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Management Rights ... Fairway Terraces in Pimpama
$2.14M MR&$800k Unit = Total $2.94M
Permanent Management Rights, PIMPAMA QLD
Discover an exceptional management rights opportunity at Fairway Terraces, a modern, well-maintained complex in the thriving suburb of Pimpama. Located at 188 Gainsborough Drive, this vibrant community boasts 104 three-bedroom townhouses, with 96 in the letting pool for permanent rental. The complex is ideally positioned close to local shops, schools, parks, and public transport, offering both convenience and lifestyle appeal.
Pimpama is one of the fastest-growing regions in Southeast Queensland, perfectly situated between Brisbane and the Gold Coast. With a mix of urban development and green spaces, it offers a family-friendly environment with access to new infrastructure, including schools, shopping centers, and recreational facilities. The area's rapid growth makes it a prime location for residential investment and strong rental demand.
The business operates under a 25-year Management Agreement that commenced on March 25, 2021, with no set reception hours. A 2-person management team efficiently runs the operations, supported by Body Corporate Remuneration currently at $134,725 per annum plus GST, increasing annually in line with CPI. Unit 1 serves as the manager's residence consisting of 4 bedrooms, 2 living areas, 2 offices, a 2-car garage (plus 2 additional driveway spaces), a backyard, and an undercover courtyard. It boasts a North-facing aspect overlooking BimBimba Park. The lot spans 414sqm, with an internal floor area of 260sqm. Plans for the Managers unit, which is generously sized is available upon enquiry.
For the 12-month period ending August 31, 2024, the net operating profit was $410,152, with no material discrepancies found in the vendor's records. This well-established complex offers a lucrative, secure, and lifestyle-friendly business in a rapidly growing location.
**Ras360 Specialists in Management Rights | Motels | Hotels | Pubs | Parks**
More Information
- Total Purchase Price: $2.14M MR&$800k Unit = Total $2.94M
- Net Income: $ 410,152
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 800,000
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.
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?