Thorneside
Sold
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Management Rights
- 104 Total Units
- Permanent Complex Type
- 28 Letting Pool
- $133,000 Remuneration
- $177,000 Net Profit
- $350,000 Manager's Unit
- BBQ, Function Room, Pets Allowed, Pool Features
Property Description
16% RETURN ON INVESTMENT. BRISBANE BAYSIDE.
Long term managers now offer this very stable, well-presented townhouse complex for those looking to purchase a secure business. One that will survive and thrive through uncertain times, with a guaranteed Body Corporate caretaking salary of over $2,500 per week. 104 lots in total, with 28 in the rental pool and potential to improve the net income through acquisition of outside agent lets. The income is underpinned by a sizeable caretaking salary of $133,000 ( 75% of Net Profit ) with accountants Profit and Loss for the year to 31 Dec 2019 showing a Net Profit of $177,000. The current managers have a very good working relationship with owners and Body Corporate Committee and this complex has a history of regular agreement extensions. Excellent living and working environment by Waterloo Bay. Close to shopping, public transport, childcare centre and good schools. The manager's home has 3 bedrooms with office attached on title. Flexibility with no set office hours. Residents enjoy great facilities including swimming pool, tennis court, function room, BBQ area. After eight successful years the current managers are now looking forward to retirement and will provide comprehensive and complete training to help new managers make the most of a genuine opportunity to build on this healthy management rights business.
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