Main Beach, Queensland

Modern and dated Permanents in Main Beach!!

Under Contract / Offer

Business Description

Modern and dated Permanents in Main Beach!!

Two complexes across the road from each other are combined for sale in Main Beach. Both situated close to the beach and within close proximity to excellent Public & Private schools, including TSS and St Hilda's. Both complexes are within walking distance to Teddy Street, Southport Yacht and Surf Clubs and a short drive to nearby Marina Mirage, The Sheraton Mirage, The Imperial and SeaWorld. Also in close proximity is The Light Rail that allows easy access to The Hospital and Pacific Fair.

The older Main Beach complex is ideal for redevelopment - on offer secure salaries, no fixed hours, and no need to reside onsite with one of the complexes.

The onsite manager's ground floor unit comprises 2 bedrooms, 2 bathrooms with patio leading off from living area. Fully equipped kitchen adjoins the lounge/dining area. Separate laundry and secure underground parking.

To arrange an inspection call: Gavin

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: $168,400 Remuneration / Body Corp Salary: $139,200

Managers Unit

Value of Managers Apartment: $1,780,000Bedrooms: 4Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 58Total Units in Letting Pool: 20Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 15 yearsPool: YesSpa: YesGym: YesBBQ Area: Yes

Marketing Agent

Gavin Mattig

0409 60....

Gavern Property - Management Rights

Key Investment Insights

1. Two complexes for sale in desirable location in Main Beach, close to beach and amenities.
2. Potential for redevelopment of older complex.
3. Secure salaries and no fixed hours for onsite manager.
4. Manager's unit includes 2 bedrooms, 2 bathrooms, and secure underground parking.
5. Excellent proximity to schools, clubs, and public transportation.
6. Permanent complex with 58 units, 20 in the letting pool.
7. Accommodation agreement module with 15 years remaining.
8. Onsite amenities include pool, spa, gym, and BBQ area.
9. Potential for growth and increased profits.
10. Highly sought after location for permanent rentals.
11. Manager's unit valued at $1,780,000.
12. Strong net profit of $168,400.
13. Body corp salary/remuneration of $139,200.
14. Potential for pet-friendly complex.
15. Long agreement term of 25 years.

Management Rights Multiplier: 4.90
ROI Estimate: 20.41%