Established in 2021 by the owners, this management rights business comprises 79 townhouses developed by Phillip Usher Constructions. Designed to maximise investor appeal and minimise caretaking requirements, the complex is superbly run with 69 units in the letting pool and two external rentals nearby. It boasts landscaped gardens but no pool, with only a small gym and minimal lawns.
With 25-year agreements and no set office hours, this complex offers incoming buyers the security of long tenure. It presents a strong investor-led business, supported by a Body Corporate salary of $112,451.
The business has experienced strong rental increases, which will enhance future profitability for the incoming owner. A magnificent free-standing 4-bedroom, 2-bathroom manager's residence with an attached office allows for comfortable living and conducting business.
Selling for a very attractive multiplier of 5.6x for a net operating profit over $300k, this opportunity is not to be missed.
Interested? Why not give Jeff Keast a call on 0414 669 007 or jeff@resortbrokers.com.au
