Key Investment Insights
1. The Golden Sands Beachfront Resort is a fully self-contained apartment complex with a mix of short-term holiday rentals and longer-term rentals.
2. The resort is located in the tranquil suburb of Yorkeys Knob, just north of Cairns, offering a quiet beachfront location away from the hustle and bustle.
3. The resort is only a 1-minute walk to the pristine Yorkeys Knob Beach, making it a highly desirable location for tourists and residents.
4. The property is also close to major attractions such as the Half Moon Bay Golf Course and the Skyrail Rainforest Cableway.
5. The manager's unit is a spacious 3-bedroom ground floor apartment with a private patio and recent updates to air conditioning and hot water.
6. The resort also has an additional source of income from a leased out restaurant, providing an extra $37,700 per year.
7. The manager's unit can also be occupied by a nominee, allowing for a more passive management style.
8. The business has a solid net profit and long-term agreements, making it a highly profitable and stable investment opportunity.
9. The manager's unit is valued at $660,000 and the total asking price for the business and unit is $1.396 million.
10. The complex has 32 units, with 19 currently in the letting pool and 8 owner-occupied units.
11. The management agreement has a term of 25 years with the full term still remaining.
Management Rights Multiplier: 3.36
ROI Estimate: 29.76%
