Coolangatta, Queensland
ICONIC HOLIDAY COMPLEX - RAINBOW BAY - HIGH NET PROFIT
$5,100,000
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: $5,100,000
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. Prime beachfront location in a premier holiday destination in Queensland.
2. 52 spacious apartments, 41 of which are in the letting pool.
3. High net profit of $618,998.
4. Recently refurbished units.
5. Unique 15-year agreement fully topped up.
6. No set office hours.
7. Strong repeat business with a high percentage of direct bookings.
8. Modern 2-level, 2-bedroom manager's apartment with ocean views.
9. Complex includes pool, tennis court, and WIFI.
10. Manager's apartment valued at $1,400,000.
11. Body corp salary of $78,081 with annual CPI review.
12. Total of 52 units in complex, with 2 owner-occupied units and 8 lockup units.
13. Long-term agreement with 15 years remaining.
14. Pet-friendly complex.
15. Perfect business opportunity with excellent systems in place.
