EXCEPTIONAL MLR BUSINESS WITH $578K NET PROFIT | Resort Brokers ID : MRB007838
$3.050m BUS&$745K RE
Permanent Management Rights, GLEN WAVERLEY VIC
ResortBrokers exclusively presents to market the established Facilities Management and Letting Rights to Sky Garden. A superbly designed three tower complex in Glen Waverley. This large business offers incoming operators a substantial salary with a net profit in excess of $570K and plenty of upside potential by bringing back external lets into the on-site pool.
- Large scale, high quality complex delivered in late 2020
- 536 apartments with 134 in the permanent letting pool
- Good upside opportunity to convert outside agents
- Owner's Corporation salary c. $330K
- Long 23 year tenure remaining on FM& Letting Agreements
- Located 25 minutes from Melbourne CBD
- Excellent operational areas including offices and multiple storage areas
- Residential apartments available to purchase if desired
- Separate Concierge Agreement on 3/3/3 year term
- On-site pool, gym, steam room, day spa rooms, library, meeting rooms, private dining rooms.
- All inspections by Appointment Only
Date updated: 21 Apr 2024 23:00:04
More Information
- Total Purchase Price: $3.050m BUS&$745K RE
- Net Income: $ 578,574
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 745,000
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?