Management Rights For Sale

Facilities:                            

Swimming Pool, Gym

Building overview:

Year Built:                                            1999

Building Type:                                    Apartments

Total Number of Units:                   122 (15 x 1 bed, 40 x 2 bed, 67 x 3 bed)

Units in Letting Pool:                       79 (All Permanent including 9 Corporate)

Contract Term:                                  25 years

Years to Run:                                     24 years

Manager’s Unit:                                3 Bedroom Terrace Apartment, 2 Bathrooms, 1 Secure Car Park,

                                                            Exclusive Use Storage, Airconditioned 

BC Levy:                                             Council Rate & Water:                                   

Office:  On Title                                 Office Levy: $145/Q

Office Hours:                                     NONE



Business Software:                          Hirum

 

Rent Rate:                                       1 Bed $380/week, 2 Bed $500-$550/week, 3 Bed $600-$630/week


Financials:

Body Corporate Remuneration:   $143,000 per year with CPI increase



Net Income:                                                       $303,000

Unit Price:                                                          $580,000

Office Price:                                                       $60,000

Business Price:                                                 $1,620,100

Total Price:                                                         $2,246,000