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: $124,000Body 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: 15Holiday Units: 14Permanent Units: 1Owner 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

- Prime location on famous Main Beach, with beach frontage and riverside views
- Well-maintained and in excellent condition, with freshly painted and renovated lifts and foyer
- Generous salary of $124,000 with annual minimum increases of 3.5%
- Long agreements with 22 years remaining
- Complex has a mix of holiday and permanent units, as well as owner-occupied and lockup units
- Manager's unit valued at $749,000 with 3 bedrooms, 2 bathrooms, and office on title
- Complex amenities include pool, spa, sauna, tennis court, BBQ area, pay TV, WIFI, and marina berth
- Potential for growth and increased profits in the future
- Iconic and well-known building, making it a desirable investment opportunity
- Perfectly located with views to both the ocean and river, offering the best of both worlds for residents and guests.

Management Rights Multiplier: 5.29
ROI Estimate: 18.90%