Airlie Beach, Queensland

Uniquely Designed Beautiful Property with Coral Sea Views

$2,120,000

Business Description

This business is showing a 29% Return on Investment and is a must see.
Next level, nautical style holiday resort with sweeping views of the Whitsunday Islands.
High occupancies.
A stroll down the hill to the village and restaurants.
Fabulous 1, 2 & 3 bedroom elegantly appointed apartments, including the managers.
Good 23+ year agreements with $110,000 exclusive GST salary.
An excellent opportunity for both lifestyle and business in this high growth, picturesque holiday area.
The vendors are motivated and the property is very well priced for sale.
The Body Corporate is very cooperative and supportive of the Manager.
Whitsundays growth continues with further new economic developments now approved by the local council.
The area accommodates over 4 million visitor nights per year.

Business Summary

Business Snapshot

Price: $2,120,000 Net Profit: $441,996 Remuneration / Body Corp Salary: $110,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $620,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: Exclusive UsePets OK: Yes

Spacious 130m2 three bedroom two bathroom apartment with balcony and 2 carparks. This is currently let. The managers currently lease a 2 bedroom apartment. Leaseback cost $2,383 PCM

Complex Information

Complex Type: HolidayTotal Units in Complex: 40Total Units in Letting Pool: 17Owner Occupy Units: 11Outside Agent Units: 9Lockup Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23.5 yearsPool: YesSpa: YesGym: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. High return on investment of 29%.
2. Next level, nautical style holiday resort with beautiful views.
3. High occupancy rates.
4. Convenient location within walking distance to village and restaurants.
5. Elegantly appointed apartments, including manager's unit.
6. Good 23+ year agreements with $110,000 exclusive GST salary.
7. Excellent opportunity for both lifestyle and business in a high growth, picturesque holiday area.
8. Motivated vendors and well-priced property for sale.
9. Supportive and cooperative Body Corporate.
10. Continued growth in the Whitsundays with new economic developments approved.
11. High demand for accommodation in the area with over 4 million visitor nights per year.
12. Manager's unit valued at $620,000 with 3 bedrooms, 2 bathrooms, and 2 carparks.
13. Complex has a holiday accommodation type with a total of 40 units.
14. 17 units in the letting pool, 11 owner-occupied units, and 9 outside agent units.
15. Agreement module is accommodation with a term of 25 years and 23.5 years remaining.
16. On-site amenities include a pool, spa, gym, BBQ area, and WIFI.

Management Rights Multiplier: 3.39
ROI Estimate: 29.47%