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$1,662,000

Permanent management rights, Benowa QLD

With a Generous Body Corporate Salary of $95,523 & NO set office hours % 25 years remaining on the agreement, this business offers ultimate flexility. The current owners have successfully managed this business for 10 years. Comprising 49 Units, there are 17 [+ 2 Units that is managed in Surfers Paradise] in the permanent letting pool, presenting upside potential to convert outside lets & further increase the net profit.

More Information

Financial Overview

Total Purchase Price: $1,662,000
Net Income: $ 126,811 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,060,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.7
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: 17
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 27
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 5
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 49
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 95,523
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 25 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 33 years
_{How long has the management rights existed.}

Office Hours: No Set Office Hours
_{Required Office Hours}

Complex Features: Are you in search of the perfect lifestyle business?Then look no further.This Benowa permanent Management Rights business opportunity centrally located near Schools, Hospitals, Public Transport, Shopping Precincts a short drive to the Sand Surf. Parks Recreational Sporting Facilities nearby including the Botanical Gardens, Turf Club Gold Club around the corner. Comprising 49 Units, facilities within the Complex include Pool, BBQ area, Artificial Lawn Tennis Court, but the true appeal lies in. the ease of the Caretaking, The low maintenance Gardens Lawns mowed with ride-on Mower.

Real Estate Component

Manager's Unit: 4 2

Included Real Estate: $ 1,060,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 4

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: The Managers Townhouse is a spacious four-Bedroom, two Bathroom Residence with an on-title Reception/Office, located to entrance of the Complex. With Timber floating floors Ducting Air-Conditioning throughout. The residence also features a good size Courtyard, double lock--up Garage two additional parking spaces on the Driveway. The Master Suite haas a walk through Robe into the Ensuite. Main Bathroom services to Bedrooms on the main floor separate Toilet. Downstairs has one bedroom, Toilet, Laundry, Double Garage Office/Reception area.