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NO NEED TO LIVE ON-SITE - PLENTY OF POTENTIAL
$2,960,000
Permanent Management Rights, TENERIFFE QLD
This premium residential Brisbane Management Rights business offers so much and yet has more to give!
Highlights are:
-22 years remain on Management Agreements
-Net profit $350,000
-Including Body Corporate Salary $262,000
-Manager's apartment is leased out for over $28,000 p.a. (excluded from above income)
-Office on separate Title
-No office hours stated
-No requirement to live on-site
-Significant potential to bring onboard up to an additional 81 apartments into your onsite letting pool.
Businesses of this calibre, with yet so much more to offer, in terms of potential income gains are indeed rare. Savvy business operators will find the purchase of this business, value for money, financially rewarding and lucrative.
The Manager's residence is a roomy and modern 3-bedroom, 1-bathroom 2-car apartment. Onsite office is on a separate title. Ownership of 2 lots provides the manager with corresponding 2 votes at general meetings.
Onsite pool, BBQ and gardens are enjoyed by residents. As are scenic strolls along the Brisbane River boardwalk to Newstead, New Farm Park, Brisbane Powerhouse, weekly markets, and beyond. Teneriffe ferry terminal is a stones though away. Soak in Teneriffe's cafes, restaurants and bars. Shopping and entertainment await at nearby Gasworks, James Street and Howard Smith Wharves. Brisbane's CBD is only 3 km away.
Do not miss this business opportunity! Contact me now.
More Information
- Total Purchase Price: $2,960,000
- Net Income: $ 350,353
()
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 990,000
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?