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Devon Apartments

$325,000 plus GST if any

Management Rights Auckland

ID: 1828

Devon Apartments, Auckland - Management Rights For Sale - Price Reduced

Property Name:
Devon Apartments
Address:
6 Piwakawaka Street, Eden Terrace, Auckland
Property Type:
Management Rights
Sale Type:
Management Rights
Price:
$325,000 plus GST if any 
Region:
Auckland
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Gordon McGregor

Gordon McGregor

Director | Coromandel, BOP

M: +64 21 998 810

gordon[dot]mcgregor[at]bayleys[dot]co[dot]nz

Reasons to buy

  1. easily managed complex of only 45 units - currently run by single person
  2. close to all amenities and major arterial routes
  3. bars, shops and restaurants within easy walkin distance
  4. job with income and accommodation provided rent free
  5. job security for 15 years if agreement renewed by you
  6. generous salary increased by CPI
  7. Potential to act for absentee owners and manage letting their apartments for them and collecting commission - thus increasing your income.
  8. Potential to offer occupants additional services - more income.

Gordon McGregor

Director | Coromandel, BOP

Contact Agent

Gordon McGregor

Mob: +64 21 998 810

Email: gordon[dot]mcgregor[at]bayleys[dot]co[dot]nz

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A modern and fairly small apartment block on the periphery of the City Centre in the popular area known as Eden Terrace.  The work required is not burdensome given the size and age of the complex and you will be answering to the established Body Corporate.  

You get to live in a 2 bedroom, one bathroom plus ensuite and 2 carpark apartment with a small balcony RENT FREE - PAID BY THE BODY CORPORATE.  It is within walking distance of the shops, bars, restaurants, and office buildings in the City Centre but closer at hand is the vibrant K Road and Ponsonby precincts.

If you are a couple, then one partner could handle the management and the other work in town.

If you are an investor, then leave the current manager in place and take a generous return on your capital outlay.

Your security of employment is provided by way of a 10 year management agreement commencing 1st October 2002 with 2 ten year rights of renewal, at your option to exercise.  Based on renewing the agreement, you have a job for another 15 years with an management fee, which is adjusted annually to allow for CPI increases.  What's more, the Body Corporate pay your rent for the 2 bedroom apartment (approx 62 sqm), the 2 carparks and an office/storage space by the entrance foyer. 

A cheap entry to Auckland living and lifestyle plus a management job with security of tenure.

The complex has a mix of 1 and 2 bedroom apartments and the total number 45 in the block - all apartments have their own carpark.

Such a cheap entry into the Auckland market means that this listing should not last long.  Much better than having to buy your own apartment and look for work.

Please call Gordon McGregor on 021 998810 of email gordon.mcgregor@bayleys.co.nz for an inspection.

Disclaimer: We do not accept responsibility for mis-statement or error contained on this site. Interested persons should rely on their own enquiry. All prices are plus GST if any unless otherwise stated. If the transaction is recognised as a going concern then the sale should be zero rated.

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Gordon McGregor

Gordon McGregor

Director | Coromandel, BOP

M: +64 21 998 810

gordon[dot]mcgregor[at]bayleys[dot]co[dot]nz

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