New Caretaking Business with Letting Potential in Gold Coast's Hottest Location | Resort Brokers ID : MR007958
$666,629
Permanent Management Rights, Chevron Island QLD
Just completed and currently establishing, Allure Management Rights business on Chevron Island is a stunning permanent residential apartment complex with high quality amenities. With no requirement to own a lot, and no set office hours, this business is up and running, ready for a new manager to take it to the next level. Allure Chevron Island has a solid business base, and is an attractive add-on for any experienced operators looking to secure a brand new business-only MLR at the top end of the Gold Coast.
- Newly established in June 2023 - great business to make your mark!
- $126,977 verified net profit from industry accountant
- 25 year Caretaking and Letting Agreements
- 94 beautifully appointed apartments - mix of 2 and 3 bedroom units
- 4 units currently in the on-site letting pool - 14 outside agents offer room for growth
- $114,000 per annum Body Corporate salary reviewed annually
- No set office hours and no requirement for manager to own a lot or live on-site
- Office and storage areas provided under Occupational Authority
- Rooftop swimming pool,gymnasium, club lounge with fireplace and wine cellar
- Optional 2-bed manager unit to purchase which can join the letting pool - $880,000
- All inspections by appointment only
Date updated: 28 Apr 2024 23:00:04
More Information
- Total Purchase Price: $666,629
- Net Income: $ 126,977
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 880,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
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.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Required Office Hours
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?