Currently returning over 14% per annum and netting $480,000, this highly desirable South Bank management rights is back on the market with a price reduction. Consisting of 117 apartments with 18 in the short term letting pool, this lucrative business is also backed by the secure income of a permanent letting pool of 59 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 business in this location, will not last long!
  • 117 units in total with 59 units in the permanent letting pool, 18 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: MR005449
Property Type: Management Rights
Region: QLD - Brisbane
Suburb: South Bank
Sale Type: Management Rights - All
Net Profit: $480,037
Price: $3,376,000

Location

Listing Agent(s)

Agent Feedback

Recently my wife and I purchased a management rights business through Jessica and Jane. From the first contact with them, we were kept completely informed and received first-class treatment. When things needed to be chased up Jessica and Jane were always on the job, working with ourselves and the seller. I would recommend Jessica and Jane to anyone who wishes to market their business or to a buyer in the market for a new venture.  

- Leo & Venus
Buyer,
Tea Trees at Calamvale

I was happy with Resort Brokers and was impressed by Jessica’s attitude and abilities. Thank you for your all of your hard work that allowed us to achieve a sale this year. Not only were we kept updated throughout the entire process, Jessica was pro-active in solving any issues during the sale. Her excellent relationships with all the key specialists that assisted us in the sale process proved invaluable. I would highly recommend Jessica to any Management Rights owners who want to sell their business.

- Cecilia Xiao
Vendor,
Arbour Groves

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