Airlie Beach, Queensland

Very Attractive Business With Potential Upside

$1,499,000

Business Description

Asking Price now $1,499,000, equating to a multiple under 2.7

Here is an outstanding opportunity to acquire your own holiday letting management rights business in The Whitsundays – Airlie Beach.

Situated at the water’s edge adjacent to the award-winning Coral Sea Marina, Shingley Beach Resort is built into the hill scape and surrounded by a natural amphitheatre, highlighting the stunning ocean views. The Airlie Beach bi-centennial boardwalk across the road winds around the coastline and makes for a short easy ground level stroll to the main street or Cannonvale Beach, about 15 minutes. Local cafes, shops and eateries are close by and part of your amazing journey. Being very close to the Coral Sea Marina Berth is very advantageous.

With 32 units in the complex of which 21 are in the letting pool, the business would be ideal for a couple seeking a solid and well proven business, and with recently upgraded office equipment and business systems, the upside potential is very positive. There is an excellent combination of studio, 1, 2 and 3 bedroom self-contained apartments, ensuring long stays with events and group bookings alike, especially romantic getaways.

The guest reception is fresh, air-conditioned and spacious with marina views and boasts one of the best tour offices in town. It combines the Shingley Beach Shop, which offers cold drinks, snacks and ice cream for sale to guests, as well as basic amenities. The reception is modern with 5 flat screen TV’s, tour wall and a charging and workstation for guests offering free WIFI.

The pet approved manager’s apartment is 2 bedroom, fully tiled and air-conditioned, includes a managers car park and private patio deck with marina and ocean views. The freehold also includes 2 high ceiling double lock up garages to the side of the resort to store your boats, cars, jet skis or lease for extra income.

The business is a consistent performer delivering profits year on year with 18 years remaining on both management rights and a new 2024 modernized caretaking agreement, which includes a minimum annual salary increase of 4%. In accordance with legislation, these agreements may be topped up by up to five years in any one year.

Shingley Beach Resort is a must-see opportunity for anyone seeking that sea-changing lifestyle with huge upside potential still to be realised. The prospect to live, work and enjoy the resorts lifestyle in one of Australia’s most sought-after holiday regions can only be a dream to some.

Business Summary

Business Snapshot

Price: $1,499,000 Net Profit: $315,400 Remuneration / Body Corp Salary: $124,800

Managers Unit

Value of Managers Apartment: $650,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Excellent and very private, 2 bedroom, 2 bathroom managers apartment with private outdoor patio and direct access to the office / reception. Plenty of storage including option to have a third bedroom. Two lockable carparks. Included is a 2009 Renault Kango housekeeping vehicle – ideal for transfers and deliveries. Manager’s pet welcome.

Complex Information

Complex Type: HolidayTotal Units in Complex: 32Total Units in Letting Pool: 21Owner Occupy Units: 4Outside Agent Units: 6Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesFunction Facilities: Yes

Marketing Agent

Geoff Ellis

0432 79....

North Queensland Management Rights

Key Investment Insights

1. Located in the highly sought-after holiday destination of Airlie Beach, in the Whitsundays.
2. The business is situated at the water's edge, with stunning ocean views and a natural amphitheatre setting.
3. The complex has 32 units, with 21 in the letting pool.
4. Recently upgraded office equipment and business systems offer potential for increased profits.
5. Excellent mix of studio, 1, 2, and 3 bedroom self-contained apartments, catering to long stays and group bookings.
6. The guest reception is modern and spacious, with marina views and a well-equipped tour office.
7. The manager's apartment is 2 bedroom, fully tiled, and air-conditioned, with a private patio deck and ocean views.
8. The freehold also includes 2 high ceiling double lock-up garages for additional income.
9. The business has a consistent track record of profits, with 18 years remaining on management rights and a new caretaking agreement.
10. The caretaking agreement includes a minimum annual salary increase of 4% and can be topped up by up to 5 years in any one year.
11. The complex is pet-friendly, allowing for a manager's pet.
12. The manager's apartment is valued at $650,000.
13. The complex is a holiday complex, with 32 units in total, including 21 in the letting pool, 4 owner-occupied units, and 6 outside agent units.
14. The agreement module is accommodation, with a term of 25 years and 18 years remaining.
15. The complex has a pool and function facilities.
16. The business offers the opportunity for a sea-change lifestyle in one of Australia's most sought-after holiday regions.

Management Rights Multiplier: 2.69
ROI Estimate: 37.15%