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UNIQUE Management Rights Rockhampton (Great Tenants) Same managers 17 years

$960,000

Rockhampton City, Queensland

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 utilities room (currently being used as a dining/lounge) Laundry, bathroom & outdoor living space and extra parking.
Asking $400,000.

Features

Managers Unit

    Complex Information

    Motel Information

    • Restaurant Facilities
    • Liquor Licence
    • Restaurant
    • Lease: -

    Hotel Information

    • Restaurant Facilities: -
    • Liquor Licence: -
    • Restaurant: -
    • Lease: -

    Business Links / Tools

    Last updated: 8th September 2021

    Summary

    Property Type
    Business
    Contract Type
    For Sale
    Location
     Rockhampton City
    State
     Queensland
    Price
    $960,000
    Category
    • Hotel
    • Management Rights
    • Motel

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    Agency

    Business Brokers Network

    Business Brokers Network

    Contact

    Simone Simpson