Coolangatta, Queensland

OUTSTANDING HIGH NET PROFIT HOLIDAY COMPLEX - STUNNING RAINBOW BAY

$3,568,550

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: $3,568,550 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. Located in one of the best positions on the Southern Gold Coast with stunning ocean views and the famous Snapper Rocks surf break at the doorstep.
2. 32 apartments in total, with 24 in the letting pool.
3. Recent upgrades and renovations have been completed, making the complex well-maintained and visually appealing.
4. High net profit and excellent systems in place.
5. No set office hours, providing flexibility for the managers.
6. Modern 2-bedroom, 2-bathroom managers apartment with ocean views.
7. Strong repeat business and high occupancy rates.
8. Long 25-year agreement in place.
9. Pro-active Body Corp.
10. Located in Rainbow Bay, Coolangatta, a popular tourist destination with a variety of amenities and attractions.
11. Directly across from one of the best surf beaches in the world.
12. Manager's apartment valued at $1,300,000.
13. Complex includes a pool, spa, sauna, tennis court, games room, BBQ area, pay TV, and WIFI.
14. Pet-friendly complex.
15. Close to popular cafes and restaurants.
16. Only 10 minutes from Gold Coast Airport.
17. Outstanding buying opportunity.

Management Rights Multiplier: 5.20
ROI Estimate: 19.23%