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Lifestyle Living at its Best!
$2,350,000
Permanent management rights, Labrador QLD
Built in 2004 by the Sunland Group this prestigious waterfront residential-only highrise building is located on the Golden Mile at Labrador. It offers 22 levels of luxury living and sleek open spaces with floor to ceiling windows and generous balcony areas to take advantage of the wonderful views over the Broadwater, out to sea, and towards the Surfers Paradise skyline.
Impressive resort-style facilities include 25-metre heated pool, spa, sauna, steam room, fully equipped gymnasium, residents lounge, barbecue area, reflection pool, and community garden. The building is fully secure with boom gates and underground parking.
Stunning managers residence fitted out to the highest standard comprising superb kitchen with integrated appliances, open-plan living area, 2 bedrooms, 2 bathrooms, separate laundry, 2 car spaces and 2 storage cages. There is a large wrap-around courtyard for outdoor living. Absolute quality throughout.
Generous Body Corporate Salary of over $173,000 + GST per annum and Accommodation Module agreements through to April 2049 ensure security of income. Apartments are to an extremely high standard with demand high and vacancies rare. This building is very manageable by a couple so there is ample time to take advantage of the lifestyle on offer with the Broadwater across the road, parks and walking tracks close by, and dining and entertainment options within easy walking distance.
Residential complexes of this calibre are seldom available and the sale of this business creates an incredible opportunity to acquire a permanent management rights business with the benefits of what is undoubtedly a quality building in a sought-after location. If you are seeking a luxurious lifestyle building, this business definitely warrants your inspection.
More Information
- Total Purchase Price: $2,350,000
- Net Income: $ 229,033
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 1,250,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.8
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.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Required Office Hours
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?