Key Practice Areas
Securing The Right Return On Management Rights
Case Reference: 123505
The Situation: Our client owned the management rights to a large townhouse complex south of Brisbane and was looking to sell their rights. We met with our client and obtained a detailed understanding of the current business operations including any existing operational issues in order to identify issues that may have negatively impacted the sale of the rights.
After completing a thorough review of the existing caretaking agreement, letting agreement and deed of grant of licence to occupy we provided detailed advices to our client regarding the key considerations that needed to be made prior to listing the management rights for sale. This included issues regarding valuations, specialist advice required from financiers and accountants and resolving existing issues with body corporate. Once the existing issues with body corporate were resolved by our client and other items were addressed, we prepared the management rights sales contract and undertook negotiations regarding the terms of the sale of the management rights. We also attended to all sale-related matters, including conveyancing.
The Result: The clear, practical advice we provided regarding pre-sale matters enabled our client to quickly action our recommendations, which ensured our client’s management rights contract was an attractive investment option that delivered prospective buyers almost immediately upon listing for sale.
As every case is different, the cases reported here cannot be taken as an indication of a similar outcome being likely in your case, and these reports are not to be taken as legal advice about your particular situation.