Quiet tranquillity in the heart of Surfers Paradise

by Grantlee Kieza 17th of November, 2021

Quiet tranquillity in the heart of Surfers Paradise
Spectrum, Gold Coast

Spectrum is a riverfront holiday complex close to a secluded private beach but within a stone’s throw of all the attractions of Surfers Paradise.

The apartment block is located on River Drive at Budds Beach, which is actually part of the suburb of Surfers Paradise but such a hidden gem that many Gold Coast locals don’t even know of its existence.

Management Rights for Spectrum are on sale for $1,150,000, which includes a two-bedroom, two-bathroom managers’ residence valued at $590,000 and which is increasing in value every day during Queensland’s property boom.

There are 56 units in the complex and 14 in the letting pool.

Spectrum, Gold Coast
Spectrum, Gold Coast

 

The body corporate salary is $92,264 and the net profit $132,000, though marketing agent

Warren Oliver from MR Sales said that figure is based on returns during pandemic lockdowns and was “40 grand higher” before COVID hit.

“COVID has obviously brought the net profit down so there is great potential for even better profits when the situation returns to normal,” Mr Oliver said.

 “It will get back to the pre-COVID profits because the number of units in the letting pool has not dropped so there's a lot of potential.

“Spectrum is right on the river. The actual suburb is still Surfers Paradise but the area is always recognised as Budds Beach by the locals. It’s a very family-focused area. There's not an overabundance of high rises and it's lovely because you have picnic areas across the road for families that aren't crowded.

“Budds Beach has always had a really good family reputation

“Spectrum would very much suit a couple entering into the management rights business. In recent times the committee has also built a huge reception area and a new office for the manager. The manager's residence has a glassed in back office and great covered entertainment deck.”

Spectrum, Gold Coast
Tennis Court, Spectrum

 

Spectrum has a northerly aspect with views to Southport and is also close to shops and restaurants. It comes with a heated pool, spa, sauna, tennis court and barbecue area as well as Foxtel and Wi-Fi throughout the building.

There are contract cleaners in place and the manager can have a small pet with body corporate approval.

Budds Beach is nestled on the sandy beaches of Nerang River close to the heart of Surfers Paradise, but seemingly a million miles from care.

 It is on the eastern side of the river and easy walking to Cavill Mall, and there is a wonderful

grassy park with plenty of shade, barbecues, park benches, trees to climb and a kids playground.

From Budds Beach Reserve there are delightful vistas of Chevron Island and Surfers Paradise.

But despite being so close to big developments, the Budds Beach area remains quiet and tranquil.

The sandy beach at Budds is shallow and family friendly. There is a large sandbank by the river so children can paddle in the shallows and build sandcastles.

Quite often a local pod of dolphins come along the Nerang river as an extra treat for onlookers.

There have even been sightings of a Dugong rolling around in the river channel, feeding on the seagrass in the river.

Find the business listing details HERE.

Find more Accommodation For Sale HERE.

Find the latest industry news HERE


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