Thorneside, Queensland

Under Contract / Offer

Property Description

16% RETURN ON INVESTMENT. BRISBANE BAYSIDE.

Long term managers now offer this very stable, well-presented townhouse complex for those looking to purchase a secure business. One that will survive and thrive through uncertain times, with a guaranteed Body Corporate caretaking salary of over $2,500 per week.

104 lots in total, with 28 in the rental pool and potential to improve the net income through acquisition of outside agent lets. The income is underpinned by a sizeable caretaking salary of $133,000 ( 75% of Net Profit ) with accountants Profit and Loss for the year to 31 Dec 2019 showing a Net Profit of $177,000.

The current managers have a very good working relationship with owners and Body Corporate Committee and this complex has a history of regular agreement extensions.

Excellent living and working environment by Waterloo Bay. Close to shopping, public transport, childcare centre and good schools. The manager’s home has 3 bedrooms with office attached on title. Flexibility with no set office hours. Residents enjoy great facilities including swimming pool, tennis court, function room, BBQ area.

After eight successful years the current managers are now looking forward to retirement and will provide comprehensive and complete training to help new managers make the most of a genuine opportunity to build on this healthy management rights business.

Property Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $177,000 Remuneration / Body Corp Salary: $133,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $350,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes
Excellent 3 bedroom townhouse with lots of space and a large garden in resort style complex

Complex Information

Complex Type: PermanentTotal Units in Complex: 104Total Units in Letting Pool: 28Permanent Units: 28Owner Occupy Units: 59Outside Agent Units: 16Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 9 yearsPool: YesTennis Court: YesBBQ Area: YesFunction Facilities: Yes

Marketing Agent


Marketing Agency

Property Bridge

Jim Lowe
Property Bridge

Phone

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Map Location ( get directions )

Thorneside, Queensland 4158 Exact map location not provided

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