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BRISBANE CITY-FRINGE MANAGEMENT RIGHTS WITH NET PROFIT $635,000+ | Resort Brokers ID : MR008528
$4,745,000
Permanent Management Rights, Bowen Hills QLD
Chelsea Apartments in Bowen Hills offers the opportunity to secure a stable and efficiently run management rights business that is fully established and underpinned Caretaking and Letting agreements with full 25-year tenure and BC salary. The business also benefits from strong BC salary of c. $335,000, representing more than 50% of annual net profit. The two-tower permanent complex comprises 197 apartments in total with 100 managed in the onsite letting pool.
- A high-yielding asset attractive to syndicators and corporates
- Strong BC / committee relationship with full 25-year tenure to agreements
- Features a well-presented, clean Profit& Loss statement with sufficient wage allocation
- Permanent complex with quality facilities including pool and gym
- Comprises a total of 198 apartments over two towers with 100 in the on-site letting pool
- Good scope to grow unit sale business, given scale of complex and location of office.
- Located in Bowen Hills, a sought-after inner-city fringe suburb, close to all amenity
- Potential for significant growth via outside agent conversion back into the letting pool
- 2 bed, 2 bath managers’ residence requirement to own and live on-site - $595,000
- Reception/office under OA is located between the two towers and 42sqm storage in basement
- All inspections by appointment only
Date updated: 15 Dec 2024 22:00:04
More Information
- Total Purchase Price: $4,745,000
- Net Income: $ 638,362
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 595,000
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?