Key Investment Insights
Key insights:
1. Rare opportunity: The Waters Edge on the Broadwater complex is a rare find on the Gold Coast, as it is a modern waterfront permanent complex. This makes it a unique and desirable property for potential buyers.
2. High standards: The complex was built in 2006 to meet high standards, ensuring that it is a well-maintained and attractive property for residents.
3. Caretaking only business: This is a caretaking only business, meaning that the workload is efficiently handled by a single individual. This makes it an ideal opportunity for someone looking for a manageable and low-stress business.
4. Stunning views: The complex offers stunning views over the Broadwater, which is a major selling point for potential buyers.
5. Strong salary: The salary for the Body Corporate is a robust $136,506, making this a financially attractive business opportunity.
6. Single owner-operator: The complex is currently owned and operated by a single individual, highlighting the manageable workload and potential for a single owner-operator to run the business.
7. Manager's unit: The manager's unit is valued at $795,000 and offers 2 bedrooms, 2 bathrooms, and 2 car spaces. This provides a comfortable and convenient living situation for the manager.
8. Permanent complex: The complex is a permanent complex, meaning that all units are occupied by long-term residents. This provides stability and consistent income for the business.
9. Long agreement term: The agreement term for the complex is 25 years, with 23 years remaining. This provides security and stability for potential buyers.
10. Potential for growth: With only 57 units in the complex, there is potential for growth and expansion in the future. This makes it an attractive investment opportunity for potential buyers.
Management Rights Multiplier: 4.51
ROI Estimate: 22.20%