Management Rights - Teneriffe, QLD

Teneriffe, QLD

$2,284,000

Property Description

Salary Review: the greater of CPI or 5% on $177 925.

A package deal located in the heart of Teneriffe, and, every convenience within walking distance. This business opportunity consists of: two Prestige contiguous buildings; and the caretaking and letting of a small neighbouring building. There is one managers' apartment required as part of the Caretaking Agreement to be purchased. The Managers Apartment price $700,000 and business package price $1,584,000. Included with the generous incomes from the contiguous Management Rights buildings is the caretaking income of $15,000 plus letting fees from the small neigbouring building. A second apartment is available for sale at $650,000, however, it is not included in the Total Package Price $2,284,000.

Aesthetics and environment coalesce, the garden construction and careful design incorporating drought tolerant species . The effect merging the solid surfaces of the buildings with the backdrop of the natural park-space behind the residences. The outcome: spectacular presentation; a low mainteneance gardening schedule; and light cleaning applications to maintain the high standard appearance of the complexes.

This is a genuine opportunity for the "savy" business operator willing to provide the full suite of services to this community of owners. There are no prescribed office hours.
For a business memorandum contact your RAAS Joint Listing Brokers:

Peter Sagner
Mobile 0401 814 404
e-mail peters@raas.com.au

Jim Prentice
Mobile 0412 984 684
e-mail jimp@raas.com.au
Financial Overview

Body Corp Salary:
192,925
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
5% or CPI (greater of)
Net Profit:
$303,000
Manager's Unit Price:
$700,000
Management Rights Price:
$1,584,000
Letting Business

Est. Year Built: 17
Total Units In Complex: 98


Inside Letting Pool

Permanent: 54
Holiday: N/A
Corporate: N/A
Total: 54

Outside Letting Pool

Lock Up: N/A
Outside Agents: 3
Self Managed: N/A
Owner Occpd: N/A
Total: 47

Number & Type In Letting Pool
Number Type Features
39 2 Bed Apartment AirCon, Dishwashing
7 1 Bed Apartment AirCon, Dishwashing
3 2 Bed Apartment Fully furnished
Tariffs

Booking Type Details
Permanent $450 to $640 per week, Excelsior: ($690; $650; $600) per week
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 2 Bedrooms , 2 Bathroom
Office Reception: On title
Office Software: Caretaker
Office Hours: none Stated
Storage: Plenty
Office Computer: Yes
Module: Accommodation
Agreement Term: 25
Years To Run: 17/18
Manager's Unit Description: A beautifully appointed luxury ground apartment with separate: kitchen and dining; lounge; large office; Master bedroom with en-suite; front tiled patio set in a discrete leafy courtyard. High-end appiances enhance the finish.

Facilities

Pool: Yes
Spa: No
Gym: No
Tennis Court: No
Sauna: No
Foxtel: No
Cable Installed: Yes
Pets Allowed: Yes
Barbeque Area: Yes
Wireless: No

Other Facilities: Each complex has a pool and a Body Corporate Committee. Both Committees engage the same Strata Management Company. This business will average about 30 hours per week of duties.

Property Agent

Peter Sagner

Peter Sagner

Phone: 0401 814 404
Office: 1300 282 370

Email Listing Agent

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