Mermaid Beach, Queensland

MERMAID BEACH RESORT

SOLD

Business Description

100m stroll to beautiful Mermaid Beach
Prime holiday location
Good Body Corporate committee
Great business for first time operator
Walk to Pacific Fair Shopping Centre, Jupiters Casino, the G link tram and Draculas
Hop, skip and a jump to the popular dining and nightlife precinct of Broadbeach
Lovely parklands adjacent to complex
Upside for business growth
Net Income $134,800 part projected

Business Summary

Business Snapshot

Price: SOLD Net Profit: $134,800 Remuneration / Body Corp Salary: $33,987Business Value: $586,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $399,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Comfortable and modern apartment

Complex Information

Complex Type: HolidayStar Rating: 3.5Total Units in Complex: 21Total Units in Letting Pool: 12Owner Occupy Units: 6Outside Agent Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: YesSpa: YesSauna: YesPay TV: Yes

Other Features / Notes

Pool, Spa, Sauna, BBQ

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

1. Prime location near Mermaid Beach, Pacific Fair Shopping Centre, Jupiters Casino, and popular dining and nightlife precinct of Broadbeach.
2. Good Body Corporate committee in place.
3. Great opportunity for a first-time operator.
4. Potential for business growth.
5. Net income of $134,800 with potential for further growth.
6. Manager's apartment valued at $399,000 with 2 bedrooms, 2 bathrooms, and 2 car spaces.
7. Comfortable and modern apartment for the manager.
8. Complex is a 3.5-star holiday accommodation with 21 units.
9. 12 units in the letting pool, 6 owner-occupied units, and 2 outside agent units.
10. Manager's unit is included in the letting pool.
11. Accommodation agreement for 25 years with 20 years remaining.
12. On-site amenities include a pool, spa, sauna, and BBQ area.
13. Other features include pay TV and an office on title.
14. Pets are allowed in the manager's apartment.
15. Lovely parklands adjacent to the complex.

Management Rights Multiplier: 4.35
ROI Estimate: 13.69%