Cairns City, Queensland

Extremely profitable and rare commercial management rights opportunity | Resort Brokers ID : MR008016

$2,450,000

Business Description

Cairns Night Markets is a thriving business attracting 2.7 million people annually through its doors, assisting greatly in attaining a high occupancy rate of 96% throughout the property.

Boasting an extremely large net profit in excess of $400k, this is a terrific opportunity for an operator seeking the benefits of a management rights business without the residential aspect involved from an accommodation point of view. As there is no residence to purchase, there is no residential requirement.

Additionally, there are no set office hours. The agreements require administrative duties only, with Body Corporate providing payment for cleaning duties. This is an outstanding business opportunity for a commercially minded person.

- Consistent year on year profit growth
- Body Corporate Salary in excess of $100k Net Profit
- Net Profit in excess of $400k
- Administrative duties only listed in agreements
- Body Corporate pay additional for cleaning duties
- Foot traffic through markets - 2.7 million annually
- 22 years remaining on agreements
- Income derived from Owner Occupiers and Tenants alike
- 96% occupancy
- Inspections by appointment only
Date updated: 01 Dec 2023 00:00:07

Business Summary

Business Snapshot

Price: $2,450,000 Net Profit: $401,679 Remuneration / Body Corp Salary: $107,714

Managers Unit

Value of Managers Apartment: $450,000Office: On Title

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 131Total Units in Letting Pool: 64Holiday Units: 64Owner Occupy Units: 56Agreement Term Remaining: 22 years

Marketing Agent

Shane Croghan

ResortBrokers

Key Investment Insights

1. High occupancy rate of 96%.
2. Large net profit in excess of $400k.
3. No residential aspect involved, making it ideal for a commercially minded person.
4. No set office hours.
5. Administrative duties only listed in agreements.
6. Body Corporate pays additional for cleaning duties.
7. Consistent year on year profit growth.
8. Income derived from both owner occupiers and tenants.
9. 22 years remaining on agreements.
10. Foot traffic through markets - 2.7 million annually.
11. Office on title.
12. Complex type: resort/holiday.
13. Total units in complex: 131.
14. Total units in letting pool: 64.
15. Holiday units: 64.
16. Owner occupy units: 56.
17. Agreement term remaining: 22 years.
18. Inspections by appointment only.

Management Rights Multiplier: 4.98
ROI Estimate: 20.08%