Management Rights - MURRUMBA DOWNS, QLD

MURRUMBA DOWNS, QLD

$1,190,000

Property Description

BIG PRICE REDUCTION - MANAGEMENT RIGHTS

MANAGERS SAY SELL,SELL,SELL. BIG PRICE REDUCTION.Now asking a multiplier on the business from the 2012 era. ALL REASONABLE OFFERS CONSIDERED. Located a short drive away from the Westfield North Lakes mega shopping and commercial hub this home and business still has room to grow. There are just over 65% of the townhouses in the rental pool with a "blue sky" opportunity for the astute Manager. Currently repairs and maintenance along with maintaining of the common areas of the complex are contracted out. The grounds have been finished with low care maintenance in mind, pebbled garden areas and some grass to mow. A swimming pool and covered BBQ area are available for the use of residents.
The popularity of the complex with residents is further enhanced by the closeness to schools, sporting facilities,shopping and access to the Bruce highway. There is a bus stop at the gate and the Moreton Bay rail link to the city is only a 5 minute walk away. The location makes this area a very good catchment locality for tenants looking to enjoy that quiet and comfortable property to rent.
There are 11 NRAS (National Rental Affordability Scheme) units in the complex that are controlled by the NRAS Provider Company. The on-site manager has no input to these 11 units but the potential for these units to come into the On-site manager's rental pool at the completion of the 10 year life span of NRAS could make for some blue sky opportunity to add to your rental pool.
The Vendor has agreed to apply to the Body Corporate for a top up of the Agreements back to 20 years prior to settlement. If you think this complex might meet with your criteria please call Jim Prentice 0412 984 684 or E jimp@raas.com.au to make an appointment to inspect or obtain further information. This just might be the sale of the year.

Swimming pool and barbeque.
5 year old complex. Low Body Corporate levies.
Current Manager chooses to employ contractors for cleaning, repairs/maintenance and common property work. Income up side here.
Bus stop at the gate. New rail corridor with train station a few minutes walk.
Westfield North Lakes mega mall a 5 minute commute by car.
Financial Overview

Body Corp Salary:
$85,293
Anniversary Of Body Corporate Salary:
1st Jun
Body Corporate Salary Review:
CPI
Net Profit:
$175,000
Manager's Unit Price:
$355,000
Management Rights Price:
$835,000
Letting Business

Est. Year Built: 2011
Total Units In Complex: 75


Inside Letting Pool

Permanent: 49
Holiday: 0
Corporate: 0
Total: 49

Outside Letting Pool

Lock Up: 0
Outside Agents: 13
Self Managed: 0
Owner Occpd: 13
Total: 26

Number & Type In Letting Pool
Number Type Features
49 3 Bed Townhouses Air Con, Dishwasher, Ensuite, Fans,Built-in robes, SLUG
Tariffs

Booking Type Details
Permanent $340-$65 p/w
Corporate
Holiday
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 Body Corporate Agreements
Storage: Plenty
Office Computer: Yes
Module: Accommodation
Agreement Term: 20
Years To Run: 16
Manager's Unit Description: Townhouse with office attached. Two bedrooms & bathroom upstairs, main bedroom & ensuite on ground floor. Air conditioned throughout. Single lockup garage & extra parking space. Fully fenced in back yard with water storage tank and shed.

Facilities

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

Other Facilities: Swimming pool and barbeque.
5 year old complex. Low Body Corporate levies.
Current Manager chooses to employ contractors for cleaning, repairs/maintenance and common property work. Income up side here if new Manager wishes to handle.
Bus stop at the gate. New Redcliffe/City rail corridor with train station a few minutes walk.
Westfield North Lakes mega mall a 5 minute commute by car.

Property Agent

Jim Prentice

Jim Prentice

Phone: 0412 984 684
Office: 1300 282 370

Email Listing Agent