Key Investment Insights
1. Fully topped up 25 year agreements, remaining term to 25 November 2050, providing long-term contractual security from day one.
2. Asking price $821,000 for the management rights plus $898,800 for the manager’s unit, total $1.719 million.
3. Net profit $171,654, with additional remuneration/body corporate salary of $90,968.
4. Manager’s residence is a three-bedroom, two-bathroom, two-car onsite unit valued at $898,800, enabling true owner-operator occupation.
5. Complex comprises 62 permanent townhouse units, all three-bedroom layouts, creating a consistent rental product attractive to long-term tenants and investors.
6. Letting pool of 21 units, 38 owner-occupied units and only 3 outside agent units, indicating strong owner support and limited external competition.
7. Low-maintenance caretaking workload, nil office hours, only one pool to maintain and minimal gardens, suited to a relaxed lifestyle operation.
8. Pool chemicals paid by the body corporate and gardening support already in place, reducing operating expenses and manager responsibilities.
9. All garden equipment included, lowering immediate capital outlay for incoming managers.
10. Recent building maintenance completed, including full painting and roof restoration, reducing near-term capital expenditure.
11. Bayside Wakerley location offers lifestyle appeal and practical access to Manly, Wynnum, local shopping, schools, parks and everyday amenities.
12. Committee described as very supportive, facilitating a smooth handover and ongoing operations.
Management Rights Multiplier: 4.78
ROI Estimate: 9.98%
