Burleigh Heads, Queensland

Long Term Vendor Says Sell - Now Priced Below Market - ID 8922

$2,750,000

Business Description

Holiday Management Rights For Sale
Magnificent Holiday Business Only 30 Metres from the Beach in Burleigh Heads

- Body Corporate salary over $109,042

- Building has been fully renovated

- Agreements to be topped up to 10 years prior to settlement

- Large reception and office on title, no set office hours

- Healthy sinking fund of over $800,000 with very little capital works in the pipeline

- Very organised and well run complex, detailed systems in place for new manager

- Impressive 2 bedroom residence

- All units have uninterrupted ocean views

- Excellent Body Corporate and proactive committee

On offer is this iconic high rise holiday building located in the established ocean side suburb of Burleigh Heads, just across the road from one of the best beaches on the Gold Coast. The location and the building facilities generate a large amount of repeat business.

Net Profit: $514,550
Asking Price: $2,750,000
(Inclusive of Manager's Real Estate)

For further information or to arrange an inspection of this Gold Coast Management Rights Business for sale contact:

Management Rights Brokers:
Gerard Dixon & Phil Trimble

Property Code: 772

Business Summary

Business Snapshot

Price: $2,750,000 Net Profit: $514,550 Remuneration / Body Corp Salary: $109,042

Managers Unit

Value of Managers Apartment: $890,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Located on the ground floor away from the large reception/office. Two bedrooms, two bathrooms, Single car space, Comfortable living space, Air conditioning, Ceiling fans, Security screens and large private courtyard. Pet permitted with Body Corporate approval. Reception/office on title and separate from the residence.

Complex Information

Complex Type: HolidayTotal Units in Complex: 62Total Units in Letting Pool: 29Owner Occupy Units: 21Outside Agent Units: 8Lockup Units: 3Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 7 yearsPool: YesSpa: YesSauna: YesGym: YesTennis Court: YesGames Room: YesWIFI: Yes

Marketing Agent

Gerard Dixon

Phil Trimble

MR Sales

Key Investment Insights

Key Insights:

- Body Corporate salary of over $109,042
- Building has been fully renovated
- Agreements to be topped up to 10 years prior to settlement
- Large reception and office on title, no set office hours
- Healthy sinking fund of over $800,000 with very little capital works in the pipeline
- Very organised and well run complex, with detailed systems in place for new manager
- Impressive 2 bedroom residence
- All units have uninterrupted ocean views
- Excellent Body Corporate and proactive committee
- Located in the established ocean side suburb of Burleigh Heads, just across the road from one of the best beaches on the Gold Coast
- Generates a large amount of repeat business due to its location and building facilities
- Net profit of $514,550
- Asking price of $2,750,000 (inclusive of Manager's Real Estate)
- Manager's apartment valued at $890,000
- 29 units in the letting pool out of a total of 62 units in the complex
- 21 owner-occupied units, 8 outside agent units, and 3 lockup units
- Agreement module is standard with a remaining term of 7 years
- Complex amenities include a pool, spa, sauna, gym, tennis court, and games room
- WIFI is also available in the complex.

Management Rights Multiplier: 3.61
ROI Estimate: 27.66%