Buy It All OR Just Part - Buyers Choice!

Opportunity to just purchase a component!

Permanent management rights, Norman Park QLD

Wattle Hill, a 40 unit complex in Norma Park, was built 18 years ago and has been very well maintained - presents well!

What's on offer is the manager's 3 bedroom apartment, management & letting rights with a letting pool plus 15 external managements.

A Buyer has the opportunity to purchase everything OR simply purchase a component. This is on the table and my Seller is ready to talk! Ask and we do what we can to advance it! Simple as that!

Here's the breakup in more detail:
Apartment: $1,100,000
Standard Business Net profit: $86,420
Multiplier: Only 3.5x
Standard Business Price: $300,000
External Managements Income: $37,127
Multiplier: Only 2.0x
External Managements Price: $74,000
Total Package: $1,474,000

IF the Manager's Apartment is separated from the business and the Standard Net Profit is sold as a Business Only, the multiplier increases to 4.5x or $390,000.

Note: The details of the initial term, the remaining term plus the September 2025 Five-Year Option are to be confirmed with Hynes Legal acting for the Seller. Details will be upgraded once known.

Happy to discuss any questions or queries on this business and or real estate, just call me on 0407721335.

More Information

Financial Overview

Total Purchase Price: Opportunity to just purchase a component!
Net Income: $ 123,547 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,100,000
_{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: 29
_{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: 40
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 62,295
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 20 years
_{How long is the caretaking contract.}

Agreement Remaining: 15 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 18 years
_{How long has the management rights existed.}

Office Hours: None
_{Required Office Hours}

Complex Features: A modern strata unit complex inner city Brisbane.

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 1,100,000
_{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: Yes
_{Can the manager own a pet on site?}

Unit Features: A three bedroom, 2 bathroom, 2 car apartment having an elevated position and a front courtyard.