First time to market in over a decade! Easy-care high net profit permanent MLR | Resort Brokers ID : MR008423

$4,630,000

Permanent Management Rights, Varsity Lakes QLD

ResortBrokers exclusively presents the management rights to a well-established permanent apartment building complex in Gold Coast's highly popular neighbourhood of Varsity Lakes, only minutes to Robina Town Centre and Bond University. For the first time to market as an established business this complex is truly impressive offering steady high net profit and excellent return on investment along with over 24 years remaining on the agreements stipulating long-term security. The property is easy to manage, with minimal duties and facilities, making it an ideal choice for those seeking a manageable investment.

- No set office hours
- Over 24 years remaining on agreements, providing long-term investment security
- Impressive net profit supported by a substantial body corporate salary
- P&L prepared by professional industry accountant
- All permanent letting - consistant 100% occupancy
- One body corporate - very supportive committees
- Minimal duties and facilities, ensuring easy management
- Manager's Lot includes a spacious three-bedroom residence plus office - $700k
- Lucrative financial opportunity with strong return on investment
- Prime location - proximity to Robina Town Centre and Bond University
- Inspection by appointment only
Date updated: 18 Dec 2024 22:00:02

More Information

Financial Overview

Total Purchase Price: $4,630,000
Net Income: $ 626,578 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 700,000
_{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: 108
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{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: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 135
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 283,320
_{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: 24 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: Required Office Hours
_{Required Office Hours}

Complex Features: Varsity Apartments on Main is in close proximity not only to the university, but also to a wide selection of International&Australian cuisine, cinemaâs, cafeâs, entertainment venues as well as world class golfing&shopping destinations. Gym, Pool, Laundry Furnished one, two and three bedroom apartment