ResortBrokers is proud to offer The Brook at Kalinga Park- a fabulous townhouse complex and business near Nundah.
On offer is a rock-solid business, a cosmopolitan lifestyle, and a great place to call home in Brisbane's desirable inner northern suburbs. With 23 years remaining on the 25-year caretaking agreement, this business is a solid business opportunity in uncertain economic times.
The income is robust with the body corporate salary recently increasing to $118,725, accounting for two-thirds of the business's net income of $170,000, rising each year in line with CPI adjustments. This represents a strong income, stylish townhouse and a lifestyle to boot!
The letting side of the business benefits from a scarcity of rentals in the area as well as annual increases in rents, not to mention a stable letting pool. The body corporate committee is friendly and cooperative, and the complex has a supportive community-minded atmosphere.
The vendor is highly cooperative and will train you up on the easy-to-operate systems and procedures they have put in place to ensure the smooth running of this business. What's more, there are no set office hours, which gives you maximum flexibility in managing your caretaking duties.
The manager's townhouse is a spacious 3-bed, 2-bath living area with a great entertaining space and a separate office to do business. Its pricing of $649K represents incredible value for this location, a price that would not be available were the property offered for sale separately to the business, with a recent valuation eclipsing the sale price. The complex is a five-minute walk to Toombul train station and the shopping and dining hubs of Nundah, Chermside and central Brisbane are within easy reach.
Our broker Frank Matus would be delighted to walk you through this opportunity.
- Strong net income of $170,000 (McAdam Siemon prepared P & L)
- Body Corporate salary of approx. $118K that increases annually with CPI
- $649k Townhouse, significantly below recent valuation
- Manage as you see fit, no office hours stipulated
- Extensive handover and support provided
- Co-operative body corporate committee
- Solid letting business with rentals being scarce in a rising market
- Inspections are by appointment only
