BUILDING MANAGEMENT | 10 Year Contracts |Well Established
Residential Building Management Business is a rarity and their portfolio covers large growth areas of Sydney. There is an opportunity for new owners to capitalise on further growth with new & existing clients as well as tap into new ancillary business opportunities that will complement the existing business. This Business is currently in the top 5 residential building management companies in New South Wales and offered on the open market for the first time in 7 years of business.
About the Business
Successful building management comes down to three key areas; a focus on conscientious facilities management, growing the value of the asset for the long-term, and providing a proactive and responsive service that benefits both lot owners and residents on a daily basis. Currently being in the top 5 residential building management businesses in the industry, this business will sure to impress.
This building management business currently has 44 x building contracts servicing over 6,000 plus apartments with locked in 10 year contracts on each building with increases (by CPI or higher) annually on every contract for 10 years.
The main point of difference of this business is its proactive and preventative maintenance procedures;
• Management of contractors and portfolio wide tendering of all facilities maintenance contracts
• Preventative caretaking of building assets and equipment life cycles
• Management of defect rectification in co-ordination with original builder
• Pre-settlement & post-settlement services provided to developers & new lot owners
• Strata liaison to ensure by-law compliance and communication with tenant issues; capital fund (CAPEX/OPEX) forecasting; budgeting and insurances
• Personal resident liaison with reliable, ongoing communication of activity
• Proactive daily inspections of all common areas & facilities ensuring site WHS at all times.
• Professional on-going reports and audits of all common areas & facilities
• After hours and relief Building Managers on standby ready to respond
• Liaison where required with local authorities, Strata Communities Australia (NSW), Office of Fair-Trading NSW, Workcover NSW, NSW Police and NSW Fire & Rescue
PRICE: Expression of Interest
If you are interested in proceeding, I will arrange to pass on any further information that you may require to help you decide about whether this business is right for you. Certain sensitive or confidential information may be withheld by the vendor until the Due Diligence process starts. If you make an offer that is acceptable to the vendor, I will arrange a two-week period of exclusivity to allow you to conduct thorough due diligence.
During the due diligence process, you will have full access to the vendor's figures and records to verify that the basis on which you made the offer meets your expectations and matches previous information supplied. During this process the vendor may request proof of ability to raise the funds required to complete the transaction.
Price: Expression of Interest
Net Profit: $700,000
Complex InformationTotal Units in Complex: 0