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PRESTIGIOUS BUSINESS-ONLY MLR IN MAROOCHYDORE'S EMERGING CITY CENTRE PRECINCT | Resort Brokers ID : MRB008468
$3,171,600
Permanent Management Rights, MAROOCHYDORE QLD
Offered to market for the first time, the management rights of Market Lane Residences presents an exceptional business opportunity for experienced operators. The project is situated at the centre of Maroochydore CBD which will be encompassed in an incredible 53-ha epicentre, set to revolutionise the Sunshine Coast.
Managed by the developer since it opened in mid 2022, Market Lane Residences was the first residential apartment complex to be established in the CBD. It comprises 152 units and enjoys a prime position to attract tenants given its proximity to the new city centre, hospital and commercial precinct. With a strong net profit, this business-only management rights is ideal for sophisticated operators to take on and puts them at the forefront for future MLR opportunities already secured with this developer.
The PDA masterplan will deliver a total of 4,000 apartments, create 15,000 jobs during the project lifecycle of up to 20 years and includes tenant drivers such as the $100M private hospital currently under construction and 160,000 sqm of 5-star green commercial and retail space. And that's just a fraction of what's to come.
Incredible prime location in the newly developing Maroochydore city centre masterplan precinct
25-year Accommodation module agreements with 23 years remaining
Strong verified net profit with annual CPIincreases
Strong body corporate salary
Business-only permanent, established complex with no real estate to own
No set office hours and no requirement to live onsite
146 units& 6 terrace units in the complex with 77 units in the letting pool
Facilities include pool, rooftop terrace, dining room and BBQ area
Prime location for high tenancy demand near beach and city
Expertly run with efficient operational spaces— reception / storage / back office
Scope for growth to revenue through outside agent conversion back to pool
All inspections by appointment only
Date updated: 13 Nov 2024 10:49:09
More Information
- Total Purchase Price: $3,171,600
- Net Income: $ 519,938
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
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