High Performing Business-Only MLR in Prime CBD Location! | Resort Brokers ID : MR008444

$3,527,203

Permanent Management Rights, Brisbane QLD

ResortBrokers is thrilled to present an exclusive opportunity to acquire the management rights of a substantial Business-Only permanent complex located in Brisbane's iconic Roma Street Parklands. This impressive property, delivered in 2005, features 401 apartments spread across four high-rise towers, offering significant income, exceptional management flexibility and immense growth potential.

This is a unique opportunity to acquire an incredible management rights business in one of Brisbanes most iconic locations. This investment is a unique opportunity for astute investors seeking stability, growth, and long-term returns.

Dont miss the chance to benefit from a well-established operation with strong financials and immense potential for future growth. Call us today!

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Primelocation in Roma Street Parklands with major infrastructure boosting demand.

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Business generates a net profit of $643,413 with body corporate salary of $746,675.

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A generous amount of wages has been allowed in the P&L which is prepared by a professional industry accountant.

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All current onsite letting units are permanent lets - 100% occupancy.

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Growth potential by converting permanent lettings to Short-Term lettings, and converting outside lettings into the onsite letting pool.

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Strong body corporate relationship under long-term agreements with multiple successful top-ups to 10 years (Accommodation Module - potential for new manager to top up to 25 years).

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Business is fully managed by experienced staff, offering flexibility for the new owner to either take a hands-on approach or continue with the established team.

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It is not mandatory to purchase the manager’s residence. The incoming manager has the flexibility to choose where to reside within the complex or may purchase the spacious 3-bedroom manager’s unit currently owned by the vendor for $ 1.5 million.

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Central onsite office offers visibility, and significant potential to generate additional income from apartment sales.

- Inspections are by appointment only
Date updated: 03 Nov 2024 22:00:03

More Information

Financial Overview

Total Purchase Price: $3,527,203
Net Income: $ 643,403 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 0
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: undisclosed
_{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: 64
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{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: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 401
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 746,675
_{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: 9 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: Caretaking Agreement: 2 hours Mon-Fri. Current office hour in practice: Mon-Fri 8am-4pm
_{Required Office Hours}

Complex Features: B3 - Gym, indoor poo and spa, steam room, BBQ, two meeting rooms&recreational room B4 - No facilities B6 - Gym, indoor pool, steam room, meeting room and club room B7 - Gym, outdoor pool, BBQ, meeting room