Main Beach, Queensland

ALL CLASS

SOLD

Business Description

This exclusive residential tower in Main Beach will be forever new!

The manager’s residence has abundant living space and has been totally reimagined within the north facing 264 sq metre 3 bedroom, 3 bathroom apartment. Featuring front and back office on title, ducted aircon, high end appointments, loads of storage, three car spaces for the fleet and a secure garden which your pooch will adore.

Factor in Body Corporate renumeration of $174,000, office and reception on title, a proactive Body Corporate who support the Manager and endless demand for the high-end rental pool. There you have it! A Gold Coast Management Rights business of the highest calibre.

Conveniently located a few steps to the golden sands of Main Beach, Tedder Avenue retail and restaurant precinct, Yacht Club, Surf Club, Marina Mirage and light rail this world class enclave has much to celebrate..

Aiming high? … in a word “Superb”!

Business Summary

Business Snapshot

Price: SOLD Net Profit: $188,623 Remuneration / Body Corp Salary: $174,000Business Value: $1,000,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $1,150,000Bedrooms: 3Bathrooms: 2Car Spaces: 3Office: On TitlePets OK: Yes

Stunning 264m2 north facing 3 bedrooms, 2 bathrooms, 3 Car, WIR, enclosed private garden, Pet friendly.

Complex Information

Complex Type: PermanentTotal Units in Complex: 80Total Units in Letting Pool: 5Owner Occupy Units: 48Outside Agent Units: 1Lockup Units: 25Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 9 yearsPool: YesIndoor Pool: YesSauna: YesTennis Court: Yes

Marketing Agent

Rhonda Perkins

Property Bridge

Key Investment Insights

1. Exclusive residential tower in Main Beach with abundant living space.
2. Manager's residence has been completely reimagined with high-end appointments and plenty of storage.
3. Front and back office on title.
4. Ducted aircon and three car spaces for the fleet.
5. Secure garden for pets.
6. Body Corporate renumeration of $174,000.
7. Proactive Body Corporate that supports the Manager.
8. Endless demand for high-end rental pool.
9. Convenient location near the beach, retail and restaurant precinct, yacht club, surf club, marina, and light rail.
10. Business of the highest calibre.
11. Net profit of $188,623.
12. Managers apartment valued at $1,150,000.
13. 3 bedrooms, 2 bathrooms, 3 car spaces, WIR, and enclosed private garden.
14. Pet friendly.
15. Complex type is permanent with 80 units.
16. 5 units in the letting pool.
17. 48 owner-occupied units.
18. 1 outside agent unit.
19. 25 lockup units.
20. 1 manager unit.
21. Agreement module is standard with a term of 10 years.
22. 9 years remaining on the agreement term.
23. Pool, indoor pool, sauna, and tennis court in the complex.

Management Rights Multiplier: 5.30
ROI Estimate: 8.77%