Baringa Reserve
$999,000
  • Baringa Reserve
Down Town Morningside

Owner has committed elsewhere
The current caretaker has been in position for just 8.5 years and enjoys a very positive relationship with the Body
Corporate, the Committee and Owners alike. Rental demand is always high for the complex and vacancies are easily
filled when they arise as the owners maintain their properties to a high standard. There is 22 years to run on the 25
year agreement, with this being topped up a the AGM in 2020. There are currently both gardening and pool
maintenance contractors in place.
You can continue with these service providers or take over and complete these duties yourself. Current caretaker
salary is $77,615
This complex requires the caretaker to reside in the assigned lot and be on site during the hours stated of ,8am to
5pm Monday to Friday and 8am to 1130am Saturday. The current caretaker uses Property Me Software and all
tenants pay by direct deposit. Office related duties take approx. 2 hours per week
If you would prefer to buy as a caretaking only arrangement, the vendor is happy to reduce the Management Rights price by $66,000. This also
means you will not require a letting license.
Income $105,000
Unit $750,000 - reduced to sell
Business $249,000 - this is a multiplier of 2.4 well below market value
Total $999,000
Please make an offer. No reasonable offer will be refused. Currently there is office hours but the committee is very flexible and will work with the new caretaker to allow flexibility once the trust is built. A very easy complex to operate!
Please contact Robert Collins Exclusive Agent on 0404678792 or [email protected]


BUSINESS SNAPSHOT

Financials

Body Corporate Salary: 77615

Management Unit

Management Unit Price: $750,000

Complex Overview

Complex Type / Module: Permanent

Total Units Inside Letting Pool: 11

Total Units in Complex: 40

Holiday Units: 0

Outside Agent: 3

Owner Occupied: 24

Agreement Term: 25 years

Years to Run: 22 years

Robert Collins
Robert Collins


CONFIDENTIALITY AGREEMENT GOVERNING ALL BUSINESSES LISTED WITH RAAS MANAGEMENT RIGHTS

In consideration of RAAS (being any or all of RAAS Property Group Pty Ltd and their respective business brokers) entering into discussions relating to the possible acquisition of the assets of any business(es) presented to me by RAAS, We/I hereby agree and undertake as follows:

  1. To treat as totally confidential the identity of the business(es) disclosed to me and any details as to its operation or financial accounts;
  2. Not to disclose the identity or any details of the operation or financial accounts to any third party (except my accountant or legal advisor who shall agree to respect this requirement for confidentiality) unless expressly authorised in writing by the Vendor or by RAAS;
  3. Not to make an approach to the Vendor of any business disclosed to me by RAAS, or the business’ staff, customers or suppliers without prior arrangement with RAAS and to refer all queries through RAAS;
  4. We acknowledge that RAAS is the introducing broker, and that all offers and deposits for the business, shares or property will be conducted through that office.
  5. If, I as a potential buyer breach clause 4 of this agreement and buy directly or indirectly this business from the Vendor of the business quoted then I the buyer will be responsible for any loss of commission due to RAAS Property Group as the case may be;
  6. If, I as a potential buyer breach clause 1, 2 or 3 of this agreement I undertake to indemnify RAAS against any actions, proceedings, costs, claims, demands or liabilities which you may suffer in consequence of that breach.
  7. That all information is received for no other purpose than the evaluation of the investment potential of the business;
  8. If I decide not to proceed with the investment, I agree to immediately return to RAAS all written information supplied by it and retain no copies and to delete any electronic records including all emails and attachments relating to the business(es);
  9. the relevant Act for the State or Territory including but not limited to (Electronic Transactions Act 2000 No 8 (NSW), Electronic Transactions (Victoria) Act 2000, Electronic Transactions (Qld) Act 2001, Electronic Transactions Act 2011 (WA), Electronic Communications Act 2000 (SA), Electronic Transactions (Northern Territory) Act 2000, Electronic Transactions Act 2000 (Tas), Electronic Transactions Act 2001 (ACT)

By checking this box, you are agreeing to abide by the terms of our Confidentiality Agreement.