Main Beach, Queensland
Permanent with Re-Development Potential!!
SOLD
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: SOLD
Net Profit: $75,000
Complex Information
Complex Type: Permanent
Key Investment Insights
1. Permanent complex advertised with clear redevelopment potential, buyer premium already incorporated due to active discussions with a property development company.
2. Net profit reported at $75,000, with additional remuneration or body corporate salary of $55,000.
3. Managers apartment valued at $950,000, comprising 2 bedrooms, 1 car space, and a listed bathroom count that varies in the material.
4. Onsite manager required to reside in the provided unit, with no fixed caretaking hours stipulated.
5. Manager’s ground floor unit offers direct pool access via a patio and entertaining area, plus a fully equipped kitchen and separate laundry; secure underground parking is provided.
6. Complex size is 33 units, with 19 units in the letting pool, indicating a significant portion under management.
7. Letting agreements are standard module, originally 10 year terms with six years remaining, implying medium term income stability.
8. Property includes a pool and is a three storey walk up, suggesting limited lift infrastructure and potential refurbishment needs.
9. Prime coastal location, a short stroll to the beach and within walking distance to Main Beach, Southport Yacht and Surf Clubs.
10. Strong nearby amenity access, a short drive to Marina Mirage, The Sheraton Mirage, Palazzo Versace and SeaWorld, enhancing tourism and letting appeal.
11. Close driving proximity to prominent public and private schools including TSS and St Hilda’s, supporting year round residential and rental demand.
