Permanent Complex, Whitsunday $155,207 Salary

$935,000

Permanent management rights, Cannonvale QLD

This permanent complex Management Rights business is in the popular coastal town of Cannonvale/Arlie Beach in the Whitsundays.
It presents an attractive opportunity for various types of buyers, easily run by a couple and room for growth.
A ready-made business in a fantastic area.

It is one of the few PERMANENT complexes in the region with 90 units in a gated complex, relatively simple to look after, garden, lawns, and a pool to maintain.

This easily manageable business is underpinned by 21-year Caretaking and Letting Agreements backed by a supportive Body Corporate Committee.
High demand for permanent accommodation and great opportunity to grow the letting pool.

Total of 90 Units, 24 units in the Letting pool
Long Caretaking and Letting Agreements with 21 years remaining
Generous Body Corporate salary of $155,207
Net profit of $196,045
Income from rental with scope to grow letting pool
Supportive Body Corporate Committee
Perfect work/life balance, with no set office hours
Easily manageable caretaking duties
Highly desirable location for rentals
Opportunity to earn extra income through repairs, maintenance, and renovations
Walking distance from Shopping Centre, beach, and public transport
Excellent training and handover from the vendor
Managers unit Air conditioned 3 bed 2 bath plus office on title

TOTAL NUMBER OF UNITS : 90
UNITS IN LETTING POOL : 24
MANAGER'S RESIDENCE : 3 bed, 2 bath plus office on title

Net Profit : $196,045
Managers Unit : $280,000
Management Rights : $655,000
Total Asking Price : $935,000

More Information

Financial Overview

Total Purchase Price: $935,000
Net Income: $ 196,045 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 280,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 3.3
_{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.}

Letting Business

Letting Pool: 24
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 37
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 29
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 90
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 155,207
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 21 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: No set office hours
_{Required Office Hours}

Complex Features: Swimming pool, Gated community, CCTV

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 280,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: 3 bedroom 2 bathroom, separate laundry, ceiling fans, air conditioned, direct access to office 2 under cover parking spaces and office