Impressive Permanent on The Gold Coast - ID 8904

$2,615,000

Permanent management rights, Greater Gold Coast Region

Permanent Management Rights For Sale
Centrally Located

- 83 apartment complex with 25 in the letting pool
- Mid rise level with lifts
- Body Corporate salary over $185,000
- Caretaking agreement, partially supervisory
- Long agreements expiring in 2049
- Office attached and on title - REI cloud based software
- No set office hours
- No requirement to live onsite in agreements
- 2 bedroom, 2 bathroom manager's residence with 2 undercover parking spots
- Plenty of exclusive use storage
- Excellent Body Corporate and committee

The complex is located in a sought after area close to all that the Gold Coast has to offer. Call now for further information.

Net Profit: $289,329
Asking Price: $2,615,000
(Inclusive of Manager's Real Estate)

More Information

Financial Overview

Total Purchase Price: $2,615,000
Net Income: $ 289,329 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 995,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.6
_{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: 25
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 45
_{Number of units resided in by their owners.}

Lock Ups: 5
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 9
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

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

Caretaking

Remuneration: $ 186,209
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 35 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: 10 years
_{How long has the management rights existed.}

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

Complex Features: Pool, Entertainment and BBQ facilities, Secure undercover parking, Intercom entry

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 995,000
_{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: 2 bedroom apartment, 2 bathrooms, 2 secure parking spaces, Open plan living, Ample natural light, Ducted air conditioning, Gourmet kitchen, Office on title, Exclusive use storage areas, Great views