Coolangatta, Queensland

OUTSTANDING HIGH NET PROFIT HOLIDAY COMPLEX - STUNNING RAINBOW BAY

Under Contract / Offer

Business Description

This prestigious holiday complex is located in arguably one of the best positions on the Southern Gold Coast. It features spacious, north facing, 2-bedroom ensuite fully self-contained apartments all with breath-taking ocean views and the world famous Snapper Rocks surf break right 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, long agreements and outstanding repeat business.

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

- Topped Up 25 years agreement

- No set office hours

- Amazing location

- Building presents beautifully with a pro-active Body Corp

- Modern 2 bedroom, 2 bathroom apartment with ocean views.

- Great repeat bookings

- Net profit $436,261

- Outstanding Buying

The complex is located in Rainbow Bay, Coolangatta on the southern tip of the beautiful Gold Coast.

Directly across from one of the best surf beaches in the world Snapper Rocks, close to popular cafes and restaurants and only 10 minutes to Gold Coast Airport, these standout holiday apartments are in a perfect position to explore everything the pristine Southern Gold Coast has to offer.

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

Property Code: 1332

Business Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $436,261 Remuneration / Body Corp Salary: $81,702Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $1,300,000Bedrooms: 2Bathrooms: 2Office: On TitlePets OK: Yes

A renovated, spacious, light and airy two-bedroom and ensuite ground floor manager’s unit with a beautiful outdoor entertaining area.

Complex Information

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

Marketing Agent

Scott Saunders

Premier Business Sales

Key Investment Insights

1. The holiday complex is located in a prestigious position on the Southern Gold Coast, with stunning ocean views and direct access to the famous Snapper Rocks surf break.
2. The building consists of 32 apartments, 24 of which are in the letting pool.
3. The complex has undergone multiple upgrading projects in the past 7 years and is well-maintained.
4. The business has high net profit and excellent systems in place.
5. The managers have no set office hours and enjoy a long 25-year agreement.
6. The modern 2-bedroom managers apartment has ocean views and a spacious outdoor entertaining area.
7. The complex has a pro-active Body Corporate and presents beautifully.
8. The location is ideal for exploring the Southern Gold Coast, with popular cafes and restaurants nearby and only 10 minutes from the Gold Coast Airport.
9. The complex offers great repeat bookings and has outstanding buying potential.
10. The managers unit is valued at $1,300,000 and is pet-friendly.
11. The complex is a holiday type with 24 units in the letting pool and a mix of owner-occupied, outside agent, and lockup units.
12. The complex has a range of amenities including a pool, spa, sauna, tennis court, games room, BBQ area, pay TV, and WIFI.

Management Rights Multiplier: 5.20
ROI Estimate: 19.23%