MANAGEMENT RIGHTS FOR SALE ON BRISBANE'S SOUTHSIDE - 1P4282MR
Illness forces sale and motivated vendors are willing to consider all reasonable offers on this 6 year old complex of 60 units with 52 being rented by the Manager..
All equipment for maintaining the common areas is owned by the Body Corporate. A two person team can easily run the caretaking and letting business with time to pursue other interests. The current Managers have set up the business to run like a Swiss clock. A recent 5 year top-up of the Agreements means they have until 2041 (23 years left) with further options. This time frame provides excellent security over the business.
A gardener is currently employed to carry out the caretaking duties due to the Managers' health.
If this free standing house with office and the business appeal to you then please contact CRE Brokers for more information or to book an inspection. You won't be disappointed.
TOTAL NUMBER OF UNITS : 60
UNITS IN LETTING POOL : 52
MANAGER'S RESIDENCE : 3 BEDROOM FREE STANDING TOWNHOUSE
NET PROFIT : $158,000
REAL ESTATE PRICE : $435,000
BUSINESS PRICE : $735,000
TOTAL ASKING PRICE : $1,170,000
Price: Management Rights $1,170,000
Net Profit: $158,000 Remuneration / Body Corp Salary: $73,597Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $435,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes
Complex InformationComplex Type: n/aTotal Units in Complex: 60Total Units in Letting Pool: 52Permanent Units: 52Owner Occupy Units: 3Outside Agent Units: 5Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesGym: YesBBQ Area: YesPay TV: YesWIFI: Yes
Other Features / Notes
A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS