Permanent Management Rights - 24 Years Remaining - Strong Net Profit | Resort Brokers ID : MR008913

$833,000

Permanent Management Rights, Townsville City QLD

ResortBrokers presents the caretaking and letting business of Riverway Point, a modern low-rise apartment complex in one of Townsvilles most sought-after suburbs.

This opportunity boasts long agreement terms of 24 years, providing security and peace of mind for the incoming operator. The complex comprises 70 units and is underpinned by a solid body corporate salary. With 17 units currently under outside agents, there is genuine potential to lift net profit by winning back appointments under new management.

The affordable managers unit, priced at just $350,000, offers exceptional value where else can you purchase a modern two-bedroom, two-bathroom apartment at this price point? The residence features open-plan living, modern appliances, a covered private patio, air conditioning, and secure undercover parking.

Riverway Point is a secure gated complex, ideally located near major arterial roads, sporting facilities, shops, and restaurants. The three-story walk-up design requires no lift maintenance and includes a separate office, swimming pool, and barbecue area.

This caretaking and letting business represents excellent value, supported by a fair business multiplier and attractive return on investment. Situated in a high-demand rental area, it offers flexible working conditions, scope to grow income, and a lifestyle opportunity in a thriving regional centre.

- Secured by an extensive 24-year agreement term
- Secured by a stong Body Corporate Salary of $96,809
- Effecient threes-storey structure with nolift maintenance required
- Strategically positioned near key transport routes, sports facilities, retail outlets, and eateries
- Enhanced security with a gated entry system
- Profitable permanent complex in a prime rental location
- Opporuntiy to win back 17 external letting appoitments
- Inspection by appointment only
Date updated: 25 Sep 2025 23:00:01

More Information

Financial Overview

Total Purchase Price: $833,000
Net Income: $ 156,573 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 350,000
_{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: 28
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 24
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 17
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 70
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 96,808
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 25 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: Mon - Fri 8 am - 5pm
_{Required Office Hours}

Complex Features: Modern low rise apartment complex situated in the southern region of Townsville, North Queensland. Common facilities include; onsite management, swimming pool, barbeque area and onsite visitor carparking. The complex comprises of 57 x two bedroom units, 12 x three bedroom units, 1 x Manager's Unit and a total of 70 residential lots.

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 350,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

Office On Title: 0
_{Is there a manager's office included on the title?}

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

Unit Features: Two bedrooms, two bathrooms, open plan living area, modern appliances and stylish bench tops, covered private patio area, air-conditioning and secure undercover parking. A separate office located on site of the complex