Sunshine Coasts Best Permanent

$5,695,000

Permanent management rights, Maroochydore QLD

Key highlights:
High net income suitable for syndicate or family run business
Exceptional body corp salary of $551,028
Long agreements
No requirement to reside onsite
Simple business model with excellent systems in place to run under management
No office hours. No weekend or public holiday duties
Significant upside to grow the business
Current owners average 4 unit sales per year (commission not included in net profit)
2 exclusive use offices

More Information

Financial Overview

Total Purchase Price: $5,695,000
Net Income: $ 803,428 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 695,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 6.2
_{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: 88
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 113
_{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: 30
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 231
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 551,028
_{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: 23 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: Nil
_{Required Office Hours}

Complex Features: 2 pools, spa, BBQ area, well equipped gym, private cinema

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 695,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

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

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: Spacious 2 bedroom, 2 bathroom with a very large courtyard. Total area 215sqm.No requirement to reside onsite. Current rental income \\\\\$675/week not included in net profit