LARGE PERMANENT MANAGEMENT RIGHTS - $635K+ NOP BOWEN HILLS - BRISBANE | Resort Brokers ID : MR008661

The perfect opportunity for partnerships / syndicate or alternatively suited to two-person management team with part-time assistance. This modern mid-rise complex is efficiently run and presents to the market as a perfectly established management rights business offering a sizeable net profit and a high level of security. The Caretaking and Letting agreements were recently topped up to the full 25-year tenure, and the business is underpinned by a solid BC salary of c. $335,000, representing more than 50% of annual net profit.

The two-tower permanent complex comprises 197 apartments in total with 100 managed in the onsite letting pool. Of particular interest is the scope for additional earning through onsite unit. The office / reception is prominently positioned, and the current owner have enjoyed considerable additional income from sale commission. A must see for all syndicate seekers and or owner-operators looking to expand their business base.

• A high-yielding asset attractive to syndicators and corporates
• Strong BC / committee relationship with full 25-year tenure to agreements
• Features a well-presented, clean Profit & Loss statement with sufficient wage allocation
• Permanent complex with quality facilities including pool and gym
• Comprises a total of 198 apartments over two towers with 100 in the on-site letting pool
• Good scope to grow unit sale business, given scale of complex and location of office.
• Located in Bowen Hills, a sought-after inner-city fringe suburb, close to all amenity
• Potential for significant growth via outside agent conversion back into the letting pool
• 2 bed, 2 bath managers’ residence - $595,000
• Reception/office under OA is located between the two towers and 42sqm storage in basement
• All inspections by appointment only

For more details, please email broker or call agents.