Coolangatta, Queensland

Beautiful Coolangatta

$1,675,000

Business Description

Located on the Southern Gold Coast and overlooking one of the greatest surfing beaches of the world. This rare north facing beach is an extremely popular holiday destination for both families and surfing enthusiasts alike. The Gold Coasts enviable weather and Rainbow Bays regular surfing events ensures an excellent occupancy rate with a very high percentage of that repeat business. The business is a very manageable size with only 24 units in the building and 18 of these in the rental pool. Established cleaning staff are employed. The majority of the units are finished to a high standard, all are generous in size and have outstanding water views over the Bay. The building is well maintained with exclusive use office/reception, swimming pool and spa. Ample storage areas for surf equipment recognizes the close relationship this building has with the surfing fraternity. Supportive and friendly community of like minded management rights operators socialize and promote Rainbow Bay together. Full training is offered by outgoing managers. Very difficult to describe just how good this business is and inspection is a must for those considering a sea and lifestyle change! Net profit $220+K, Unit $875K, Management Rights $800K Total Price $1,675,000.
The unit is bright and breezy with a wrap around yard. The yard is huge and very private. Perfect for children or dogs. Its a beautiful unit, very rare to have such a huge back yard.

Email me for pictures

Kerrie Lush ----------

Business Summary

Business Snapshot

Price: $1,675,000 Net Profit: $199,278 Remuneration / Body Corp Salary: $40,478

Managers Unit

Value of Managers Apartment: $875,000Bedrooms: 2Bathrooms: 2Car Spaces: 1

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 24Total Units in Letting Pool: 18Holiday Units: 18Owner Occupy Units: 4Lockup Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 19 years

Marketing Agent

Kerrie Lush

RAAS Property Group

Key Investment Insights

1. Prime location on the Southern Gold Coast, overlooking a popular surfing beach.
2. High occupancy rate with a large percentage of repeat business.
3. Manageable size with only 24 units in the building and 18 in the rental pool.
4. Established cleaning staff employed.
5. Majority of units finished to a high standard with generous sizes and water views.
6. Well-maintained building with exclusive use office/reception, swimming pool, and spa.
7. Ample storage areas for surf equipment, catering to the surfing community.
8. Supportive and friendly community of like-minded management rights operators.
9. Full training offered by outgoing managers.
10. Large and private wrap-around yard, perfect for children and pets.
11. Rare opportunity to own a unit with a huge backyard.
12. Net profit of $199,278 and remuneration/body corp salary of $40,478.
13. Managers' unit valued at $875,000 with 2 bedrooms, 2 bathrooms, and 1 car space.
14. Complex type is resort/holiday with 18 holiday units, 5 owner-occupied units, and 1 lockup unit.
15. Long agreement term of 25 years with 19 years remaining.

Management Rights Multiplier: 4.01
ROI Estimate: 24.91%