Management Rights - Algester, QLD

Algester, QLD

$975,000

Property Description

MANAGEMENT RIGHTS.. HOME & BUSINESS OPPORTUNITY

This is a gated complex located in Algester and provides the manager with a very good salary, increasing by CPI per annum, and brand new 25 year Agreements. Current Manager has been in situ for the past 10 years and now looking to retire.
The grounds are in a good and presentable condition while the swimming pool area has recently had a make over and pool refurbishment. All equipment to maintain the complex is owned by the Body C.orporate.
The 3 bedroom rental units are large in size making them popular with tenants. The location is quiet and a few minutes walk to the #130 city bound bus.
There are also 3 rental properties (2 houses and 1 Unit) in nearby suburbs managed by the current Manager also making a total of 17 rentals in the business. The income from these outside rentals is included in the P & L

The managers unit is a 3 bedroom, 2 bathroom low set villa with street frontage. The back yard provides for privacy and covered patio out-door living area. There is a single lock-up garage, an extra parking space and a large office for running the business.
Unit $355,000, Business $620,000. Total asking price $975,000 .
Please contact Jim Prentice 0412 984 684 or Email jimp@raas.com.au for more infromation
Financial Overview

Body Corp Salary:
105722
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
CPI
Net Profit:
$130,000
Manager's Unit Price:
$355,000
Management Rights Price:
$620,000
Letting Business

Est. Year Built: 1998
Total Units In Complex: 49


Inside Letting Pool

Permanent: N/A
Holiday: 0
Corporate: 0
Total: 14

Outside Letting Pool

Lock Up: 0
Outside Agents: 9
Self Managed: 1
Owner Occpd: 25
Total: 35

Number & Type In Letting Pool
Number Type Features
4 3 Bed Villas Ensuite, fans, Single lock up garage. Some with Airconditioning.
10 3 Bed Townhouses Ensuite, fans, Single lock up garage. Some with Airconditioning.
1 Bed
Tariffs

Booking Type Details
Permanent $355 per week (average)
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 3 Bedrooms , 2 Bathroom
Office Reception: On Title
Office Software: Caretaker
Office Hours: None specified
Storage: 2 x B/C sheds
Office Computer: Yes
Module: Accommodation
Agreement Term: 25 years
Years To Run: 25 years from February 2018
Manager's Unit Description: Spacious lowset villa with ensuite, tiled & airconditioned living areas, covered outdoor entertaining area. Single lockup garage and extra parking space.

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: Gated community in quiet location.
Big Body Corporate salary with CPI annual increase.
New 25 year Agreements in place February 2018.
Swimming pool recently refurbished.
Can be run by a single operator.
There are 3 outside rental properties make up a total of 17 rentals. Income figures are included in the P & L

Property Agent

Robert Collins

Robert Collins

Phone: 0404 678 792
Office: 1300 282 370

Email Listing Agent

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