James Cook was a giant Yorkshireman who grew to manhood amid the dreary drizzle of northern England.
When he navigated his ship Endeavour through a chain of 74 spectacular tropical islands on the edge of the Coral Sea in 1770 he thought the sight was heavenly and he called his route Whitsundays’ Passage, after ‘Whitsun’ – Sunday June 3 – when Pentecost was celebrated on the Christian calendar.
The Whitsunday Islands are now among Australia’s most popular holiday destinations and their gateway at Airlie Beach presents a marvellous Management Rights opportunity at the Portside Apartments.
Geoff Ellis, from North Queensland Management Rights, said the multi-award winning holiday resort presented a high-profit opportunity in one of Australia’s most stunning locations.
Rated 4.5 stars, the Portside complex is situated in the town centre of Airlie Beach, opposite the Port of Airlie Marina, which offers all cruising and sightseeing attractions around the Whitsundays.
Portside remains among the best properties on offer in that part of Queensland, 1100km north-west of Brisbane.
“The opportunity to purchase the Management and Letting Rights for a property as good as this will not come often,” Mr Ellis said.
“Our vendors have enjoyed this business and the location for well over a decade now and are reluctantly considering a well-earned retirement. We expect the new business owners will want to stay just as long.
“Portside has a very nice managers’ unit and there are 16 other apartments which are all in the letting pool, no-owner occupiers, no outside agents.
“The current managers have done very well at the property.
“It's been a consistent performer and it's an ideal property for a couple to run. It’s of a size that can be managed by a couple and it produces a very good bottom line.”
The Management Rights are on offer for $2,395,000, with a profit of $389,404. The body corporate salary is $61,000
“It’s an excellent business and lifestyle opportunity,” Mr Ellis said.
“I've seen a lot of bigger properties that require a whole lot more work for that sort of profit or less. So it’s been an excellent performer and what a great location.
“A lot of properties in Airlie Beach are on the hill but Portside is at beach level.
“Guests have got a good outlook over the grass reserve across the road and out to the sea and unlike many resorts in the area they're not up hill and down dale getting to the property or their rooms.”
The managers’ unit is valued at $720,000. It is private and spacious with views, and has two bedrooms, two bathrooms and a car space on title.
Among the 16 quality holiday apartments are studio, one, two and three bedroom (three are dual keyed) together with a 4-bedroom penthouse apartment.
This configuration has proven to be highly flexible for all guest needs and enhances the trading performance of the business.
Although Portside is compact, the design allows every guest and the managers privacy and easy access. All apartments offer Marina and Coral Sea views.
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