Greg and Tammy Randall arrived at the Beaches International resort at Forster 20 years ago with a babe in arms, and soon the building became their baby, too.
They nurtured the resort and watched it grow into a raging success.
Twenty years later the Randalls are moseying on into retirement in their early 50s after a large part of their lives spent in an ocean-front paradise while earning a great income.
They are selling the management rights to Beaches International for $2.75million at a time when it is returning a yearly profit of $411,900.
“When people hear that we’ve spent 20 years in management rights here they go ‘holy guacamole’,” Mr Randall said, “but Forster is honestly the most beautiful town in Australia and this is a wonderful building with lovely apartments all facing the ocean.
“It’s been such a fantastic place to live, and apart from being an enjoyable job financially it has been a marvel to work here.
“We arrived with the baby in our arms and soon the second one arrived and when your kids start going to school basically the anchor goes down. We have just stayed here so that 20 years later we are still running the same building. It’s just so lovely.”
Forster is a three and a half hour drive north of Sydney and 90 minutes south of Port Macquarie. The town and its Great Lakes are one of Australia’s best beach destinations, and just 20 minutes away are the great surfing breaks at Pacific Palms, including Boomerang Beach, Blueys Beach and, a little further on, the world famous Seal Rocks.
Beaches International is perfectly placed in the heart of Forster overlooking the glorious Main Beach and it offers a unique and highly lucrative business/lifestyle opportunity.
The property has 22 luxury units with 20 of them in its letting pool and it is just a short stroll to the north facing patrolled beach, cafes, restaurants and shops,
It has a consistent net profit verified by an industry accountant and there are no outside letting agents.
Mr Randall said the manager’s residence was 104 square metres with two bedrooms, two and a half bathrooms and a “massive” balcony.
“The office/reception is conveniently attached to the managers apartment,” he said. “I can still remember Tammy breastfeeding in the unit while I was working in the office next door – it's got that sort of convenience that only a family running a business would appreciate.”
The property includes a large outdoor pool, spa and BBQ area and a gym with a pool view.
Mr Randall said the building had a very supportive body corporate with evidence of bi-annual contract top-ups and a salary of $56,980.
The manager’s apartment is valued at $900,000 and comes with three car spaces.
“When we first arrived here it was a small business with just 10 holiday apartments in a big building,” Mr Randall said.
“The business has really grown since then. It is still such an easy building to run - not that you don't have to work at it – but the pricing structure here for tariffs is so simple because all the units have ocean views and none of them are duds. They're all big two- and three- bedroom apartments. All of them have en-sutites with every bedroom and they have spa baths.
“That makes the pricing structure so simple, and it saves a lot of time on computer work.”
Mr Randall said largely because of a pro-active body corporate ensuring the building was always in top condition, Beaches International had a “tremendous reputation in town” meaning it did “amazing business” from guests visiting friends and relatives.
Forster is on a land spit between Wallis Lake and the Pacific Ocean, and offers visitors boating, fishing, paddling, surfing and relaxed charm.
Other popular activities include whale and dolphin-watching cruises, scuba diving, sailboarding, and hiking through the glorious national parks.
“It really is a beautiful part of the world,” Mr Randall said. “We had been involved with pubs and restaurants, but this was the first accommodation business that we had, and honestly running this building was the greatest goal we’ve ever kicked.”
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