ICONIC MERMAID WATERS RESIDENTIAL MLR NETTING OVER $550K | Resort Brokers ID : MRB008474

$3,710,000

Permanent Management Rights, MERMAID WATERS QLD

This is an exclusive and exceptional business-only management rights opportunity not to be overlooked! Elegant, iconic and elite, The Lanes Residences in Mermaid Waters, consists of four towers boasting 307 apartments and forms part of a 42ha master-planned waterside community with luxury residential facilities and extensive retail village plus a further 2000+ dwellings in the delivery pipeline over the next 5 years.

These permanent buildings are fully operational and provide superb security for incoming owners with a net profit of $550K+ underpinned by a body corporate salary of $399K and long tenure remaining on agreements. By securing the management rights to The Lanes it positions a sophisticated operator perfectly to provide a solution to the future evolution of this iconic precinct.

- Fully established, The Lanes Residences is an iconic four-tower residential development recently delivered by the Sunland Group
- Delivering an excellent net profit of $550K+ per annum underpinned by a Body Corporate salary representing 72% of income
- Business-only setup with no real estate to own, and no obligation to live on-site delivering a robust ROI
- Based on 25-year accommodation module agreements with 23 and 24 years remaining
- Governed by only two Body Corporate schemes, the four buildings comprise a total of 307 apartments
- Offers a broad mix of 1, 2, and 3 bedroom apartments
- Permanent letting pool of 39 units with 48 external managements providing genuine upside opportunity
- East Village hosts 150 units and West Village 157 units
- Exceptional shared facilities include swimming pools, lounge areas, gym and sauna
- Operational spaces under OA include reception and back office, with several storage areas
- Genuine opportunity to secure an iconic asset in a 5-year master plan community, located in the heart of Mermaid Waters
- All inspections by appointment only

Date updated: 19 Nov 2024 22:00:01

More Information

Financial Overview

Total Purchase Price: $3,710,000
Net Income: $ 550,141 (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: 39
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 220
_{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: 48
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 307
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 399,000
_{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: 25 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: Contactable onsite 8.30am to 5pm Mon-Fri
_{Required Office Hours}

Complex Features: East Village (Towers 1&2) 1x Pool, shared between the 2 towers 1x Gym, shared between the 2 towers 1x Sauna, shared between the 2 towers 1x Residents Lounge / Function Room, shared between the 2 towers West Village (Towers 3&4) 1x Pool, shared between the 2 towers 1x Gym, shared between the 2 towers 1x Sauna, shared between the 2 towers 1x Residents Lounge / Function Room, shared between the 2 towers