Biggera Waters, Queensland

OUTSTANDING PERMANENT MR COMPLEX IN GREAT LOCATION

$3,000,000

Business Description

Don't miss the opportunity to secure this fantastic permanent MR complex located only metres to the Gold Coast's popular Broadwater.

- 156 lots consisting of 3 bedroom townhouses and 2 and 3 bedroom units

- 3 bedroom, 2 bathroom managers residence, ducted air conditioning, 2 car parks

- Large office on title with additional rear office space, air conditioned, kitchenette and toilet.

- No set office hours in agreements

- No requirement to live onsite

- 25 year Accommodation module agreements with 20 years to run, Body Corporate remuneration $228,512.

Complex facilities include 2 swimming pools, steam room, spa, media room, gym, security gated.

There is huge potential to increase the net profit with internal real estate sales, 20 outside agents and a maintenance minded purchaser.

Net Profit $405,027

Call now for further information or to arrange an inspection.

Property Code: 1276

Business Summary

Business Snapshot

Price: $3,000,000 Net Profit: $403,519 Remuneration / Body Corp Salary: $218,355Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $750,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 156Total Units in Letting Pool: 55Owner Occupy Units: 80Outside Agent Units: 20Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: YesSpa: YesSauna: YesGym: YesBBQ Area: YesFunction Facilities: Yes

Marketing Agent

Scott Saunders

Premier Business Sales

Key Investment Insights

1. Prime location only metres from the popular Broadwater on the Gold Coast.
2. Large complex with 156 lots consisting of a mix of 3 bedroom townhouses and 2 and 3 bedroom units.
3. Spacious 3 bedroom, 2 bathroom manager's residence with ducted air conditioning and 2 car parks.
4. Office on title with additional rear office space, air conditioning, kitchenette and toilet.
5. No set office hours in agreements, providing flexibility for the manager.
6. No requirement to live onsite, allowing for potential for offsite management.
7. Long term accommodation module agreements with 20 years remaining, providing stability and security.
8. Body Corporate remuneration of $228,512, with potential for increase through internal real estate sales and outside agent commissions.
9. Complex facilities include 2 swimming pools, steam room, spa, media room, gym, and security gates.
10. Potential for a maintenance-minded purchaser to increase net profit.
11. Net profit of $405,027.
12. Manager's apartment valued at $750,000.
13. Pet-friendly complex.
14. 156 total units in complex, with 55 in the letting pool and 80 owner-occupied.
15. 20 outside agent units, providing potential for growth.
16. Accommodation module agreement with 25 years remaining.
17. Amenities include pool, spa, sauna, gym, BBQ area, and function facilities.

Management Rights Multiplier: 5.58
ROI Estimate: 17.93%