TWO NEIGHBOURING PERMANENT COMPLEXES IN BRISBANE'S INNER NORTHSIDE | Resort Brokers ID : MR008095
$3,091,850
Permanent Management Rights, Chermside QLD
A ResortBrokers Special! This is a fantastic duo of management and letting rights complexes located right next to each other. Estilo on Kittyhawk is a fully established business whilst its neighbour Estilo on the Park presents as an off the plan opportunity that is currently well-progressed under construction. Our developer/vendor is looking to sell both assets in one transaction so that the successful party can reap the benefits of a larger scale business that comes with a net profit in excess of $580,000.
Highlights of the Combined Offering
- Both on 25 year Accommodation module agreements
- High net profit of $583,368
- Total of 238 apartments + 4 commercial lots
- Combined Body Corporate salary of $387,793 p.a.
- No set office hours and manageable duties
Established Complex
- Developed and run under management by Gardner Vaughan Group
- 116 apartments with 47 in letting pool
- 21 years remaining on 25 year Accommodation module agreements
- 16m2 office on ground level of building 1 (east)
- Manager required to reside on-site - option to rent or buy a unit
Off the plan Complex
- Under construction with Stage 1 due to complete in Q3 2024
- No requirement to live onsite or own a lot
- Manager's 9sqm office on mezzanine level and storage under OA
- 100 of 122 units already sold and construction well-progressed
- Level 1 pool, function room and rooftop with kitchen& deck, gym.
All inspections by appointment only Date updated: 28 Apr 2024 23:00:05
More Information
- Total Purchase Price: $3,091,850
- Net Income: $ 583,368
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 899,000
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?