Airlie Beach, Queensland

Perfectly Positioned with Sweeping Whitsunday Island Views

$2,200,000

Business Description

Discover Sea Star Apartments, a remarkable holiday property boasting a prestigious 4.5-star recognition. Perched on the hillside in the heart of Airlie, it offers unobstructed, secure views of the Coral Sea and gateway to the 74 Whitsunday islands. While conveniently close to shops and restaurants, Sea Star maintains a tropical, serene and private ambience.
The property features a superb, infinity-edged swimming pool and spa, meticulously maintained.
This prime business demonstrates substantial growth and includes a spacious 3-bedroom, 2-bathroom manager's apartment featuring a balcony and a generous rooftop area with stunning ocean views, ensuring comfort, functionality and resort-style living. Additionally, a large reception area, office space and laundry room are included on the title, facilitating professional and efficient management.
Pets have been approved by the body corporate, adding to the property's appeal. With sound agreements, a salary adjusted to CPI, and low-maintenance property operations, Sea Star Apartments presents a compelling investment opportunity in a thriving location.
Sea Star Apartments presents an opportunity to embrace the burgeoning growth of the Mediterranean-like paradise that defines the Whitsundays.

Contact Calvin for full property information.

Business Summary

Business Snapshot

Price: $2,200,000 Net Profit: $326,000 Remuneration / Body Corp Salary: $56,886Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $1,050,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Spacious 229m 3 bedroom 2 bathroom apartment with rooftop barbecue area with spectacular ocean and island views.

Complex Information

Complex Type: HolidayStar Rating: 4.5Total Units in Complex: 25Total Units in Letting Pool: 18Owner Occupy Units: 2Outside Agent Units: 3Lockup Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesSpa: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Prime location in the heart of Airlie, with unobstructed views of the Coral Sea and 74 Whitsunday islands.
2. Prestigious 4.5-star recognition and well-maintained property.
3. Infinity-edged swimming pool and spa, adding to the resort-style living experience.
4. Spacious 3-bedroom, 2-bathroom manager's apartment with balcony and rooftop area.
5. Low-maintenance property operations and sound agreements.
6. Pets are approved by the body corporate, increasing the property's appeal.
7. Manager's remuneration adjusted to CPI annually.
8. Opportunity to embrace the growing tourism market in the Whitsundays.
9. Manager's apartment valued at $900,000.
10. Complex features 25 units with 18 in the letting pool and 2 owner-occupied units.
11. Agreement module is accommodation with 22 years remaining.
12. Amenities such as pool, spa, BBQ area, and WIFI are available for guests.

Management Rights Multiplier: 3.53
ROI Estimate: 28.35%