Highly desirable South Bank management rights currently returning over 14% per annum and netting $480K. Consisting of 117 apartments with 20 in the short term letting pool. This lucrative business is also backed by the secure income of a permanent letting pool of 57 units and a strong body corporate salary of $172,676. This is a perfect opportunity for an experienced operator to grow their management rights portfolio!

Key Features

  • Motivated vendors with a multiplier of 5.3x in this location, this business will not last long!
  • 117 units in total with 57 units in the permanent letting pool, 20 in the short term letting pool
  • Recently topped up agreements with over 24 years remaining
  • The vendor has enjoyed three years of this complex being a stable permanent building though has only explored the short-term capacity, very slowly and organically, showcasing the potential earning of this complex
  • Spacious three bedrooms, two bathrooms extremely large titled courtyard with your own street access
  • Building repainted externally in 2017
  • Excellent Body Corporate relationship
  • Experienced staff willing to assist with transition
  • Ideally nestled between The Brisbane Convention Centre, the entertainment and dining precinct of South Bank, Lady Cilento Childrens Hospital and the Mater’s Public and Private Hospitals.

Net Profit: $480,037 (FY17/18 Recently verified by specialist industry accountants McAdam Siemon)

NB: Property inspections are by appointment only

Key Details

Listing Ref: MR005364
Property Type: Management Rights
Region: QLD - Brisbane
Suburb: South Bank
Sale Type: Management Rights - All
Net Profit: $480,037
Price: $3,428,000

Location

Listing Agent(s)

Agent Feedback

I have recently had a wonderful experience working with Jessica Wilkie who sold the Management Rights on behalf of my partner and I. From day one Jessica was not just completely professional but warm, friendly, transparent and honest – all attributes which I find extremely important yet rare in this business.  Her knowledge in understanding every aspect of the Management Rights industry, combined with her superb ability to confidently interact with people from all walks of life is what got the sale achieved promptly and with a minimum of fuss.  I am currently working with Jessica to buy another MR business with her assistance.  Thanks for everything Jess!

- Paula Tait
Vendor,
Boston Apartments

We purchased ECCO and Bohemia through Jessica at Resort Brokers. Jessica is a professional agent with a wealth of knowledge about management rights. She always keeps us up to date and returning our calls or emails promptly. We look forward to get the next opportunity to work together.

- Wenbin Shen
Vendor,
AUMR Property Management Group

It has been a great experience for us to work with Jessica in the bidding process for Bohemia, West End management rights.  We have been impressed by her professionalism, deep knowledge, and extensive experience in the industry, particularly in the off-the-plan sector.  Her advice has been very helpful and the support is greatly appreciated by us.  We look forward to the next opportunity to work together.

- JJ & Brenda
Vendor,
Bohemia, West End