$495,000 for the business & $975,000 for the freehold property if required
About this opportunity
An iconic landmark in Townsville steeped in history & advanced by innovation that has outstanding sea and island views of Cleveland Bay. The complex has 55 units of luxury living with beautifully manicured sprawling gardens and surrounds. Superbly located in a trendy suburb of Townsville that is loaded with great cafés, restaurants, other licensed venues, speciality stores, supermarkets, post office and the CBD all within walking distance.
Why should you consider this opportunity?
- 25 Year agreement
- 20 Years agreement term remaining
- Manager’s estate $975,000 (if required)
- Large onsite office
- Extremely well presented
- Complex 1 – 6 Storey with lift access
- Complex 2 – 5 Storey (including 2 storey car park & storage) with lift access
- Indoor Pool
- Airconditioned gym
- Electric Gate Access
- Fully secured complex
- 17 Units in the letting pool
- Easily managed
- Outdoor BBQ area
This Management Rights Agreement is for twenty-five years with the current owner running the business for the previous five years this December. The agreement requires the complex managers to reside onsite however the current owners decided to maximize their lifestyle opportunities by taking a larger, modern 3 bed 3 bath with an office to conduct the business. This luxury onsite residence will either be sold together with the management rights or separately should the buyers wish to look at a cheaper onsite option with the choice available to purchase a smaller unit or simply rent an apartment. The cheaper option will suffice as there is a very large office within the complex for use by site managers which is currently brand new and unused.
The complex is extremely well presented and kept in mint condition with systems and procedures put in place by the onsite managers, who share the workload with a part time staff member working 20 hours per week.
A combination of location and prestige living provides the owners with great lifestyle supported by a business that has a good net profit and body corporate remuneration. Due to the current owners wishing to retire, this business opportunity is now being offered to anyone wanting to take their lifestyle to the next level. To operate in this management rights business, you will need to be at minimum an accredited residential letting agent for the leasing of apartments or a fully licensed real estate agent to include apartment sales.