation for the manager
- Large office and reception area on title, providing a professional and convenient workspace for the manager
- No set office hours, giving the manager flexibility in managing the business
- The option to run the business as a completely passive investment or live onsite and increase income further, providing flexibility for the owner
- Net profit of $362,800, providing a high return on investment
- Asking price of $2,684,000 (inclusive of manager's real estate), providing a good value for the business.
