Holloways Beach, Queensland

Business For Sale - Beachfront Permanent Management Rights - ID 8998 BL

$1,435,000

Property Description

- North Queensland Management Rights For Sale
- Great Body Corporate Salary, Flexible Letting
- Located at waters edge in Holloways Beach, Cairns Northern Beaches
- Modern and stylish complex in premier beachfront location
- Covid proof permanent lettings with the flexibility to switch between permanent and holiday
- Positioned to place part of the complex back into holiday letting and reap great upside
- 74 spacious self contained 1 bedroom units with fold out sofas to maximise rentals
- 59 units in the letting pool, 5 outside agents and 10 owner occupiers
- All units surround pool and garden area, many with ocean views from 1st & 2nd floors
- Easily managed business with outsourced gardening, cleaning and reception support
- Excellent ratings from short term booking sites
- Only a short drive to Cairn International Airport, 10 minutes to Smithfield and 12 minutes to Cairns CBD

Currently 21 years remaining on agreements with automatic top ups every 5 years. The manager's residence is a generous on bedrooms apartments with 2 car parks, ample storage and 2 offices and foyer on title - valued at $270,000.

Net Profit: $307,000 (2019 / 2020 figures)
Asking Price: $1,435,000
(Inclusive of manager's real estate)

For further information or to arrange an inspection of this North Queensland management rights for sale contact:

Management Rights Broker
Antonio Curulli

Property Summary

Business Snapshot

Price: $1,435,000 Net Profit: $307,000 Remuneration / Body Corp Salary: $158,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $270,000Bedrooms: 1Bathrooms: 1Car Spaces: 2Office: On Title
60m² residence, Views to the pool, Quality finishes and modern kitchen appliances

Complex Information

Complex Type: PermanentTotal Units in Complex: 74Total Units in Letting Pool: 59Permanent Units: 59Owner Occupy Units: 9Outside Agent Units: 5Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesBBQ Area: YesWIFI: Yes
Marketing Agent
Antonio Curulli
Antonio Curulli

Listing location
Gallery

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