Lutwyche
$760,500 BUSINESS ONLY
Management Rights
- 64 Total Units
- Permanent Complex Type
- 19 Letting Pool
- $89,311 Remuneration
- $138,270 Net Profit
- BBQ, Pets Allowed Features
Property Description
BUSINESS ONLY - NO REAL ESTATE - LIVE OFF SITE
We are pleased to present this exciting Brisbane Management Rights package for sale. On offer, is a pair of mid-rise residential apartment buildings located within two of Brisbane's premier northside suburbs of Lutwyche and Chermside. The logistics of managing the two buildings are straight forward as they are conveniently located within 4 km of each other. Attractively, this business has no real estate component and no requirement to reside onsite. Both properties are modern buildings of similar size and have very modest communal amenities. Caretaking duties are therefore not overly extensive. Caretaking Salaries totaling over $89,000 p.a. plus GST, representing approximately 64% of total net profit, thus providing robustness to this business. Long terms remain on both Management Agreements, adding an additional layer of security to the incoming manager. Furthermore, there is the opportunity to increase the current rental pool, and therefore your bottom line, by securing onsite rentals from external real estate agencies. And of course, the ongoing quality of tenants to select from within both Lutwyche and Chermside is second to none. Lutwyche is a terrific combination of city convenience and suburban charm, whilst Chermside is a major retail, health, and transportation hub. Both suburbs, the pride of Brisbane's north, a short drive to the CBD. Looking for a quality addition to your existing business portfolio? Contact Bobo Qi now for an exclusive inspection.
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