Cairns, Queensland

Large Contemporary Permanent Cairns

SOLD

Business Description

This permanent Management Rights ticks every box. 25m Lap pool, plus Lagoon pool & children's Pool, BBQ areas, Two gazebos, Gym, Tennis
court, Large Managers Storeroom, Close to JCU University, Schools, Shops and Beaches.

Superb location in Cairns Northern Beaches area.
Huge three bed manager's separate villa residence and fantastic office/reception all on title.
No set office hours, long agreements. Fantastic body corporate salary.
Here is your opportunity to really live the tropical dream.
Exciting & contemporary Cairns gated community in Smithfield. Permanent let property with a total of 111 apartments & villas. A high percentage of rental units are furnished. Units are top quality with extensive facilities and on a large well positioned site in the sought after Northern Beaches of Cairns. Only 15 minutes to the Cairns CBD. Great manager’s three bedroom/two bathroom Villa with quality fittings, plus large office. No set office hours. Good $179,500 exclusive GST salary with CPI increases. Excellent opportunity to get into the industry in a top building with a well-established business. Mix of 6 month and 12 month leases.
Cairns currently has one of the lowest vacancy rates in the country at less than 1% and rental rates are on the rise. No requirement for Manager to reside onsite.
First to inspect will purchase as this is one of Queensland’s best.
Call Alex today for more information on this great business opportunity.
This will not last long. Call us today.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $390,000 Remuneration / Body Corp Salary: $179,500Business Value: $1,660,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $650,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Large 203m2 contemporary three bedroom two bathroom villa and attached office. Double lock up garage.

Complex Information

Complex Type: PermanentTotal Units in Complex: 111Total Units in Letting Pool: 92Owner Occupy Units: 14Outside Agent Units: 4Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesGym: YesTennis Court: YesBBQ Area: Yes

Marketing Agent

Alex Barker-Ré

0414 83....

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Prime location in sought after Northern Beaches area of Cairns.
2. Well-established and highly regarded gated community with 111 apartments and villas.
3. High percentage of furnished rental units.
4. Extensive facilities including lap pool, lagoon pool, children's pool, BBQ areas, gazebos, gym, and tennis court.
5. Large manager's villa with three bedrooms, two bathrooms, and attached office on title.
6. No set office hours and long agreements.
7. Good body corporate salary of $179,500 exclusive of GST with CPI increases.
8. Mix of 6 and 12 month leases.
9. Low vacancy rates in Cairns at less than 1% and rising rental rates.
10. Manager does not need to reside onsite.
11. Manager's villa valued at $650,000.
12. Complex is permanent and has a 25 year agreement with 21 years remaining.
13. Onsite amenities include pool, spa, gym, tennis court, and BBQ area.
14. Excellent opportunity to enter the industry in a top building with a well-established business.

Management Rights Multiplier: 4.26
ROI Estimate: 16.88%