Key Investment Insights
1. Price reduced offering, total acquisition $2.99M comprising $2.39M management rights and $600K manager’s unit.
2. Strong financial performance, reported net profit $500,450.
3. Significant manager remuneration, body corporate salary/remuneration $197,923.
4. Title-backed manager’s residence and on-title office, includes two-bedroom unit, reception office and separate staff lunch room, enhancing operational security and asset value.
5. Long-term secured income via management agreement, original term 25 years with 19 years remaining.
6. Complex scale supports economies of management, 66 apartments with 31 currently in the letting pool.
7. Customer-focussed inventory, majority of units are short-term holiday lets with compact guest-friendly layouts, aiding stable, easily managed occupancy.
8. Blue-chip Broadwater waterfront location on the Gold Coast, described as tightly held and offering strong location appeal and Broadwater views.
9. Resort-style amenities that are practical to manage, rooftop heated pool and spa with sweeping views, second pool and spa, full-size tennis court, gym, sauna and barbecue areas.
10. Low specialist staffing requirement, facilities described as simple to service and well suited to the caretaking role, supporting lean operating model.
Management Rights Multiplier: 4.80
ROI Estimate: 20.85%