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OPTION TO LIVE OFF SITE - 24 YEAR AGREEMENT
$1,760,000
Permanent Management Rights, BURPENGARY QLD
Secure this solid Management Rights business, now for sale.
Current owners have enjoyed excellent financial returns and a stable business over the last six years.
This well-maintained residential complex offers versatility for the businesses management team amidst a relaxed living environment and resort-style amenities. A great place to enjoy family life!
Body Corporate presently allows an approved nominee to reside on-site within the manager's residence. This being a 3-bedroom, 2-bathroom, low set standalone villa, complete with double lock up garage and office attached.
Financially the business presents well, with an annual Body Corporate salary, increasing yearly by CPI, of $155,000 plus GST, within a total Net Profit of $259,000 p.a. The Management Agreements have recently been topped up and therefore in excess of 24 years remain on contracts.
Centrally located in the heart of Burpengary, this complex is just moments from Burpengary Plaza, local primary and secondary schools, public transport, and a range of dining and takeaway options. A short drive to Westfield North Lakes, IKEA, Costco, and Narangba Valley Tavern. Enjoy easy access to the Bruce Highway, with Brisbane CBD only 40 minutes away, the Sunshine Coast reachable in under 50 minutes, and Redcliffe's waterfront lifestyle just 25 minutes from your door.
Invest in this business and enjoy the benefits of inheriting a well-run complex, a great return on your investment and a supportive Body Corporate committee.
More Information
- Total Purchase Price: $1,760,000
- Net Income: $ 259,280
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 700,000
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?