Hillcrest, Queensland

Management Rights $1,130,000

Property Description

MANAGEMENT RIGHTS FOR SALE ON BRISBANE'S SOUTHSIDE. URGENT SALE. VENDORS PREPARED TO NEGOTIATE - 1P4282MR

Great buying opportunity on the South-side.

The Vendors, having been in the Industry for many years, sadly, must give up the offering on sound medical advice. This is a one off opportunity for a keen purchaser to buy a steady business and excellent home below current market values. Due to the seriousness of these health issues the Vendors at this south-side complex of 60 units have a real genuine need to sell the business and residence.

The Caretaking and Letting Agreements run until 2041 with options available to extend further thus providing excellent security over your investment.

THE VENDORS ARE WILLING TO CONSIDER ALL REASONABLE OFFERS

The complex is currently run with the help of a part-time gardener but would suit either a couple or single operator to fulfill the requirements of the Body Corporate Agreement. All equipment, including a ride-on-mower, to maintain the common areas of the complex is owned and serviced by the Body Corporate

The net income has been steady for some time now and there is an opportunity for a manager to increase the bottom line with the addition of other income streams.

In today's market this home and business package represents good value for money and must be inspected at the earliest.

TOTAL NUMBER OF UNITS 60

UNITS IN LETTING POOL 50

MANAGERS RESIDENCE 3 BEDROOM FREE STANDING TOWNHOUSE

NET PROFIT $155,000

REAL ESTATE PRICE $420,000

BUSINESS PRICE $710,000

TOTAL ASKING PRICE $1,130,000

Property Summary

Business Snapshot

Price: Management Rights $1,130,000 Net Profit: $155,556 Remuneration / Body Corp Salary: $74,919Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $425,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex 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, C:QLD - Gold Coast/Brisbane, C:QLD - Southern

Marketing Agent


Marketing Agency

CRE Brokers

Jim Prentice
CRE Brokers

Phone

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Property Map

Map Location ( get directions )

Hillcrest, Queensland 4118 Exact map location not provided

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