Biggera Waters, Queensland

Management Rights on the Water with Three Bedroom Unit

$1,879,000

Business Description

A unique opportunity is available for those who wish to live and work on one of the Gold Coasts spectacular waterways. This immaculately presented complex has had all the hard work done for new owners to reap the rewards.

This Biggera Waters business is centrally located to the Broadwater, Harbour Town Premium Outlet, a short drive to Theme Parks and sporting venues. Your leisure time will be a treat enjoying the wonderful facilities including two Pools (one heated), two Spas, Half Size Tennis Count, BBQ Area all overlooking the beautiful waterway. It also offers secure underground parking, boat ramp and pontoon providing direct water access.

With a healthy Body Corporate renumeration of $115k, a mix of both holiday and permanent units in the letting pool and NO Set Office Hours on the caretaking and letting agreement, this will suit any duo who are looking for flexibility.

The recently renovated managers unit boasts three bedrooms plus two bathrooms, two balconies and two car spaces.

Thanks to its prime location, this business enjoys popularity among sizeable sports and community groups as well as a substantial number of returning guests which is reflected in the forward bookings already in place for 2024.

This opportunity is attractively priced, don't let this gem slip through your fingers – schedule an inspection today!

Net Profit: $224,048

Property Code: 12

Business Summary

Business Snapshot

Price: $1,879,000 Net Profit: $224,048 Remuneration / Body Corp Salary: $115,528Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $775,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

3 Bedrooms, 2 Bathrooms (recently renovated), ground floor, 2 Car Spaces, 2 Balconies

Complex Information

Complex Type: HolidayTotal Units in Complex: 65Total Units in Letting Pool: 24Owner Occupy Units: 26Outside Agent Units: 8Lockup Units: 6Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesSpa: YesTennis Court: YesBBQ Area: YesMarina Berth: Yes

Marketing Agent

Craig Johnson

Hotel Resort Sales

Key Investment Insights

Key Insights:

1. Located in Biggera Waters, a popular tourist destination on the Gold Coast with easy access to the Broadwater, Harbour Town Premium Outlet, and theme parks.
2. Immaculately presented complex with all the hard work already done for new owners to reap the rewards.
3. Offers a mix of both holiday and permanent units in the letting pool, providing a diverse income stream.
4. No set office hours on the caretaking and letting agreement, allowing for flexibility for the managers.
5. Healthy Body Corporate remuneration of $115k.
6. Recently renovated managers unit with three bedrooms, two bathrooms, and two car spaces.
7. Prime location attracts sizeable sports and community groups as well as returning guests, resulting in strong forward bookings.
8. Attractively priced opportunity with a net profit of $224,048.
9. Complex features two pools (one heated), two spas, a half-size tennis court, BBQ area, secure underground parking, boat ramp, and pontoon for direct water access.
10. Manager's apartment valued at $775,000 and allows pets.
11. Complex type is holiday with a total of 65 units, 24 units in the letting pool, and 26 owner-occupied units.
12. Agreement module is accommodation with a remaining term of 18 years out of 25 years.
13. Additional amenities include a marina berth for boat access.

Management Rights Multiplier: 4.93
ROI Estimate: 20.29%