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First time to market - Prestigious Permanent MR - 200m stride to the Gabba! | Resort Brokers ID : MR007966
$3.073m + $680+K
Permanent Management Rights, WOOLLOONGABBA QLD
This is the first time ever to secure the management rights and associated real estate to Trafalgar Lane, a high-rise complex developed by the award-winning Pellicano Group. Located literally over the road from Brisbane's infamous 'Gabba' Stadium this property boasts a rooftop recreation area with incredible views of all events held in the stadium. ResortBrokers bring this exclusive business to market for the first time, as it has been run by the developer since inception. With a high net profit circa. $470,000, this well-established business is an excellent investment choice for any experienced operator to consider.
- Promient position on Stanley Street, opposite The Gabba Stadium
- Towering high-rise apartment complex comprising 147 units
- Current on-site letting pool comprising 98 apartments
- Independently verified by industry accountant net profit of $472,821 p.a.
- Body Corporate salary of $223,166 representing 52% of the net profit
- Ground floor lobby and reception, plus back office and operating spaces under OA
- Level 6 - recreational area with yoga and sun lawn, spa, pool, gym, recreation lounge and media room
- No set office hours, reception is currently operating between 8am to 4pm
- Manager is required to live on-site
- Level 10 - 3 bedroom, 2 bathroom manager's apartment forms part of the business sale
- 18 years remaining on Caretaking and Letting Agreements
- All inspections by appointment
Date updated: 01 Dec 2024 22:00:02
More Information
- Total Purchase Price: $3.073m + $680+K
- Net Income: $ 472,821
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 680,000
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?