Location Cairns QLD
Date Listed 30th July, 2019
Listing ID 6575
Excellent Management Rights Business in Cairns
This business opportunity is at an exceptional commercial complex trading as the Cairns Night Markets, which offers interesting and diverse entertainment for all and is a must for visitors to Cairns, resulting in about 2.7 million visitors every year. The complex has a perfect Esplanade location with 131 shops including 13 food outlets with seating for 200. 122 shops have been in the letting pool for 21 years. During this period there have only been two Managers, which speaks volumes for the quality of this business.
The complex is structured as a Management Rights business but with fewer restrictions. It offers excellent security of tenure with a Perpetual Term on the Body Corporate Agreements. The Manager is a member (with voting power) of the Body Corporate Committee. This is a remarkably stable business with low shop vacancy rates and minimum lease terms of 12 months that offers excellent and consistent growth.
The Body Corp provides a good salary for the Manager to do administration duties overseeing contractors who provide cleaning, gardening and maintenance services at the Body Corporate’s cost. The Manager also lets the shops. Two people can run this business with ease. One very experienced staff member who essentially runs the business by herself and has been with the company for 11 years, is willing to stay on with new owners.
The Manager’s office is owned by the Manager, but there is no Manager’s residence to buy.
The Cleaning Contract for the food court is worth $210,000 p/a & The Security Contract is worth $82,000, these can be possibly taken back as Managers responsibility to increase the profit by approximately $80,000. The office is $550,000.
Don’t pass by this opportunity without considering it for yourself. Please contact Mr Robert Lin on 0433-000-888 to obtain further information and discuss this opportunity in detail.