Management Rights - Teneriffe, QLD

Teneriffe, QLD

$2,246,000

Property Description

Terriffic Teneriffe Trifecta

A package deal located in the heart of Teneriffe, and, every convenience within walking distance. This business opportunity consists of: two Prestige contiguous buildings plus; an annually renewable caretaking contract with a letting pool of three within a small neighbouring building. There is one managers' apartment required as part of the Caretaking Agreement to be purchased. The Managers Apartment price $680,000 and business package price $1,566,000. 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 $2,246,000.

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 the twin communities of owners. The contract with the smallest building is directly with the Stratra Manager and supported by that buildings committee. There are no prescribed office hours.
For a business memorandum contact your RAAS Listing Broker.
Peter Sagner
Mobile 0401 814 404
e-mail peters@raas.com.au
Financial Overview

Body Corp Salary:
192,925
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
Very strong
Net Profit:
$292,635
Manager's Unit Price:
$680,000
Management Rights Price:
$1,566,000
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

Phone:
Office: 1300 282 370

Email Listing Agent

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