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Solid Permanent and Large Residence in Spring Hill
$1,398,000 ONO
Permanent management rights, Spring Hill QLD
Nett Income $147,771, with Large Manager Residence $600,000, Total Asking for $1,398,000
In a prime location on the top of Spring Hill this business ticks all the boxes whilst providing opportunity to grow the business
Perfectly located complex benefits from quick access to a range of restaurants, shops and entertainment areas, Fortitude Valley, major Brisbane hospitals, Brisbane Convention&Exhibition Centre, RNA Showgrounds, Southbank and Suncorp Stadium.
Close to everything
Only 3 minutes to Roma Street Parklands and St Andrews Hospital
5 minutes walk to Boys and Girls Grammar, Wickham Terrace medical precinct and Queen Street
Bus station is just on the doorstep, also free Inner City Loop bus operates around
Long agreement 24 years left on a 25 years accommodation module
Fantastic Body Corporate salary of $95,204 with annual increase of CPI
Body Corporate very good and supportive to work with
Very well run complex Well established and steady business, all procedures documented
Complex very popular with the tenants
All the BC's hard work has been done, the pool, exterior podium level and the common areas have also undergone a sleek and modern refurbishment and the result is stunning.
Now is the time to reap the rewards!
Modern and spacious manager residence comprises two bedrooms, two bathrooms, large open plan living/lounge/dining room, kitchen, laundry and large storage and two car spaces
Detached office on ground floor
If you want to buy a sustainable&solid income and lifestyle business, it ticks all your boxes, please book your inspection immediately with our NEXT team.
More Information
- Total Purchase Price: $1,398,000 ONO
- Net Income: $ 147,771
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 600,000
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?