Unique Management Rights Rockhampton (great Tenants) Same Managers 17 Years

Overview

The business is perfectly located in Australia's beef cattle capital and benefits hugely from overseas 457 visa workers who are housed here by this multi National Meat Company. The meat company pays the bond and 2 weeks rent and worker pays back Meat Company. If any issues with tenant (only 3 in the whole 17 years) it is resolved by meat company. This gives the business the enviable position of being able to boast a 99% occupancy rate & "trouble free"


The Business
• Currently 54 in letting pool of this 46 x 2 bed, 26 x 3 bed quiet and orderly complex
• Separate freehold Office Block with a 2 x bedroom Unit attached (Can be Managers Residence), with Kitchen, lounge/dining, study, bathroom currently rented for $350 per week.
• 23 years remaining on managers agreement
• Large security gated complex comprising of 70 units of which 54 are in the letting pool
• High Body Corporate salary of over $165.00,000 + CPI
• Easily managed complex 5 day a week
• Massive room for growth into extra income streams i.e. selling of investors units)
• No set office hours
• Great opportunity to purchase a tightly held business as sellers are moving on and retiring after 17year
• New Body corporate committee
Net profit

For 2020 including managers wage $ 195,000 to $200,000 (2021)

Asking Price

$960,000 - Management Rights $660,000 + Office & 2 bed unit $300,000

There is also a large 44sq modern, fully air-conditioned double story comfortable freestanding home (away from complex) 4-bedroom, 1 x bathroom with upstairs Modern generous open plan Kitchen, and utility room (currently being used as a dining/lounge) Laundry, bathroom & outdoor living space and extra parking.


Asking Price : $960,000

Simone Simpson LREA
Licensee Executive Broker
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