Management Rights - NORTH LAKES, QLD

NORTH LAKES, QLD

$1,578,400

Property Description

OUTSTANDING OPPORTUNITY AVAILABLE NOW!!

This Complex combines the convenience of apartment living with outdoor green space and includes a mixture of low maintenance gardens and grassed areas for residents to enjoy, making it one of the most desirable complexes in North Lakes.

The complex boasts 88 apartments with residents ranging a mixture of young professionals working in and around the suburb of North Lakes to retired couples who find the convenience of Westfield shopping centre and close by medical services an added advantage.

The complex is also adjoined by 12 commercial offices including a café at the front of the complex increasing demand for residence within the complex. The current managers have been the caretakers and property manager for this delightful complex since 2015 and involved with the development and direction since early 2014.

Managers Unit $385,000
Management Rights Business $1,193,400
Total Asking Price $1,578,400
Net Profit $234,000.00 as Verified By Industry Accountants

Should you require further information on this outstanding Complex please do not hesitate to Mike Mallory on 0409 494 098 or email mikem@raas.com.au
Financial Overview

Body Corp Salary:
Combined $114,622
Anniversary Of Body Corporate Salary:
N/A
Body Corporate Salary Review:
Net Profit:
$234,000
Manager's Unit Price:
$385,000
Management Rights Price:
$1,193,400
Letting Business

Est. Year Built: 2015
Total Units In Complex: 88


Inside Letting Pool

Permanent: 64
Holiday: 0
Corporate: 0
Total: 64

Outside Letting Pool

Lock Up: 0
Outside Agents: 12
Self Managed: 0
Owner Occpd: 12
Total: 24

Number & Type In Letting Pool
Number Type Features
21 1 Bed Apartment
38 2 Bed Apartment
5 3 Bed Apartment
Tariffs

Booking Type Details
Permanent
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 3 Bed
Office Reception: On Title
Office Software:
Office Hours: None Specified
Storage: yes
Office Computer:
Module: Accommodation
Agreement Term: 25
Years To Run: 24
Manager's Unit Description:

Facilities

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

Other Facilities:

Property Agent

Mike Mallory

Mike Mallory

Phone: 0409 494 098
Office: 1300 282 370

Email Listing Agent