Cornubia
$1,075,000
3
3
1
Management Rights
- 76 Total Units
- Permanent Complex Type
- 12 Letting Pool
- $103,176 Remuneration
- $125,144 Net Profit
- $620,000 Manager's Unit
- BBQ, Function Room, Pets Allowed, Pool Features
Property Description
SOLID BUSINESS - GREAT LIVING ENVIRONMENT
On offer is a high quality 76 lot residential townhouse complex located in the growing suburb of Cornubia, approximately 40 minute's drive from both Brisbane and the Gold Coast. Secure living and peace of mind for residents is provided by a 24-hour staffed security service throughout the estate. Of huge benefit to the onsite manager of this business, is there are no caretaking responsibilities for the extensive recreational facilities and open spaces available to residents within the grounds of the greater estate. Representing a separate community management scheme within a larger estate, the lot owners contribute levies for maintenance of the entire estate allowing residents to freely enjoy a swimming pool, BBQ areas, function room, tennis courts, playground and parkland. Enticingly, the complex also borders a magnificent 18-hole golf course. This is a straightforward management rights operation with manageable duties, providing the opportunity to live and work within a safe, secure and very pleasant environment with superb recreational facilities. The manager's home is a 3 bed, 2.5 bath, single garage townhouse with office attached. There are no set office hours. The business is supported by a solid Body Corporate salary of $103,000. This income represents over 80% of Net Profit totalling $125,000. Fresh 10-year management agreements (Standard Module) will be guaranteed at settlement. Sellers are genuinely motivated to move onto new opportunities and have priced the business at a 3.6 multiplier. Serious offers will be considered. Business $455,000 Property $620,000
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