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%
