Key Investment Insights
1. Manager's residence is a fully modernised, high‑end two bedroom, two bathroom apartment valued at $1,295,000, positioned on the ground floor with an oversized private terrace.
2. Master suite offers direct terrace access and a luxury-style ensuite, signalling accommodation quality comparable with premium Main Beach homes.
3. Practical residence features include excellent cross‑ventilation, separate laundry, secure basement parking with two car spaces, and conditional pet approval subject to Body Corporate consent.
4. Building is boutique with only 50 apartments and two units per floor, promoting privacy and a high standard of living.
5. High owner‑occupancy profile with 37 owner‑occupied units and only 10 units in the letting pool, implying stable community and lower tenant turnover.
6. Resort‑style onsite amenities include a heated pool and spa, sauna, fully equipped gym, barbecue area, and full‑size tennis and pickleball court, enhancing guest appeal and resident lifestyle.
7. Agreement structure is secure, permanent complex with a 10 year agreement term and 10 years remaining, offering long‑term operational certainty.
8. Financials: total asking price $1.995M, split $700K for management rights and $1.295M for the unit.
9. Reported net profit $157,692, with remuneration/body corporate salary of $132,603, indicating solid earnings for operators.
10. Prime location in the heart of Main Beach, walking distance to patrolled beaches, Tedder Avenue dining and retail precinct, Marina Mirage, and nearby yacht and surf clubs, strengthening year‑round demand.
11. Small letting pool and one outside agent suggest limited external competition for lettings, potentially supporting stable management income.
Management Rights Multiplier: 4.44
ROI Estimate: 7.90%