Coolangatta, Queensland

OUTSTANDING HIGH NET PROFIT HOLIDAY COMPLEX - STUNNING RAINBOW BAY

SOLD

Business Description

This Complex is located in arguably the one of the best positions on the Southern Gold Coast. With spacious, north facing, 2-bedroom ensuite fully self-contained apartments all with breath-taking ocean views and with world famous Snapper Rocks surf break at the doorstep.

The building consists of a total of 32 apartments, 24 of which are in the letting pool. Over the past 7 years, the building has undergone a number of upgrading projects and the complex presents beautifully. The new managers will appreciate the benefits of the hard work already done.

Bayview represents the perfect business, with high net profit, excellent systems in place, no set office hours and long agreements. The complex enjoys outstanding repeat business with 45% of rooms already booked for 2023.

All this and a beautiful modern 2-bedroom managers apartment with an outstanding outdoor space for entertaining.

- 22 years remaining on agreements

- No set office hours

- Amazing location

- Building presents beautifully with a pro-active Body Corp

- Excellent modern 2 bedroom, 2 bathroom apartment with ocean views.

- 45% forward bookings for 2023

- Outstanding buying

- Net profit $464,000

Call now to book an inspection you will not be disappointed.

Property Code: 1072

Business Summary

Business Snapshot

Price: SOLD Net Profit: $464,492 Remuneration / Body Corp Salary: $70,603Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $950,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Complex Information

Complex Type: HolidayTotal Units in Complex: 32Total Units in Letting Pool: 24Owner Occupy Units: 3Lockup Units: 4Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 Years yearsPool: YesSpa: YesSauna: YesTennis Court: YesGames Room: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Scott Saunders

Premier Business Sales

Key Investment Insights

1. Prime location in one of the best positions on the Southern Gold Coast
2. Spacious, north facing, 2-bedroom ensuite fully self-contained apartments with breath-taking ocean views
3. World-famous Snapper Rocks surf break at the doorstep
4. 32 apartments in total, with 24 in the letting pool
5. Recent upgrading projects have improved the complex's appearance
6. High net profit and excellent systems in place
7. No set office hours for managers
8. Long agreements with 22 years remaining
9. Outstanding repeat business with 45% of rooms already booked for 2023
10. Modern 2-bedroom managers apartment with ocean views and outdoor entertaining space
11. Pro-active Body Corp maintaining the building's presentation
12. Net profit of $464,000
13. Managers unit valued at $950,000
14. Complex type: holiday accommodation
15. Total units in complex: 32, with 24 in the letting pool
16. Agreement module: accommodation, with 25 years term and 22 years remaining
17. On-site amenities include pool, spa, sauna, tennis court, games room, and BBQ area
18. WIFI available for guests.

Management Rights Multiplier: 5.20
ROI Estimate: 19.23%