Cairns City, Queensland

Resort Style Living - Upmarket Permanent Property

SOLD

Business Description

Exciting & upmarket Cairns gated community.
Permanent let property with a total of 84 villas,
This stage built property was completed and opened in August 2007.
Top quality units with extensive facilities and on a very large well positioned site in sought after City Views.
Only 4km to the Cairns CBD.
Great manager’s three bedroom/two bathroom villa with quality fittings, plus large office.
Good $186k salary with CPI increases.
No set office hours.
Excellent opportunity to get into the industry in a top building with an excellent established business.
Cairns currently has one of the lowest vacancy rates in the country at 1% and rental rates are on the rise.
Manager not required to reside onsite.
Pet approved by body corporate for Manager Apt.
Contact Alex for further details and property inspection.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $300,000 Remuneration / Body Corp Salary: $186,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $430,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Large modern 148m2 three bedroom two bathroom apartment. Adjacent tot he office. Great fully fenced area of lawn at the rear of this apartment. Overall a very nice living space.

Complex Information

Complex Type: PermanentTotal Units in Complex: 84Total Units in Letting Pool: 59Owner Occupy Units: 25Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 Years yearsPool: YesSpa: YesTennis Court: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Alex Barker-Ré

Calvin Bailey Management Rights

Key Investment Insights

1. Exciting and upmarket gated community in sought after City Views area of Cairns.
2. Permanent let property with 84 villas, built in 2007.
3. Top quality units with extensive facilities.
4. Well positioned site only 4km from Cairns CBD.
5. Manager's three bedroom/two bathroom villa with quality fittings and large office.
6. Good salary of $186,000 with annual CPI increases.
7. No set office hours.
8. Low vacancy rates and rising rental rates in Cairns.
9. Manager not required to reside on site.
10. Pet approved by body corporate for manager's apartment.
11. Manager's apartment valued at $430,000.
12. Complex includes pool, spa, tennis court, BBQ area, and WIFI.
13. Accommodation agreement module with 24 years remaining.
14. Excellent opportunity to enter the industry with an established business.

Management Rights Multiplier: 4.67
ROI Estimate: 21.43%