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SOLID BUSINESS - GREAT LIVING ENVIRONMENT
$1,075,000
Permanent Management Rights, CORNUBIA QLD
On offer is a high quality 76 lot residential townhouse complex located in the growing suburb of Cornubia, approximately 40 minute's drive from both Brisbane and the Gold Coast. Secure living and peace of mind for residents is provided by a 24-hour staffed security service throughout the estate.
Of huge benefit to the onsite manager of this business, is there are no caretaking responsibilities for the extensive recreational facilities and open spaces available to residents within the grounds of the greater estate.
Representing a separate community management scheme within a larger estate, the lot owners contribute levies for maintenance of the entire estate allowing residents to freely enjoy a swimming pool, BBQ areas, function room, tennis courts, playground and parkland. Enticingly, the complex also borders a magnificent 18-hole golf course.
This is a straightforward management rights operation with manageable duties, providing the opportunity to live and work within a safe, secure and very pleasant environment with superb recreational facilities.
The manager's home is a 3 bed, 2.5 bath, single garage townhouse with office attached. There are no set office hours.
The business is supported by a solid Body Corporate salary of $103,000. This income represents over 80% of Net Profit totalling $125,000. Fresh 10-year management agreements (Standard Module) will be guaranteed at settlement.
Sellers are genuinely motivated to move onto new opportunities and have priced the business at a 3.6 multiplier. Serious offers will be considered.
Business $455,000
Property $620,000
More Information
- Total Purchase Price: $1,075,000
- Net Income: $ 125,144
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 620,000
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?