Coffs Harbour, New South Wales

Iconic Mid North Coast Management Rights Business Opposite the Beach in Coffs Harbour - 1P5731MR

Management Rights $1,225,000

Business Description

EXCLUSIVE TO CRE BROKERS. Coffs Harbour is experiencing enormous growth in the tourism accommodation sector. It is also on the cusp of a long term accommodation boom via a range of long term infrastructure projects already attracting national sporting and cultural events.

The apartments, operated by a husband and wife team, are located directly opposite Coffs Harbour's most popular and patrolled beach, the No.1 Family Hotel and Park Beach Bowls Club

Location Plus: Only a 5 minute walk to a large Retail Shopping Centre, numerous eateries and tourist attractions and 5 km from the airport. A 5 min walk to a brand new aged-care facility that will soon be home to an estimated 700 residents + staff.

If you are looking to secure a thriving business & unit whilst living the lifestyle many people dream about then Tradewinds Family Apartments must be a consideration.

Owner's residence is a large ground floor 2 bedroom 1 bathroom unit with a rear grassed courtyard, ideal for pets and entertaining.

TOTAL NUMBER OF UNITS : 30
UNITS IN LETTING POOL: 11
NET PROFIT : $150,000

REAL ESTATE PRICE : 675,000
BUSINESS PRICE : $550,000
TOTAL ASKING PRICE : $1,225,000

Business Summary

Business Snapshot

Price: Management Rights $1,225,000 Net Profit: $150,000 Remuneration / Body Corp Salary: $46,138Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $675,000Bedrooms: 1Bathrooms: 1Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: MixedTotal Units in Complex: 30Total Units in Letting Pool: 15Holiday Units: 10Permanent Units: 5Owner Occupy Units: 13Outside Agent Units: 2Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 8 yearsPool: YesBBQ Area: Yes

Other Features / Notes

A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:NSW - Central Coast/Hunter

Marketing Agent

Darren Leaney

CRE Brokers

Key Investment Insights

1. Prime location in a popular tourist destination with strong growth potential.
2. Close proximity to various amenities and attractions, including a large retail shopping center and a new aged-care facility.
3. Established and successful business with a net profit of $150,000.
4. Large and spacious owner's residence with potential for pets and entertaining.
5. 30 units in total, with 11 in the letting pool.
6. Mixed complex with a combination of holiday, permanent, and owner-occupied units.
7. On-site facilities such as a pool and BBQ area.
8. Agreement module is standard with 8 years remaining.
9. Potential for further growth through increased marketing and events in the area.
10. Opportunity for a husband and wife team to live and work in a desirable location.

Management Rights Multiplier: 3.67
ROI Estimate: 27.27%