Biggera Waters, Queensland

Position and Proximity!!

Under Contract / Offer

Business Description

Large Modern 3 Level Terrace Home on a Double Block!!

A complex located close to Harbour Town shopping centre that offers many facilities including outlet retail shopping, quality dining, with entertainment and movie cinemas. Within only approximately a 10 minute drive to Griffith University and the Gold Coast University Hospital.

A small boutique complex with low BC fees, a pool with an entertainment area, and the convenience of being close to one of the bigger shopping precincts on the Gold Coast. Images might not depict this complex.

On offer: long term agreements, no fixed hours, no need to live onsite, $37,000 rental income not included in figures and a low multiplier.

Manager's double block terrace home features include; Ground floor with a large tandem garage, laundry & lots of storage, fully fenced private courtyard and additional parking for 3 cars. The first floor consists of a large open plan kitchen, dining & living areas with a huge private terrace for entertaining and powder room. The second floor consists of 3 large bedrooms all with built in robes, the master bedroom with a beautifully appointed ensuite, fully ducted air conditioning with ceiling fans in all bedrooms. All this and an adjoining on title office.

To arrange an inspection please call: Gavin

Disclaimer: We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.

Business Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $88,000 Remuneration / Body Corp Salary: $49,000

Managers Unit

Value of Managers Apartment: $1,200,000Bedrooms: 3Bathrooms: 2Car Spaces: 4Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 33Total Units in Letting Pool: 12Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: Yes

Marketing Agent

Gavin Mattig

0409 60....

Gavern Property - Management Rights

Key Investment Insights

1. Prime location close to Harbour Town shopping centre, with outlet retail, dining, entertainment and cinemas, approximately 10 minutes to Griffith University and Gold Coast University Hospital.
2. Small boutique complex of 33 units, only 12 in the letting pool, suggesting limited internal competition for bookings.
3. Long term accommodation agreements in place, 25 year term with approximately 23 years remaining, providing revenue stability.
4. Net profit reported at $88,000, with remuneration/body corporate salary of $49,000.
5. $37,000 of rental income from the manager’s unit is excluded from listed figures, potentially enhancing total income.
6. Manager’s on-title double block terrace apartment valued at $1,200,000, comprising 3 bedrooms, 2 bathrooms, an office on title, and pets permitted.
7. Operational flexibility, with no fixed hours and no requirement to live onsite, reducing management burden.
8. Low body corporate fees and a low multiplier noted, indicating potentially favourable operating costs and valuation metrics.
9. Complex amenities include a pool and entertainment area, enhancing guest appeal.
10. Manager’s residence offers strong functional features, including large tandem garage, laundry and storage, fully fenced private courtyard, additional parking for 3 cars, and a huge private terrace for entertaining.
11. Comfort and quality fittings in the manager’s unit, with fully ducted air conditioning, ceiling fans in all bedrooms, built-in robes in all bedrooms, and a master ensuite.
12. Property status listed as under contract / offer, signalling current buyer interest and limited availability.

Management Rights Multiplier: 2.27
ROI Estimate: 6.29%