Solid Income, Permanent GEM in South Brisbane
$1,999,720
Permanent management rights, South Brisbane QLD
This is an outstanding opportunity to buy management rights in the ever popular South Brisbane. Close to everything, the complex is at the epicentre of South Brisbane's arts and cultural precinct and adjoining West End's eclectic dining and entertainment hub.
Asking for $1,999,720 in total on MR Business with Net Income $203,421 and well-presented Manager Residence
- Perfectly located in the prestigious heart of South Brisbane, close to all the necessary amenities, only a short walk to South Bank Park, Conference&Exhibition Centre, Museum, Gallery as well as all vibrant and distinctive award-winning dining, shopping, beauty, health&wellbeing precinct and an easy stroll to West End Commercial Street
- Very well run complex, all procedures documented
- Body Corporate very fantastic and supportive to work with
- A great manager remuneration $132,066 with annual adjustment of CPI
- Long agreement 23.5 years left on a 25 years accommodation module
- Modern and well-presented manager residence
- Large two beds and one formal study residence, spacious living/dining area, modern and open plan kitchen, two bathrooms, two carparks with large caged storage, big entertaining yard area
- Well-presented on-title office, no office hour
- There is no requirement on residing onsite, with easy rental of $650 per week
- Located within the Brisbane State High School and West End State School catchment area
- Ideal for a family or semi-retired couple looking for a solid income and great lifestyle
If you want to buy a solid management right business and beautiful lifestyle, it ticks all your boxes, please book your inspection immediately with NEXT team.
More Information
- Total Purchase Price: $1,999,720
- Net Income: $ 203,421
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 820,000
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?