Coolangatta, Queensland
ICONIC HOLIDAY COMPLEX - RAINBOW BAY - HIGH NET PROFIT
SOLD
Business Description
Outstanding beachfront business opportunity exists for new owners of this iconic complex in Rainbow Bay. The property is located in what is fast becoming one of the premier holiday destinations in Queensland. Apartments are spacious, north facing, 2-bedroom and 3-bedroom with breath-taking ocean views all the way to Surfers Paradise and with world famous Snapper Rocks surf break at the doorstep.
The building consists of a total of 52 apartments, 41 of which are in the letting pool. Over the past 2 years, a number of units have been refurbished and the complex presents beautifully. The new managers will appreciate the benefits of the hard work already done.
This is 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 a fantastic percentage of direct bookings.
All this and a beautiful modern 2- level 2-bedroom managers apartment with ocean views, a deck and courtyard space for entertaining.
- High Net Profit $618,998
- One of the best locations on the Gold Coast
- Unique 15 Year Agreement Fully Topped Up
- No Set Office Hours
- Strong Repeat Business
- Recently Renovated Holiday Units
- 2 Level Manager's Apartment with Ocean Views
This complex is a must to inspect, call now to arrange a time!
Property Code: 1313
Business Summary
Business Snapshot
Price: SOLD
Remuneration / Body Corp Salary: $78,081Body corp salary review: CPI Annually
Managers Unit
Value of Managers Apartment: $1,400,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: Exclusive UsePets OK: YesStylish two level 2-bedroom 2-bathroom unit with ocean views, a deck off the upper level and a private courtyard on the lower. 1 car space
Complex Information
Complex Type: HolidayTotal Units in Complex: 52Total Units in Letting Pool: 41Owner Occupy Units: 2Lockup Units: 8Manager Units: 1Agreement Term: 15 yearsAgreement Term Remaining: 15 yearsPool: YesTennis Court: YesWIFI: Yes
Key Investment Insights
1. High reported net profit of $618,998, indicating strong cashflow potential.
2. Located on Rainbow Bay with direct beachfront position, north facing apartments and ocean views to Surfers Paradise, high location appeal for holiday market.
3. Close proximity to world famous Snapper Rocks surf break, supporting strong coastal tourism demand.
4. Large complex scale, 52 apartments in total, with 41 units in the letting pool, providing diversified revenue streams.
5. Recent refurbishments to a number of units, complex presents beautifully, reducing immediate CapEx for new owners.
6. Long term 15 year agreement, fully topped up, with 15 years remaining, offering contractual income stability.
7. Strong repeat business and a high percentage of direct bookings, implying lower marketing costs and guest loyalty.
8. Managerial convenience, no set office hours and established systems in place, facilitating operational efficiency.
9. Onsite two-level manager’s apartment valued at $1,400,000, 2 bedrooms, 2 bathrooms, ocean views, deck and private courtyard, with exclusive office use and 1 car space.
10. Additional complex amenities include pool, tennis court and WiFi, enhancing guest experience and competitiveness.
11. Business snapshot shows manager remuneration/body corp salary of $78,081 with CPI annual review, providing predictable owner/manager income.
12. Ownership mix includes 2 owner-occupy units and 8 lockup units, indicating some owner presence and storage capacity within the complex.
