Cornubia, Queensland

RESORT STYLE LIVING

SOLD

Business Description

Enjoy the estate and the comfort of a secure 24-hour manned security complex WITHOUT the need to manage the resort style facilities such as, golf course, function room, pool and tennis courts.

Offering a stunning, golf course and lakefront aspect, this complex is tucked away from the hustle and bustle. Enjoy the peaceful and quiet setting from your alfresco area whilst taking in the refreshing breeze.

Located midway between the Gold Coast and Brisbane and only 1 km to cafe, Supermarket, Gym, and Petrol Station. Chisholm Catholic College, Calvary College and Logan Hyperdome are only a few minutes away.

Manager’s residence is spacious with fencing for privacy, large backyard, plenty of storage, 2 car spaces and a sizeable office.

Management agreements recently topped up to 22 years with approval of a supportive Body Corporate. A salary of $84,000 offers secure income as a supplement to the manager’s permanent rental income from the letting pool

Business Summary

Business Snapshot

Price: SOLD Net Profit: $129,000 Remuneration / Body Corp Salary: $84,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $420,000Bedrooms: 3Bathrooms: 3Car Spaces: 2Office: On TitlePets OK: Yes

Manager’s residence is spacious with fencing for privacy, large backyard, plenty of storage, 2 car spaces and a sizeable office.

Complex Information

Complex Type: PermanentTotal Units in Complex: 76Total Units in Letting Pool: 25Permanent Units: 25Owner Occupy Units: 46Outside Agent Units: 4Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 years

Marketing Agent

Jim Lowe

0403 41....

Jim Lowe

0403 41....

Property Bridge

Key Investment Insights

1. The business is a resort-style living complex with 24-hour manned security.
2. The complex is located between the Gold Coast and Brisbane, with easy access to amenities such as cafes, supermarkets, gyms, and schools.
3. The manager's residence is spacious with a large backyard, fencing for privacy, and a sizeable office.
4. The management agreements have recently been topped up to 22 years with a supportive Body Corporate.
5. The manager's salary is $84,000, providing a secure income in addition to the permanent rental income from the letting pool.
6. The net profit for the business is $129,000.
7. The value of the manager's apartment is $420,000.
8. The complex has a total of 76 units, with 25 units in the letting pool and 25 permanent units.
9. The complex is under the Accommodation agreement module with a term of 25 years, with 22 years remaining.
10. The complex allows pets.

Management Rights Multiplier: 5.09
ROI Estimate: 19.66%