Summary
An iconic Townsville landmark steeped in history with outstanding sea and island views. It’s a fifty-five-unit complex of luxury living with beautifully manicured sprawling gardens and surrounds.
Location Details
Prestige apartments close to the beach & CBD
Potential
Expansion on Rentals
Skills
Licensed Real Estate Agent, communication and people skills
Hours
Monday to Friday 8.00am to 1.00pm
Lease
Residual of 25 year agreement from 2020
Employees
2 x Owner Operator
Reason for Sale
Retirement beckons for the current owners
About the Business
Townsville Management Rights – Prestige apartments close to the beach & CBD
$450,000 WIWO + managers estate purchase or rent
An iconic Townsville landmark steeped in history & advanced by innovation that has outstanding sea and island views of Cleveland Bay. It’s a fifty-five-unit complex 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.
This business opportunity certainly ticks a lot of boxes:
• 25 Year agreement
• 20 Years agreement term remaining
• Manager’s unit required to live on site
• 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
• Small letting pool
• Easily managed
• Outdoor BBQ area
This Management Rights Agreement spans twenty-five years, with the current owner having successfully operated the business for the past seven years as of this December. The agreement stipulates that the complex managers must reside onsite. The current owners live in an oversized luxury unit, which includes an office that could be sold at a price, but should the buyers prefer something more affordable, the option of purchasing a smaller unit or renting an apartment is available. The more economical choice is still viable, as there is a large, brand-new office space within the complex that is currently unused and available for the site managers' use.
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 licenced real estate agent to include apartment sales.
History
5 Years
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