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BRISBANE CBD PERMANENT MANAGEMENT RIGHTS WITH NET OVER $600,000 | Resort Brokers ID : MR008509
$4,985,000
Resort / Holiday Management Rights, BRISBANE CITY QLD
The management rights to Vue Apartments will be a coveted acquisition from any experienced manager ready to pounce on this rare opportunity. This permanent management rights is fully established and enjoys a healthy net profit over $600,000 underpinned by the strong body corporate salary which accounts for more than 54% of the core income.
Vue Apartments is a landmark building located overlooking the Brisbane river on Quay Street, a short stroll into the central Brisbane district. Superbly placed for long-term tenancy, it offers both furnished and unfurnished apartments with 100% occupancy due to the prime position and convenience to both South Bank and the city.
- Recently topped up agreements with over 21 years remaining
- Total of 186 apartments with 72 units in the onsite letting pool + 5 external lots being sold with the business
- Body Corporate salary of $327,680 per annum, increases inline with CPI annually
- Net profit of $604,780& external letting income of $16,079
- Currently operated by a two-person management team
- Requirement for manageror norminee to live on-site
- Freehold title operational areas include a reception& office - $200K
- Manager's 3 bed, 2 bath unit with 155sqm floorplan - $750K
- Facilities include pool, spa, sauna, and gym
- Easy access to motorway andInner CityBypass
- Shortwalk toCityCatferry,trainor bus
- Few minutes’driveto elite private schools (BGS and BGGS) and University.
- Walking distance to South Bank and CBD entertainment district.
- All inspections by appointment only
Date updated: 06 Nov 2024 10:52:22
More Information
- Total Purchase Price: $4,985,000
- Net Income: $ 620,859
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 950,000
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.
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
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?