Key Investment Insights
1. The complex is located in a prime beachside location, only 100m from Shelley Beach, making it an attractive destination for holidaymakers.
2. The complex offers a range of fully self-contained holiday apartments, including one and two bedroom options, catering to a variety of guests.
3. The business has a low workload, with minimal office hours required, making it an easy operation for the owners.
4. The property includes a spacious 3-bedroom residence with a private outdoor area, attached reception area, and low maintenance grounds, pool, and BBQ area.
5. The motivated retiring vendors are offering the business at a very attractive price of $995,000, with a 3-bedroom apartment priced at $395,000 and the business at $600,000.
6. The business has a net profit of $200,000 (to be confirmed), making it a profitable opportunity for potential buyers.
7. There are 21 years remaining on the agreements, with the option to top up for an additional 5 years at the AGM in May 2023.
8. The managers' unit is valued at $385,000 and includes 3 bedrooms, 1 bathroom, and an on-title office.
9. The complex has a total of 25 units, with 13 in the letting pool, including 12 holiday units and 1 permanent unit.
10. The agreement module is Accommodation, with a term of 25 years, and 21 years remaining.
11. The complex features a pool, BBQ area, and WIFI for guests to enjoy during their stay.
Management Rights Multiplier: 3.05
ROI Estimate: 32.79%