Merrimac, Queensland

UNDER CONTRACT. Small Management Rights complex with solid Body Corporate salary - 1P4373

Management Rights $900,000

Business Description

. Good location and just 2 minutes to Robina Town Centre or Mudgeeraba Shopping Centre. A private school is within walking distance and close access to the Pacific Highway north and south.
. 46 villas total with manageable duties, this business can be comfortably operated by one person.
. Good security with approx. 89% of income coming from the Body Corp salary, plus a small letting pool with very solid rental demand.
. Accommodation. Module agreements.
. Popular family environment with large Pool/BBQ area, ½ Basketball Court and Children's playground.
. Minimal Office Hours ( 5 hours per week )
. Pet friendly complex.
. 3 Bed / 2 Bath Manager's Townhouse with a SLUG and one extra parking space. Office attached on title.

Residence : $550,000
Business : $350,000
Total : $900,000

Business Summary

Business Snapshot

Price: Management Rights $900,000 Net Profit: $99,000 Remuneration / Body Corp Salary: $73,370Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $380,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 46Total Units in Letting Pool: 13Owner Occupy Units: 29Outside Agent Units: 4Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesBBQ Area: Yes

Other Features / Notes

A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Gold Coast/Brisbane

Marketing Agent

Jim Prentice

CRE Brokers

Key Investment Insights

1. Good location with easy access to major shopping centers, schools, and highways.
2. Manageable duties with potential for one-person operation.
3. Solid Body Corporate salary with a high percentage of income coming from it.
4. Accommodation module agreements in place.
5. Family-friendly environment with amenities such as a pool, BBQ area, and playground.
6. Minimal office hours required.
7. Pet-friendly complex.
8. Manager's townhouse with 3 bedrooms and 2 bathrooms.
9. Total asking price of $900,000, including $550,000 for the residence and $350,000 for the business.
10. Net profit of $99,000.
11. Remuneration/Body Corp salary of $73,370 with annual CPI review.
12. Manager's apartment valued at $380,000.
13. Permanent complex with 46 units, 13 in the letting pool, and 29 owner-occupied units.
14. Outside agent units make up 4 of the total units.
15. 25-year agreement term with 18 years remaining.
16. Additional amenities such as a half basketball court.
17. Potential for growth and expansion with additional marketing efforts.
18. Well-maintained and secure complex.
19. Management rights for sale in a popular and desirable area.

Management Rights Multiplier: 5.25
ROI Estimate: 19.04%