Ad ID: 80620 Inactive

Management Rights Business for Sale Auckland City Centre

Management Rights Auckland City


Business for Sale Description

Management Rights Business for Sale Auckland City Centre

This smart apartment building has a superb address in Auckland city and may suit a couple entering the management rights business or existing MR operators seeking to expand their portfolio. The Body Corporate provides a 2 bedroom apartment to the onsite manager, plus a tandem 2 vehicle car park.

Currently, approximately 24 apartments are in the Letting Pool. The apartments in the pool are on standard letting service agreements. In reality, these agreements are perpetual until the lessor signals change. Auckland has a relative shortage of good apartment accommodation ensuring the sustainability of letting businesses like this.

Rents are approximately $340 – 570 per week

The rental commission rate to the operator is approximately 8% (plus GST).

Term. Commenced August 2005 for 10 years plus 2 x 10 year ROR periods

BC pays a building manager fee

With minimal operating costs and reasonable barriers to entry, the impressive annual surplus substantiates the asking price. Interested purchasers are invited to complete the NDA online prior to making inquiries.

Lindsay Sandes 021 895 940

Ref: EL01947

Asking $520,000

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