Main Beach, Queensland

SENSATIONAL BUSINESS

SOLD

Business Description

This upmarket iconic building is arguably the best location on famous Main Beach.

Nestled between beach frontage and riverside, enjoy the beach lifestyle in addition to fishing off your riverside pontoon beside your boat mooring.

Outstanding views all round make this a complex a dream come true.

Freshly painted with renovated lifts and foyer this building is well maintained and in excellent condition.

A generous salary of $124,000 with annual minimum increases of 3.5% coupled with long agreements is the icing on the cake.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $302,000 Remuneration / Body Corp Salary: $124,000Business Value: $1,598,000Body corp salary review: Fixed %

Managers Unit

Value of Managers Apartment: $749,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Views to both Ocean front and river. Perfectly located.

Complex Information

Complex Type: HolidayStar Rating: 3.5Total Units in Complex: 44Total Units in Letting Pool: 15Owner Occupy Units: 12Outside Agent Units: 2Lockup Units: 14Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 yearsPool: YesSpa: YesSauna: YesTennis Court: YesBBQ Area: YesPay TV: YesWIFI: YesMarina Berth: Yes

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

1. Prime location in a popular and iconic building on Main Beach
2. Stunning views of both the beach and river
3. Well-maintained and in excellent condition
4. Recently painted with renovated lifts and foyer
5. Generous salary of $124,000 with annual minimum increases of 3.5%
6. Long agreements in place
7. Manager's apartment with 3 bedrooms, 2 bathrooms, and ocean and river views
8. Complex includes 44 units, with 15 in the letting pool and 12 owner-occupied
9. Facilities include pool, spa, sauna, tennis court, BBQ area, pay TV, and WIFI
10. Marina berth available for boat mooring
11. Suitable for a holiday complex with a 3.5 star rating
12. Agreement module is accommodation with a remaining term of 22 years.

Management Rights Multiplier: 5.29
ROI Estimate: 12.87%