Chevron Island, Queensland

Retiring Seller - Owner Must Sell!

SOLD

Business Description

Work an hour a day* for $50,000+pa*

It doesn't get more central than Chevron Island. Connected by two bridges to Southport and Surfers Paradise, both within walking distances, this opportunity is primed for growth. Already a thriving area with small businesses, café, restaurants, bars and boutiques lining the main street, you won't find a better opportunity.

My Seller is retiring and has already purchased elsewhere, and so is exceptionally motivated to sell. I am under instructions to present offers. Make your offer today!

* $50,853* FY2022 Net Operating Profit (NOP)
* $30,744* per annum current Caretaker salary with CPI annual increases
* 16 years left on caretaker and letting agreements - expiry in 2038
* 11 units out of the 22-unit complex are in permanent letting pool
* Manager's unit is over 30%* larger than other units in the complex and includes basement storage room and 1 car park
* Your option to value-add holiday letting to the existing permanent pool
* Motivated seller is retiring and has purchased elsewhere

A golden opportunity that is an absolute must to inspect. An ideal entry-level management rights business with flexible and low working hours. Perfect as a second income or an easy lifestyle. My Seller is not testing the market, this will be sold.

*Approx.

Disclaimer:
Ray White has not independently checked any of the information we merely pass on. We make no comment on and give no warranty as to the accuracy of the information contained in this document which does not constitute all or any part of any offer or contract by the recipient. Prospective purchasers / lessees must rely on their own enquiries and should satisfy themselves as to the truth or accuracy of all information given by their own inspections, searches, inquiries, advices or as is otherwise necessary. No duty of care is assumed by Orchid Avenue Realty trading as Ray White Surfers Paradise Commercial divisions toward the recipient with regard to the use of this information and all information given is given without responsibility.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $50,853

Managers Unit

Value of Managers Apartment: $495,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Pets OK: Yes

Manager's unit is over 30%* larger than other units in the complex and includes basement storage room and 1 car park

Complex Information

Complex Type: PermanentTotal Units in Complex: 22Manager Units: 11Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 16 yearsPool: YesBBQ Area: Yes

Marketing Agent

Craig Cornish

0414897....

Craig Cornish

0414897....

Ray White Commercial Gold Coast

Key Investment Insights

AI generated. Confirm details with the seller.

1. Prime location in Chevron Island, with easy access to Southport and Surfers Paradise.
2. Motivated seller who is retiring and has already purchased elsewhere.
3. Potential for growth and value-add through holiday letting to existing permanent pool.
4. Low working hours and flexible lifestyle.
5. Manager's unit is larger than other units in the complex and includes additional storage and parking.
6. Long-term caretaker and letting agreements in place until 2038.
7. Strong net operating profit of $50,853 for FY2022.
8. Ideal entry-level management rights business.
9. Potential for a second income or easy lifestyle.
10. Well-established and thriving area with small businesses, cafes, restaurants, bars, and boutiques.
11. Opportunity for a new owner to take over and continue the success of the business.
12. All information provided by the seller is accurate and reliable.
13. Manager's unit is pet-friendly.
14. Complex includes amenities such as a pool and BBQ area.
15. Agreement module is accommodation, providing stability for the business.

Management Rights Multiplier: 3.93
ROI Estimate: 7.32%