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the first of three business-only's with another 400+ units under construction | Resort Brokers ID : MRB008606
$3,020,000
Permanent Management Rights, MAROOCHYDORE QLD
ResortBrokers presents to market for the first time the permanent management rights to Market Lane Residences; a truly exceptional business-only opportunity by award-winning developer Habitat. Situated at the centre of the newly established Maroochydore CBD and managed by the developer since inception in mid 2022, Market Lane Residences was the first residential apartment complex established in the CBD.
Market Lane Residences 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 over $520,000 underpinned by a body corporate salary $210,998 per annum, this is an ideal acquisition for an experienced manager and will place the incumbent in a strategic position to secure future rights of the developer's other projects.
The Maroochydore precinct will encompass an incredible 53-ha epicentre, with a masterplan that will deliver a total of 4,000 apartments during the project's estimated 20 year lifecycle. Set to revolutionise the Sunshine Coast, the PDA masterplan will generate 15,000 jobs and includes tenant drivers such as the $100M private hospital currently under construction and 160,000sqm of 5-star green commercial and retail space. And that's just a fraction of what's to come.
- Business-only permanent, modern established complex with no real estate to own
- Incredible central location in the newly emerging Maroochydore city centre masterplan precinct
- Based on 25-year Accommodation module agreements with 23 years remaining
- Strong verified net profit with annual CPIincreases to Body Corporate salary
- 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 under OA
- Scope for growth to revenue through outside agent conversion back to pool
- All inspections by appointment only
Date updated: 11 Feb 2025 22:00:02
More Information
- Total Purchase Price: $3,020,000
- Net Income: $ 521,395
(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