Remuneration / Net Profit at 77% , NO NEED TO LIVE ON-SITE, NO OFFICE HOURS | PLENTY OF POTENTIAL, 22-Year MR Business

Permanent management rights, Teneriffe QLD

This business offers a unique and stable income structure, with 77% of total revenue derived from remuneration and net profit. The net profit stands at $349,470, with remuneration totaling $269,140, and increased annually in line with CPI. Additionally, letting pool management commissions generate $74,339. The business is priced at $1.87 million.

-Agreement Validity: The management rights agreement remains valid for 22 years, with the caretaking agreement renewed last year.
-Flexible Management: No requirement to live on-site, No office hours, and No elevator or gate.
-Property Details: The associated caretaker unit is a three-bedroom apartment with one bathroom, two car parks, and a titled office, priced at $925,000. Onsite office is on a separate title. Ownership of 2 lots provides the manager with corresponding 2 votes at general meetings.
-Additional Rental Income: The caretaker unit and parking spaces are rented out, generating an additional $28,000 per year ((excluded from above income).
-Responsibilities: The Body Corporate maintains the landscaped gardens, swimming pool water and equipment. The building manager is responsible for common area maintenance, grass mowing and pool clean.
-32 Units for Airbnb
-PLENTY OF POTENTIAL
-Ideal Location: The waterfront complex is conveniently located near the Brisbane River and close to public transport and amenities.

Onsite pool, BBQ and gardens are enjoyed by residents. As are scenic strolls along the Brisbane River boardwalk to Newstead, New Farm Park, Brisbane Powerhouse, weekly markets, and beyond. Teneriffe ferry terminal is a stones though away. Soak in Teneriffes cafes, restaurants and bars. Shopping and entertainment await at nearby Gasworks, James Street and Howard Smith Wharves. Brisbanes CBD is only 3 km away.

DISCLAIMER
The agent gives notice that:
1. The figures and information disclosed in this Information Memorandum are provided by the vendor. All intending purchasers are to make their own enquiries and assessments as to the accuracy or otherwise of the information supplied by the vendor.
2. It must be noticed that agent has no access to full sets of accounts or legal documentation for verification purposes. No liability for the information will be accepted by the agent and parties should make their own investigations as to the accuracy of these figures and information.