LIVE OFFSITE - $458K NET PROFIT

$3,990,000

Permanent Management Rights, GRIFFIN QLD

For sale now, is the residential Management Rights business encompassing two adjoining modern townhouse developments, conveniently located just 25 minutes north of Brisbane's CBD.

With a sizable rental pool of 80 townhouses, the business also enjoys a handsome Body Corporate Salary of $266,000 p.a. (ex-GST) which equates to near 60% of total annual net profit.

This business would suit an experienced and initiative-taking couple or business partners who would have an opportunity to strategically grow and improve the business.

The business currently operates under management with the business owner residing off-site. Real Estate component of the business is comprised of one townhouse within each of the two complexes. Each townhouse has 3-bedrooms, 2-bathrooms, 2 car spaces and offices attached.

The estates are superbly located, adjacent to an abundance of parkland, near public transport, schools, shopping centres, and various amenities. Just minutes away from Westfield Northlakes, IKEA, Costco, Events Cinema, and an excellent array of dining precincts.

Seize this grand opportunity now and reap the potential financial rewards for your sharp business strategies.

More Information

Financial Overview

Total Purchase Price: $3,990,000
Net Income: $ 458,372 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,380,000
_{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.}

Letting Business

Letting Pool: 80
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{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: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

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

Caretaking

Remuneration: $ 266,896
_{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: 20 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: none stated
_{Required Office Hours}

Complex Features:

Real Estate Component

Manager's Unit: 6 4

Included Real Estate: $ 1,380,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 4

Office On Title: 0
_{Is there a manager's office included on the title?}

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

Unit Features: