Airlie Beach, Queensland

Very Attractive Business With Potential Upside

Under Contract / Offer

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: Under Contract / Offer 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. Asking price $1,499,000, representing a multiple under 2.7 and potential upside.
2. Proven profitable business, net profit $315,400 with remuneration/body corporate salary $124,800.
3. Long-term agreements in place, 18 years remaining on management rights and a 2024 caretaking agreement, agreement term originally 25 years.
4. Caretaking agreement includes a minimum annual salary increase of 4%, with ability to top up agreements by up to five years in any one year under legislation.
5. Prime waterfront location adjacent to Coral Sea Marina, marina views from reception and manager’s apartment, easy stroll via the bi-centennial boardwalk to the main street and Cannonvale Beach.
6. Resort built into hillscape with natural amphitheatre, highlighting ocean views and strong location appeal for holiday market.
7. 32-unit complex with 21 units in the letting pool, mix of studio, 1, 2 and 3 bedroom self-contained apartments suited to long stays, events, groups and romantic getaways.
8. Modern, air-conditioned guest reception with marina views, one of the best tour offices in town, five flat screen TVs, tour wall, guest workstation and free WiFi; includes onsite shop selling cold drinks, snacks and ice cream.
9. Manager’s apartment on title valued at $650,000, 2 bedrooms and 2 bathrooms, air-conditioned, private patio, direct office access, pets approved and two lockable car spaces.
10. Freehold includes two high ceiling double lock up garages for boats, cars or jet skis, offering storage or lease income potential.
11. Recently upgraded office equipment and business systems, presenting operational efficiencies and further upside potential.
12. Business is turnkey and owner-operator friendly, ideal for a couple seeking lifestyle ownership with established income and growth opportunities.

Management Rights Multiplier: 2.69
ROI Estimate: 37.15%