Main Beach, Queensland

Permanent with Re-Development Potential!!

Under Contract / Offer

Business Description

Permanent with Re-Development Potential!!

A dated complex with re-development potential. A premium has been incorporated in the price due to current discussions with a property development company. The complex is a short stroll to the beach and within close driving proximity to excellent Public & Private schools, including TSS and St Hilda's Schools. This complex is also within walking distance to all the amenities offered by Main Beach, Southport Yacht and Surf Clubs and a short drive to nearby Marina Mirage, The Sheraton Mirage, Palazzo Versace and SeaWorld.

The manager is required to reside onsite, however, there are no fixed hours attached to the caretaking duties.

The manager's ground floor unit in this 3 storey walk up complex comprises 2 bedrooms, 2 bathrooms with patio and entertaining area leading off from living area to the pool. Fully equipped kitchen adjoins the lounge/dining area. Separate laundry and secure underground parking.

To arrange an inspection call: Gavin - ---------- or email: ----------

Disclaimer: We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.

Business Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $75,000 Remuneration / Body Corp Salary: $55,000

Managers Unit

Value of Managers Apartment: $950,000Bedrooms: 2Bathrooms: 1Car Spaces: 1

Complex Information

Complex Type: PermanentTotal Units in Complex: 33Total Units in Letting Pool: 19Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 6 yearsPool: Yes

Marketing Agent

Gavin Mattig

0409 60....

Gavern Property - Management Rights

Key Investment Insights

1. The business is a permanent complex with re-development potential.
2. The current asking price includes a premium due to discussions with a property development company.
3. The complex is located within walking distance to the beach and close to excellent schools and amenities.
4. The manager is required to reside onsite but has no fixed hours for caretaking duties.
5. The manager's unit is a 2 bedroom, 2 bathroom ground floor unit with a patio and access to the pool.
6. The value of the manager's apartment is $950,000.
7. The complex has a total of 33 units, with 19 units in the letting pool.
8. The agreement module is standard and the agreement term remaining is 6 years.
9. The complex has a pool.
10. Prospective purchasers should make their own enquiries to verify the information provided.

Management Rights Multiplier: 5.37
ROI Estimate: 18.61%