Hervey Bay, Queensland

Attractive Hervey Bay Proposition

SOLD

Business Description

Popular, small 4 star complex, easy to run with good repeat business. Most units are air conditioned and have good water views. Overflow bookings from multi-million dollar “Oceans Resort” next door provides a constant source of guests.

Enjoy beach side panoramic views of Hervey Bay and Fraser Island. Only meters from the tranquil waters of Hervey Bay and within 50 m of restaurants, bars, boutiques and day spas. Tourist attractions such as the beautiful Botanic Gardens, the iconic Urangan Pier and the Aquarium are close by and if you're heading for Fraser Island or out to see the whales then pick up is right at the front gate.

Three bedroom plus study managers unit, and a business with long agreements and the the potential to grow, makes this an attractive proposition.

In conjunction with the Receiver and Manager, the Management Rights and managers unit are now being offered for sale.

- Net income $65,570 as at end March 2019. (based on 5-7 in letting pool)
- Growth in Letting pool, now at 10 so net income has increased.
- Long agreements.
- Asking $375k including managers residence and business.

Contact us for further Information.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $65,570 Remuneration / Body Corp Salary: $20,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $275,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Complex Information

Complex Type: HolidayStar Rating: 4Total Units in Complex: 14Total Units in Letting Pool: 10Outside Agent Units: 3Manager Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 19 Years yearsPool: YesPay TV: Yes

Marketing Agent

Lindsay Petty

0407 02....

Lindsay Petty

0407 02....

Resort Management Sales

Key Investment Insights

1. Popular, small 4-star complex with good repeat business.
2. Most units have air conditioning and water views.
3. Constant source of guests from overflow bookings from neighboring multi-million dollar resort.
4. Beach side location with panoramic views of Hervey Bay and Fraser Island.
5. Close proximity to restaurants, bars, boutiques, and day spas.
6. Tourist attractions such as Botanic Gardens, Urangan Pier, and Aquarium are nearby.
7. Easy access to pick up for Fraser Island and whale watching tours.
8. Three bedroom plus study managers unit.
9. Long agreements in place.
10. Potential for growth with current letting pool at 10 units.
11. Net income of $65,570 as of March 2019.
12. Managers residence and business included in asking price of $375,000.
13. Body corp salary review of CPI annually.
14. Managers unit valued at $275,000.
15. Pet-friendly complex.
16. 4-star rating.
17. Total of 14 units in complex with 10 in letting pool and 3 outside agent units.
18. 25-year agreement with 19 years remaining.
19. Amenities include a pool and pay TV.

Management Rights Multiplier: 1.53
ROI Estimate: 65.57%