Management Rights - Stunning Heritage Wool Store Conversion in Teneriffe

$599k MR&$830k Unit = Total $1.429M

Permanent Management Rights, TENERIFFE QLD

Discover the charm and lifestyle of the beautifully restored and heritage-listed Teneriffe Apartments at 241 Arthur Street. Nestled in the vibrant riverside precinct of Teneriffe, this exceptional property offers a fantastic living environment and a lucrative business opportunity for the right manager.

Key Highlights:
No Office Hours: Enjoy flexibility and work-life balance.
Net Profit: $132,541
Business Price: $590k @ 4.52x multiple
Unit Price: $830k
Total Price: $1.429M
Lease Term: 21 years remaining on Accommodation Module

Property Features:
Prime Location: Walk to Brisbane CBD, Brisbane River, exclusive shopping, and fine dining.
Recently Renovated: Freshly painted in neutral colors.
Spacious Layout: 2nd-floor split-level apartment with high ceilings and polished timber floors.
Comfort: Newly carpeted bedrooms, ensuite, air conditioning, and study.
Convenience: Single undercover car park.

Economic Highlights of Teneriffe:
Strong Growth: Teneriffe is one of Brisbane's most sought-after suburbs, known for its robust property market and consistent capital growth.
Lifestyle Hub: A thriving community with trendy cafes, boutique shops, and a lively arts scene, contributing to a high demand for quality accommodation.
Accessibility: Excellent public transport links and proximity to key business districts make Teneriffe an ideal location for professionals and families.

This is a rare opportunity to secure a management rights business in a premier location with potential to increase income. Don't miss outthis opportunity won't last!

**Ras360 Specialists in Management Rights | Motels | Hotels | Pubs | Parks**

More Information

Financial Overview

Total Purchase Price: $599k MR&$830k Unit = Total $1.429M
Net Income: $ 132,541 (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: 23
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 28
_{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: 13
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 66
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 90,693
_{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: 21 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: No
_{Required Office Hours}

Complex Features: Recently painted in neutral colours. Spacious 2nd floor split level apartment featuring high ceilings,polished timber floors, newly carpeted bedrooms, ensuite, aircon and study. Single under cover car park.0