Price Reduction - Gold Coast - ID 8562

$2,846,500

Permanent management rights, Biggera Waters QLD

Permanent Management Rights For Sale
Close To The Broadwater

- Large, well maintained gated estate
- 158 units in the complex with 56 in the letting pool
- Body Corporate salary over $228,000
- Long agreements with over 21 years remaining
- Resort style facilities, 2 pools, spa, sauna, BBQ etc
- 3 bedroom, 2 bathroom manager's residence with 2 car parks
- Office/reception is attached and on title
- There are no set office hours
- REI Master trust accounting software
- The manager's residence is currently rented at $600 per week

The complex is conveniently located close to the Gold Coast Broadwater, just minutes by water taxi to Seaworld and Marina Mirage. Easy access to shopping, dining and entertainment at Harbourtown.

Net Profit: $405,027
Asking Price: $2,846,500
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $2,846,500
Net Income: $ 405,027 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 700,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.3
_{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: 56
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 87
_{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: 15
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 158
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 228,000
_{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: 21 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 19 years
_{How long has the management rights existed.}

Office Hours: No set hours
_{Required Office Hours}

Complex Features: Two swimming pools, Spa, Sauna, BBQ, Security parking, Gym, CCTV

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 700,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

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

Pets: No
_{Can the manager own a pet on site?}

Unit Features: The Managerâs residence is a 3 bedroom ground floor unit with an office/reception attached and on title. It is ideally located near the entrance to the complex in a quiet location. The residence is airconditioned and offers 3 bedrooms, 2 bathrooms and 2 car accommodation. There is no requirement to live on site in the agreements allowing the managers unit to generate rental income. Currently rented at \\\\\\\\$600 per week. The office/reception is approximately 18m2 with REI master trust software and no office hours. The office/reception is attached to the managers unit however they both have separate entrances no common door entrance.