Outstanding Value Managing Partner Share For Sale - asking $1,599,000

Managing Partner Share only

Permanent management rights, Surfers Paradise QLD

This exquisite property management rights partnership (only the managing partner share for sale) is available to the qualified buyers, who value a caretaking business with a manageable permanent letting pool in the stunning high rise building with the best views, facilities and location on the Gold Coast. If you are looking for a greater caretaking business and mostly supervisory role, this one is for you. The active manager share is to be discussed in person with the interested parties and all the details of the partnership will be disclosed after an NDA is signed. The very comfortable and spacious managers' apartment is hard to find and can benefit a larger family. The convenient location enhances the attractiveness of this business share. The silent partners are in place and experienced. We are looking to find the right active manager so we can move on after 10 years in this role. The financials of the shareholding in proportion within the Partnership P&L will be discussed in detail with the interested and qualified buyers.

More Information

Financial Overview

Total Purchase Price: Managing Partner Share only
Net Income: $ 447,270 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,750,000
_{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.}

Letting Business

Letting Pool: 15
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 136
_{Number of units resided in by their owners.}

Lock Ups: 35
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 8
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 194
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 472,163
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 10 years
_{How long is the caretaking contract.}

Agreement Remaining: 10 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 34 years
_{How long has the management rights existed.}

Office Hours: 8:30 am to 5:00 pm
_{Required Office Hours}

Complex Features: This property management business active managers share for sale is located at one of the best sought-after, high-rise buildings on the Coast - just minutes from Surfers Paradise and Main Beach. It has uninterrupted views towards East, West, South and North. Surrounded by parks and being only 5 minutes walking distance from the beach. This property is a very rare find in the industry and is reasonably priced to sell. Conveniently located at a very short stroll to the Light Rail stop, it claims one of the best locations on the Gold Coast. The building prides itself with the best outside lagoon pool area, indoor pools, spas, sauna, steam room, cold plunger pool, tennis courts, Marina Berths, piano bar, club lounge and 4 BBQ areas. This beautiful high-rise building is one of a kind and is classed as a luxury resort, but is privately owned residence, no holiday or short-term letting. The permanent letting apartments leases with exquisite tenancies are in place on a long-term basis.

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 1,750,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: Managers unit includes a very spacious 3 bedrooms residence with two bathrooms and 2 individually standing, car parks. Reception, with the two adjacent offices on the ground floor plus the two additional spacious offices on the first floor are all on the title. With the amount of office space available, the business can thrive into units sales and add value to the active manager bottom line and respectively increase the profitability of the active onsite manager. This property is a very rare find in the industry and is reasonably priced to sell.