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WATERFRONT LIVING OR LIVE OFF SITE
$1,540,000
Permanent Management Rights, MERMAID WATERS QLD
This business presents an excellent opportunity for buyers seeking both lifestyle and potential.
Embrace the best of Mermaid Waters, combining tranquillity with being just minutes from Mermaid Beach, Pacific Fair Shopping Centre, trendy cafes, restaurants, and transport links.
This Gold Coast Management Rights business is set within a secure, residential townhouse community designed with family-friendly living in mind.
A Body Corporate salary of $109,000 p.a. increasing yearly by CPI, provides for a stable income stream against a total Net Profit of $172,000. There is potential to secure up to an additional fifteen townhouses, presently onsite but managed by external agents, and add them to your letting pool. A cooperative committee is backed up by 21 years remaining on Management Agreements.
The accompanying real estate component consists of an affordable, renovated, waterfront, 2-bedroom manager's townhouse situated on one of the best canals in prestigious Mermaid Waters. Currently rented at over $36,000 p.a. which is not included in the total net profit.
The manager' office, held under Occupation Authority, is separate to the manager's residence, which would be advantageous whether you live onsite or offsite. No specific office hours are mandated in the management agreements providing for even further flexibility. The choice is yours as to whether you continue to rent the property or live onsite with both options providing for an attractive work-life balance.
Offering a unique foundation to build your wealth, invest with confidence in this business. It is a must to inspect!
More Information
- Total Purchase Price: $1,540,000
- Net Income: $ 172,925
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 780,000
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?