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Exceptional Opportunity
$2,350,000
Corporate management rights, Cairns City QLD
Exceptional commercial complex trading as Cairns Night Markets.
Interesting and diverse entertainment for all and a must do for visitors to Cairns.
Extremely high foot traffic 2.7 million per year.
Perfect Esplanade location with a variety of 131 shops including 13 food outlets with seating for 200.
The complex is essentially structured as Management Rights but with fewer restrictions.
Involves admin duties only.
Excellent security of tenure with a Perpetual Term on the Body Corporate Agreements.
Remarkably stable business with low shop vacancy rates and lease terms of 12 months minimum.
Income is from Management and Marketing fees paid by Owner Occupiers and Tenants alike.
Very stable commercial business showing excellent and consistent growth.
Good salary of $120,910 excluding GST.
Office on title plus two exclusive use carparks and on site storage .
Can be operated by one person with ease.
No check-ins, no gardening, no set office hours.
The Cleaning & Security roles currently undertaken by the Body Corporate, can be taken back as the Managers responsibility with the benefit of an additonal approx. $100k to the net profit if required.
For detailed information on this property please contact Calvin Bailey.
More Information
- Total Purchase Price: $2,350,000
- Net Income: $ 472,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 450,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.0
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?