Hope Island, Queensland

LARGE RESORT STYLE PERMANENT COMPLEX - HOPE ISLAND

SOLD

Business Description

A profitable business opportunity exists for new managers of this outstanding permanent waterfront complex located in the prestigious suburb of Hope Island on the northern Gold Coast.

The midrise complex offers 206 boutique style two and three-bedroom open plan luxury apartments with another 4 townhouses in the construction phase due to complete within the next 12 months.

With no set office hours, a 23-year agreement in place and with a lucrative net profit over $435,000 the business is sure to meet the requirements of discerning investors. Included is a studio apartment, 2 x offices and carpark, along with exclusive use storage for the manager to successfully operate the business.

- Excellent Body Corporate Salary

- Long Agreements

- Near New Complex

- Sought After Location

- Additional Income Potential

Call now for more information or to arrange an inspection, you won’t be disappointed.

Property Code: 1285

Business Summary

Business Snapshot

Price: SOLD Net Profit: $437,043 Remuneration / Body Corp Salary: $421,591Business Value: $2,617,887Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $600,000Bedrooms: 1Bathrooms: 1Car Spaces: 1Office: On TitlePets OK: Yes

Stylish studio apartment with an opportunity to convert office space downstairs into a bedroom

Complex Information

Complex Type: PermanentTotal Units in Complex: 206Total Units in Letting Pool: 40Owner Occupy Units: 155Outside Agent Units: 11Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesSpa: YesSauna: YesGym: YesGames Room: YesBBQ Area: YesWIFI: YesFunction Facilities: YesMarina Berth: Yes

Marketing Agent

Scott Saunders

Premier Business Sales

Key Investment Insights

1. Profitable business opportunity with a net profit of over $435,000.
2. Located in the prestigious suburb of Hope Island on the northern Gold Coast.
3. Midrise complex with 206 luxury apartments and 4 townhouses in construction.
4. No set office hours and a 23-year agreement in place.
5. Includes a studio apartment, 2 offices, and carpark, along with exclusive use storage.
6. Excellent Body Corporate Salary and long agreements.
7. Near new complex in a sought-after location.
8. Potential for additional income.
9. Manager's unit valued at $600,000 with the opportunity to convert office space into a bedroom.
10. Permanent complex with 40 units in the letting pool and 155 owner-occupied units.
11. Facilities include a pool, spa, sauna, gym, games room, BBQ area, WIFI, function facilities, and marina berth.

Management Rights Multiplier: 5.99
ROI Estimate: 13.58%