Mission Beach, Queensland

Price Negotiable - Motivated To Sell

Under Contract / Offer

Business Description

Quality Holiday Accommodation In Mission Beach

Mission Reef Resort offers high standard apartment accommodation at Wongaling Beach within the Mission Beach region on the Cassowary Coast. With 13 apartments, all dual key within the letting pool, the business is arguably the best rights option on the road between Townsville and Cairns.

Situated within 100m easy stroll to the beachfront, the property has landscaped low maintenance grounds with a resort pool and BBQ cabana for guests and a separate spa. There are ample parking areas for guest vehicles including boat trailers.

The resort is now well established and the current owners have introduced a number of improvements in the way the business is managed and marketed. They have a good relationship with owners and the Body Corporate therefore this business offers a terrific platform going forward, particularly for new entrants to the industry.

The managers residence offers spacious two bedroom living and direct access to the office and guest reception which are on title.

Business Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $187,814 Remuneration / Body Corp Salary: $31,375

Managers Unit

Value of Managers Apartment: $300,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Complex Information

Complex Type: HolidayTotal Units in Complex: 15Total Units in Letting Pool: 13Owner Occupy Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesSpa: YesBBQ Area: Yes

Marketing Agent

Geoff Ellis

0432 79....

North Queensland Management Rights

Key Investment Insights

1. High standard apartment accommodation with 13 dual key units within the letting pool.
2. Located in a prime location within 100m easy stroll to the beachfront.
3. Landscaped low maintenance grounds with a resort pool, BBQ cabana, and separate spa.
4. Ample parking areas for guest vehicles including boat trailers.
5. Well established business with a good relationship with owners and the Body Corporate.
6. Potential for growth and improvement with new management.
7. Spacious two bedroom manager's residence with direct access to the office and guest reception.
8. Under contract/offer with a net profit of $187,814 and remuneration/body corp salary of $31,375.
9. Manager's apartment valued at $300,000.
10. Complex type is holiday with a total of 15 units, 13 in the letting pool, and 1 owner-occupied unit.
11. Agreement module is accommodation with a term of 25 years and 23 years remaining.
12. On-site amenities include a pool, spa, and BBQ area.

Management Rights Multiplier: 2.24
ROI Estimate: 44.72%