Cairns, Queensland

Look No Further

$995,000

Business Description

Budget friendly well managed stable business with attractive easily maintained grounds.
Great flexibility of room type. The fifteen apartments in the letting pool are dual key, providing 30 keys.
Good wholesaler networks in place and high volume of longer term Corporate clients.
Located on the Bruce Highway, this excellent, well built property was opened in the 1990s and comprises 3 buildings, a salt water pool, tennis court, secure parking, also complemented by shady gazebo and BBQ area.
The business provides all the best features of the industry and astute operators will wish to view.
Manager is approved to reside offsite and if buyer elects to do so and rent the 2 units, this would then provide considerable additional income over and above the net profit shown.
Manager pet okay.
Motivated Vendors of seventeen years, are ready to retire.
Opportunities abound in this property which is currently showing 20% plus return on total overall Investment (including the price of the owner apartment, much higher if based on business investment only - and a low market business multiplier of 2.6 x the net profit.

Contact Calvin today for further information and to arrange your inspection.

Business Summary

Business Snapshot

Price: $995,000 Net Profit: $188,951 Remuneration / Body Corp Salary: $56,961Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $500,000Bedrooms: 4Bathrooms: 2Car Spaces: 4Office: On TitlePets OK: Yes

Includes Lots 30 31 â comprising 2 lower floor Units 217m2 including 4 bedrooms, full kitchens and living areas plus private courtyard. Also included Office and 4 Garages on title.

Complex Information

Complex Type: HolidayTotal Units in Complex: 30Total Units in Letting Pool: 15Owner Occupy Units: 13Manager Units: 2Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesTennis Court: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Budget-friendly and well-managed stable business with attractive and easily maintained grounds.
2. Flexibility of room types with 15 apartments in the letting pool, providing 30 keys.
3. Good wholesaler networks in place and a high volume of longer-term corporate clients.
4. Located on the Bruce Highway with 3 buildings, a salt water pool, tennis court, secure parking, and other amenities.
5. Manager is approved to reside offsite, providing potential for additional income if the two units are rented out.
6. Manager pet-friendly.
7. Motivated vendors of 17 years are ready to retire.
8. Opportunities for growth and potential for high return on investment.
9. Low market business multiplier of 2.6x the net profit.
10. Manager's apartment includes 2 lower floor units with 4 bedrooms, full kitchens, living areas, and a private courtyard.
11. Complex type is holiday with a total of 30 units, 15 in the letting pool, and 13 owner-occupied.
12. Agreement module is accommodation with a term of 25 years and 24 years remaining.
13. Complex amenities include a pool, tennis court, BBQ area, and WIFI.

Management Rights Multiplier: 2.62
ROI Estimate: 38.17%