Mermaid Beach, Queensland

Outstanding Lifestyle Business Right on the Sands of Mermaid Beach | Resort Brokers ID : MR006937

$2,500,000

Property Description

Outstanding lifestyle business with an absolute waterfront position in iconic Mermaid Beach. This location is second to none. Albatross North is a very special business. One that offers its resident's a taste of pure luxury coupled with a laid back vibe. Impeccably presented, this medium rise complex hosts a total of 21 apartments. Of these, nine are in the holiday letting pool producing solid income returns due to their high-end quality and popularity which sees occupancy rates sitting around 75%.



  • Incredible absolute beachfront location

  • >$178K net profit balanced with a lifestyle business

  • Luxury building, high quality rooms & high quality guests

  • Manager’s residence is superb with ocean views and direct beach access

  • Great BC committee and positive supportive owners

  • Ultimate Hedges Ave/Albatross Avenue address

  • Growth opportunities via lock-ups to drive income

  • Awesome repeat business + newly updated online presence

  • Very easy to run business perfect for first timers or semi-retired

  • Property inspections are by appointment only

Date updated: 21 Oct 2021 22:00:07

Property Summary

Business Snapshot

Price: $2,500,000 Net Profit: $178,226 Remuneration / Body Corp Salary: $63,076

Managers Unit

Value of Managers Apartment: $1,700,000Bedrooms: 2Bathrooms: 2Office: On Title

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 21Total Units in Letting Pool: 9Holiday Units: 9Owner Occupy Units: 5Outside Agent Units: 1Lockup Units: 5Agreement Term Remaining: 10 years
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