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 on 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 $218,355.

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 $403,000

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
Scott Saunders

Premier Business Sales

Premier Business Sales

Key Investment Insights

1. Fantastic permanent MR complex located close to the Gold Coast's popular Broadwater.
2. 156 lots consisting of 3 bedroom townhouses and 2 and 3 bedroom units.
3. Manager's residence with 3 bedrooms, 2 bathrooms, ducted air conditioning, and 2 car parks.
4. Large office on title with additional rear office space, air conditioning, kitchenette, and toilet.
5. No set office hours in agreements.
6. No requirement to live onsite.
7. 25 year Accommodation module agreements with 20 years remaining.
8. Body Corporate remuneration of $218,355.
9. Complex facilities include 2 swimming pools, steam room, spa, media room, gym, and security gates.
10. Potential to increase net profit through internal real estate sales, 20 outside agents, and a maintenance-minded purchaser.
11. Net profit of $403,000.
12. Manager's apartment valued at $750,000 with 3 bedrooms, 2 bathrooms, and 2 car spaces.
13. Complex type is permanent with a total of 156 units, 55 in the letting pool, and 80 owner-occupied.
14. Accommodation module agreement with a term of 25 years and 20 years remaining.
15. Complex amenities include a pool, spa, sauna, gym, BBQ area, and function facilities.

Management Rights Multiplier: 5.58
ROI Estimate: 17.93%

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