$555,000 Verified Net Profit!! Only 20kms north of Brisbane CBD. Super Prime Rental Area!

$3,985,000

Permanent management rights, Brendale QLD

BRISBANE NORTHSIDE - 20 kms north-side

Asking a 6.0 multiplier on the Verified Business Net Operating Profit of $555,795, plus the 3 bedroom real estate at $650,000.

A complex of over 280 lots on a level site within walking distance of many tenant-friendly facilities.

FINANCE
> Phipps Finance has run the numbers and this business and confirmed it is suitable for a 70% LVR (to approved purchasers).

LETTING POOL
> The business will be sold with a claw provision.

The business highlights are:

> McAdam Siemon Accountants verified a $555,795 net operating profit.
> The multiplier is 6.0 times the net.
> Remaining Agreements Term will be at 21 years

The Real Estate:

> The inclusion of the 3 bedroom Managers Villa and On-Title Office at $650,000.
> Includes a large office area.
> No requirement to reside on-site.
> No office hours.

A Couple of Highlight Points:

> Transferable staff.
> All equipment, except 2 items, is Body Corporate owned and maintained.
> The pools are Body Corporate cleaned and maintained.
> Co-operative committee.
> The Agreements are Gallery Vie compliant.

Contact GREG JORGENSEN at greg@ or call on 0407 721 335 to receive a confidentiality agreement and access to the extensive documents folder.

More Information

Financial Overview

Total Purchase Price: $3,985,000
Net Income: $ 555,795 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 650,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 6.0
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: 55
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 300
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 543,000
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 22 years
_{How long is the caretaking contract.}

Agreement Remaining: 21 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 20 years
_{How long has the management rights existed.}

Office Hours: None
_{Required Office Hours}

Complex Features: A townhouse/villa complex in Brendale is surrounded by modern shopping and multiple employment facilities.

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 650,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 3

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: A single level 3 bedroom, 2 bathroom Villa with on-title office and a double garage. There is no living on-site requirement. There are no office hours. The dwelling has been upgraded and presents in good condition throughout.