Ad ID: 76662

Serious Earning Management Rights Business for Sale Auckland

Serious Earning Management Rights Business

Location:
Asking:
$1,300,000

Business for Sale Description

Serious Earning Management Rights Business for Sale Auckland


If you are considering Building Management as your next lifestyle move then this business has plenty of appeal. As Building Manager for this well-designed waterfront complex, you will enjoy the ultimate in urban apartment living with convenient access to Britomart, Spark Arena, Queen Street shopping, Auckland Viaduct and local nightlife.

The complex is made up of four apartment buildings set around a series of atriums, with a total of 220 apartments. A variety of apartment configurations are available ranging from studios to one bedroom and two-bedroom apartments. There is ample car parking in the basement below the buildings.

The Numbers:
Two 10-year terms remaining, with final expiry not until late 2037
Body Corporate remuneration package = $69,034
Rental commission from a letting pool of 82 units = $170,748
Current Building Managers salary = $114,774
Rent & Outgoings compensation = $47,800
Potential remaining rental income from 50 potential additional units = $104,114

The Benefits:
The business comes with the use of a Managers apartment consisting of two bedrooms, two bathroom & two carparks. All costs are covered by the Body Corporate.

The Considerations:
Current ground lease negotiations ( happens every 7 years) which may or may not have impact on investors buying or selling apartments in this complex.

Asking Price: $1,300,000

To find out more information, visit www.barkerbusiness.co.nz/BBS2392, register your details and submit the online Confidentiality Agreement. Once Sean receives your expression of interest he will be in touch.

We recommend that all potential buyers of Management Rights seek legal advice and confirm with their bank on the lending criteria for this type of investment.

*Source of information - Supplied by the Business Owner.

Licensed REA 2008. Copyright Barker Business Brokerage Ltd 2018.

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Barker Business Brokerage Ltd
For more info
Contact:

Sean Burke

Sean Burke
027 444 8885 or 09 320 0848
Phone: Sean Burke 027 444... or 09 320 0848
Barker Business Brokerage
Licensed REAA 2008
Broker Ref: BBS2392

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