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SYDNEY - LARGE SCALE PERMANENT
$2,513,000
Permanent Management Rights, CHATSWOOD NSW
Stratacorp proudly and exclusively offers this prestigious long-term residential Management Rights opportunity and commercial property located in the highly sought-after, leafy north shore suburb of Chatswood, Sydney, just minutes from the Mandarin Centre and Westfield Chatswood Mall as well as a range of internationally renowned attractions and diverse dining options.
The iconic building offers a letting pool of 101 high quality one-, two- and three-bedroom long-stay apartments in the prestigious north shore suburb of Chatswood.
Key highlights:
- Ideal building for a start-up or experienced management couple
- ROI 18%
- Nett operating profit of $458,557 with room for growth by increasing letting pool
- Long term letting pool with 101 units in the pool. A mix of 1 bed, 2 bed and 3 bed units.
- Solid Body Corporate salary of $293,067+gst
- Real estate component of $450,000 consisting of air-conditioned office area. No residential unit to purchase
- Easy to manage/maintain property with healthy sinking fund and supportive Committee ( Owners Corporation)
- Staff wages allowed for in P&L
- No set office hours on agreement. Current office hours: Mon-Fri 8am - 6pm.
Please make contact with Charles Nurse via email or phone to receive a full information pack upon signing of confidentiality agreement.
*Note that the information provided is to the best of our knowledge and understanding based on what is available. Purchaser to carry out their own investigations and due diligence to confirm their direction on proceeding forward with an offer.
More Information
- Total Purchase Price: $2,513,000
- Net Income: $ 458,557
(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: 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?