Management Rights - HILLCREST, QLD

HILLCREST, QLD

$1,260,000

Property Description

5 YEAR OLD MANAGEMENT RIGHTS, SOUTHSIDE

New listing with RAASRights this Philip Usher built 5 year old complex comprises of 60 townhouses with 54 in the Managers rental pool. 20 of the units are rented under the NRAS scheme. The Vendor has direct control of the NRAS properties by having signed Agreements with the individual owners.
The Body Corporate owns the equipment used in the caretaking of the complex.
This is an ideal business in a quiet location with a reasonable workload easily handled by a 2 person team and still have time for outside interests.
The Vendors have set the business up to run like clock-work and are looking to retire after several years in the industry. A five year top of the Agreements was granted last year extending the term until 2041. Excellent security over your business.
Net income has been provided by Industry Accountant.
If this house and business is what you are looking for an early inspection is recommended.
For more information on this complex please call your RAASRights Broker or Jim Prentice 0412 984 684 or E. jimp@raas.com.au

Walking distance to bus stop.
Close to Browns Plains shopping Plaza and local commercial hub.
Medium-load caretaking duties.
Low maintenance asphalt roadways.
Grassed playing areas for children.
Financial Overview

Body Corp Salary:
$71,593
Anniversary Of Body Corporate Salary:
30th Nov
Body Corporate Salary Review:
CPI
Net Profit:
$161,500
Manager's Unit Price:
$470,000
Management Rights Price:
$790,000
Letting Business

Est. Year Built: 2011
Total Units In Complex: 60


Inside Letting Pool

Permanent: 54
Holiday: 0
Corporate: 0
Total: 54

Outside Letting Pool

Lock Up: 0
Outside Agents: 4
Self Managed: 0
Owner Occpd: 6
Total: 6

Number & Type In Letting Pool
Number Type Features
54 3 Bed Townhouses Air Conditioning, Ceiling fans, Dish washer, BIRobes, Ensuites, SLUG
Tariffs

Booking Type Details
Permanent $345-$360 p/w. NRAS rentals $276-$288 p/w
Corporate N/A
Holiday N/A
Manager's Unit & Office

Manager's Unit Size: 3 Bed
Office Reception: Yes, on title to Manager's residence
Office Software: REIMaster
Office Hours: None specified in Agreements
Storage: Plenty
Office Computer: Yes
Module: Accommodation
Agreement Term: 25
Years To Run: 24
Manager's Unit Description: Free standing townhouse of 3 bedrooms, 2.5 bathrooms, study area with double lockup garage and office. Carpeted and tiled throughout. Open plan living. Large private back yard.

Facilities

Pool: YES
Spa: NO
Gym: Yes
Tennis Court: NO
Sauna: NO
Foxtel: NO
Cable Installed: NO
Pets Allowed: YES
Barbeque Area: YES

Other Facilities: 5 minutes to Grand Plaza mall at Browns Plains and large commercial hub.
Medium load caretaking duties with low maintenance asphalt roadways throughout the complex.
Grassed playing areas for children.

Property Agent

Jim Prentice

Jim Prentice

Phone: 0412 984 684
Office: 1300 282 370

Email Listing Agent