Discover an exceptional management rights opportunity at Fairway Terraces, a modern, well-maintained complex in the thriving suburb of Pimpama. Located at 188 Gainsborough Drive, this vibrant community boasts 103 three-bedroom townhouses and a 4 bed managers unit, with 96 in the letting pool for permanent rental. The complex is ideally positioned close to local shops, schools, parks, and public transport, offering both convenience and lifestyle appeal.
Pimpama is one of the fastest-growing regions in Southeast Queensland, perfectly situated between Brisbane and the Gold Coast. With a mix of urban development and green spaces, it offers a family-friendly environment with access to new infrastructure, including schools, shopping centers, and recreational facilities. The area’s rapid growth makes it a prime location for residential investment and strong rental demand.
The business operates under a 25-year Management Agreement that commenced on March 25, 2021, with no set reception hours. It has just been topped up to full term 25 years at the start of 2025! A 2-person management team efficiently runs the operations, supported by Body Corporate Remuneration currently at $134,725 per annum plus GST, increasing annually in line with CPI. Unit 1 serves as the manager’s residence consisting of 4 bedrooms, 2 living areas, 2 offices, a 2-car garage (plus 2 additional driveway spaces), a backyard, and an undercover courtyard. It boasts a North-facing aspect overlooking Bim’Bimba Park. The $7.5 million Bim’bimba Park, completed by developer Mirvac in conjunction with City of Gold Coast, took out top honours in the Parks and Recreation category of the 2020 Urban Development Institute of Australia (UDIA) Queensland Awards for Excellence.
Gainsborough Greens also came out on top for Community Engagement Excellence at the Awards, considered the premier development industry accolades in the State.
The managers lot spans 414sqm, with an internal floor area of 241sqm. Plans for the Manager’s unit, which is generously sized is available upon enquiry.
For the 12-month period ending August 31, 2024, the net operating profit was $410,152, with no material discrepancies found in the vendor’s records. This well-established complex offers a lucrative, secure, and lifestyle-friendly business in a rapidly growing location.
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