Hillcrest, Queensland

Management Rights $1,170,000

Property Description

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

Property Summary

Business Snapshot

Price: Management Rights $1,170,000 Net Profit: $158,000 Remuneration / Body Corp Salary: $73,597Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $435,000Bedrooms: 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

Marketing Agent


Marketing Agency

CRE Brokers

Jim Prentice
CRE Brokers

Phone

Listing Tools

Property Map

Map Location ( get directions )

Hillcrest, Queensland 4118 Exact map location not provided

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