Coolangatta, Queensland

Coolangatta GOLD

SOLD

Business Description

This terrific holiday letting management rights business provides a very good income in a top shelf location with magic ocean views.

With 49 apartments in this lovely high rise apartment building you will be very well rewarded with a body corporate salary of $83,000 (ex-GST).

A tastefully renovated larger two bedroom managers apartment makes for a great work – life balance. Enjoy the onsite building amenities such as heated pool, spa, sauna, tennis court, gym, BBQ and secure parking.

Live and work in paradise!

Business Summary

Business Snapshot

Price: SOLD Net Profit: $309,116 Remuneration / Body Corp Salary: $83,135Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $585,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: HolidayStar Rating: 3.5Total Units in Complex: 49Total Units in Letting Pool: 24Owner Occupy Units: 12Outside Agent Units: 2Lockup Units: 10Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesSpa: YesSauna: YesGym: YesTennis Court: YesPay TV: Yes
Marketing Agent
Rhonda Perkins
Rhonda Perkins

Rhonda Perkins
Rhonda Perkins

Key Investment Insights

1. High income potential: The business has a strong income potential with a net profit of $309,116 and a body corporate salary of $83,000 (ex-GST).

2. Prime location: The business is located in a top shelf location with stunning ocean views, making it an attractive choice for holidaymakers.

3. Large apartment building: The business is situated in a high-rise apartment building with 49 apartments, providing a steady stream of potential customers.

4. Tastefully renovated managers apartment: The managers apartment has been tastefully renovated, providing a comfortable and stylish living space for the owners.

5. Onsite amenities: The building offers a range of onsite amenities including a heated pool, spa, sauna, tennis court, gym, BBQ, and secure parking, making it a desirable holiday destination.

6. Work-life balance: With a larger two bedroom managers apartment, the owners can enjoy a good work-life balance while living and working in paradise.

7. Accommodation agreement: The business operates under an accommodation agreement with a term of 25 years, providing stability and security for the owners.

8. Diverse unit mix: The complex has a mix of owner-occupied units, outside agent units, lockup units, and manager units, providing a diverse range of potential income streams for the business.

9. Pet-friendly: The managers apartment is pet-friendly, making it an attractive option for pet owners looking for holiday accommodation.

10. Potential for growth: With 24 units in the letting pool and 18 years remaining on the accommodation agreement, there is potential for growth and increased income for the business.

Management Rights Multiplier: 5.01
ROI Estimate: 19.94%

Listing location
Gallery

This Business is sold

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