Management Rights - Morayfield, QLD

Morayfield, QLD

$1,251,000

Property Description

Great Management Rights Complex with space to move and live

Do you want to be half way between Brisbane and the Sunshine Coast, and not crammed in by other buildings and still be close to all amenities in a very affordable complex? Well this is the one for you.

Close to absolutely everything including the city, Moreton Bay, the Sunshine Coast and the hinterland. Incredibly popular with tenants this property maintains 100% occupancy and healthy rental growth. Lovely, modern, out of the way and quiet manager's unit. Recently renovated and updated. The office is the original single garage so it easily fits two workstations and is comfortable and spacious. 2 of the three bedrooms, the lounge and the office are all air-conditioned with split system reverse cycle units. Each of the bedrooms has fitted wardrobes and even the smallest can take a queen bed. There is a massive patio to the rear of the house and to the far side is secure parking and storage behind a roller door. There is a 4kwh solar electricity system installed at the house. The low set house is in a quiet corner away from the pool and the public areas.
All of the outdoor equipment is owned by the caretakers and it's all up to date and in good condition stored in the exclusive use shed near the pool and is included in the price. There are no specified office hours and the current owners open the office twice a week for 2 hours. There is a good opportunity to add to the income with unit sales and the current owners are averaging 5 sales a year.These figures are not included in the P&L

New 25 year agreements which cater to Gallery Vie mean financing the property is easy. Current managers have been involved in this property for more than 8 years and are ready to move on and retire.

Please contact Exclusive Agent Robert Collins on0404678792 or robertc@raas.com.au
Financial Overview

Body Corp Salary:
115000
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
C.P.I. plus review each 5 years
Net Profit:
$190,000
Manager's Unit Price:
$276,000
Management Rights Price:
$975,000
Letting Business

Est. Year Built: 1994
Total Units In Complex: 104


Inside Letting Pool

Permanent: 48
Holiday: 0
Corporate: 0
Total: 48

Outside Letting Pool

Lock Up: 0
Outside Agents: 7
Self Managed: 2
Owner Occpd: 54
Total: 63

Number & Type In Letting Pool
Number Type Features
20 2 Bed Villas Air con, 1/lug, dishwasher,fan,
28 3 Bed Villas Air con, 1/lug, dishwasher,fan,
1 Bed
Tariffs

Booking Type Details
Permanent 2 bed $290 - $305 3 bed $290 - $305
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 3 Bedrooms , 1 Bathroom
Office Reception: On Title
Office Software: caretaker
Office Hours: nil
Storage: Yes
Office Computer: yes
Module: Accommodation
Agreement Term: 25
Years To Run: 23
Manager's Unit Description: Three bedroom tidy home with 2 car accommodation plus work bench area, shed, huge covered out door area large office attached very quiet. Fully airconditioned, comfortable and out of the way

Facilities

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

Other Facilities: This is a pleasant quiet area with a real country feel. It is close to all amenities and is ideally situated 45 minutes drive from Brisbane and the same from the sunshine Coast. The potential for income increases are real and it is priced to sell. New Agreements are in place which include a schedule of duties and which cover the Gallery Vie clause.
Pets with BC approval. Good income for moderate workload. Remuneration review scheduled for April 2019.

Property Agent

Robert Collins

Robert Collins

Phone: 0404 678 792
Office: 1300 282 370

Email Listing Agent

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