Varsity Lakes, Queensland

PROFITABLE MR DUO + UNTAPPED INCOME POTENTIAL + STRONG BC RELATIONSHIP | Resort Brokers ID : MR008741

$3,420,000

Business Description

ResortBrokers brings to market an exceptional 'duo' of Varsity Lakes businesses comprising of modern mid-rise complexes, which are operated as a single, successful management rights business.

This asset is underpinned by long-term agreements with 20+ years remaining, ensuring stability and security. This business opportunity is further enhanced by a healthy $255,429 BC remuneration and a Net Profit $447k+.

With a total of 208 units, the property benefits from a solid letting pool of 72 units ensuring a reliable and ongoing income stream along with the potential for further growth through converting the 32 outside agents.

The manager’s residence at Aura Towers is a spacious three-bedroom, two-bathroom apartment with a private courtyard with a large office at Brooklyn Apartments. The absence of set office hours provides flexibility.

With its prime location, modern facilities and a proactive owner group, this management rights business duo is a rare find. The new owner will benefit from the existing operator’s excellent relationship with the body corporate, making it an ideal opportunity for experienced operators or those eager to enter the industry.

- Two modern mid-rise complexes operated as a single successful business
- Impressive $245k body corporate remuneration
- Significant growth potential with 32 external agents
- Flexible operations with no set office hours
- Strong body corporate relationship with proactive ownership
- Contemporay ground floor manager's residence with courtyard at Aura
- Expansive sales and letting office at Brooklyn
- Secure long-term agreements with +20 years remaining
- Inspections are by appointment only
Date updated: 19 May 2025 23:00:02