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: 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 located in a peaceful and quiet setting with a stunning golf course and lakefront aspect.
2. The complex is secure with 24-hour manned security and offers resort style living without the need to manage the facilities.
3. The location is convenient, being midway between the Gold Coast and Brisbane and close to amenities such as cafes, supermarkets, gyms, and schools.
4. The manager's residence is spacious with fencing for privacy, a large backyard, and plenty of storage.
5. The management agreements have recently been topped up to 22 years with approval from a supportive Body Corporate.
6. The manager's salary is $84,000 and offers a secure income as a supplement to the permanent rental income from the letting pool.
7. The net profit for the business is $129,000.
8. The value of the manager's apartment is $420,000 and has 3 bedrooms, 3 bathrooms, and 2 car spaces.
9. The complex is a permanent type with a total of 76 units and 25 units in the letting pool.
10. The agreement module is Accommodation with a term of 25 years and 22 years remaining.

Management Rights Multiplier: 5.09
ROI Estimate: 19.66%