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BRISBANE CITY OASIS - SUIT FIRST TIME BUYER
$1,167,500
Permanent Management Rights, SPRING HILL QLD
Here is your opportunity to acquire this fantastic boutique Brisbane Management Rights business.
This quiet, tropically landscaped, residential complex sits within the charming inner-city suburb of Spring Hill. Your very own oasis on the fringe of the CBD.
Managing this well-presented building featuring a resort style pool and secure parking would be well suited to a buyer new to this industry.
Coveted by eager prospective tenants wishing to reside in such an attractive and convenient location, there are always excellent rental applications to ensure you maintain a quality letting pool.
Presently, the Body Corporate Salary sits at $70,000 p.a. plus GST. This represents 60% of Net Profit and provides for long term security for the resident manager. Additionally, there is an exciting opportunity to bring on board a further seven apartments into the letting pool currently held by external agents. This would increase handsomely your profit results!
With a solid 22 years remaining on the Management Agreements, this is the icing on the cake for those buyers looking to secure their first business in the Management Rights industry.
Your manager's onsite residence will be a homely, 2-bedroom, 1-bathroom, 1- car apartment with office attached and on the same title.
Several top private schools are located near Spring Hill, including St Joseph's College, IES College, Brisbane Girls Grammar, Brisbane Grammar, St Peters Lutheran College, and St James College.
And with even more to look forward to, the new 63,000 seat stadium to be built for the 2032 Olympic Games, in Victoria Park will only be 2 km away. Existing and profitable times!
Enjoy the ambiance and lifestyle opportunities of Spring Hill or stroll to the CBD. The world is your oyster.
More Information
- Total Purchase Price: $1,167,500
- Net Income: $ 115,000
()
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 650,000
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?