Griffin, Queensland

Management Rights $2,468,000

Property Description

MANAGEMENT RIGHTS IN THE BOOMING NORTH LAKES AREA - 1P4732MR

CRE Brokers are pleased to list, as Exclusive Agents, the chance for a buyer to purchase the caretaking and letting agreements for two complexes and one Manager's residence.

Both complexes are under 5 years old, built by the same developer and comprise a total of 114 townhouses of which 106 are in the Manager's letting pool. The caretaking salary is in excess of $142,000 with an annual CPI increase. A net income of $370,000 has been provided by an Industry Accountant for your peace of mind.

The Manager's free standing townhouse has four bedrooms, 2.5 bathrooms, study, two car garage and office. Extra parking available.

TOTAL NUMBER OF UNITS: 114
UNITS IN LETTING POOL: 106

NET PROFIT: $370,000
REAL ESTATE PRICE: $470,000
BUSINESS PRICE: $1,998,000
TOTAL ASKING PRICE: $2,468,000

Property Summary

Business Snapshot

Price: Management Rights $2,468,000 Net Profit: $370,338 Remuneration / Body Corp Salary: $142,797Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $470,000Bedrooms: 4Bathrooms: 2Car Spaces: 4Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 114Total Units in Letting Pool: 106Permanent Units: 106Owner Occupy Units: 3Outside Agent Units: 5Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesGym: YesPay TV: YesWIFI: Yes

Other Features / Notes

A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Gold Coast/Brisbane

Marketing Agent


Marketing Agency

CRE Brokers

Jim Prentice
CRE Brokers

Phone

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Property Map

Map Location ( get directions )

Griffin, Queensland 4503 Exact map location not provided

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