Mission Beach, Queensland

Price Negotiable - Motivated To Sell

SOLD

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: SOLD 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. The business is a high-quality holiday accommodation located in Mission Beach, a popular tourist destination in the Cassowary Coast region.
2. The property has 13 dual key apartments in the letting pool, making it a highly desirable option for tourists.
3. The resort is situated just 100m from the beachfront, making it a convenient and attractive location for guests.
4. The property has well-maintained and landscaped grounds, including a resort pool, BBQ cabana, and spa.
5. The business has a good relationship with owners and the Body Corporate, providing a solid foundation for new owners.
6. The managers' residence is a spacious two-bedroom unit with direct access to the office and guest reception.
7. The business has seen improvements in management and marketing under the current owners.
8. The net profit for the business is $187,814, with a remuneration/Body Corp salary of $31,375.
9. The value of the managers' apartment is $300,000, with two bedrooms, two bathrooms, and one car space.
10. The complex is a holiday accommodation type with a total of 15 units, 13 of which are in the letting pool.
11. The agreement module is Accommodation, with a remaining term of 23 years out of 25 years.
12. The complex has amenities such as a pool, spa, and BBQ area for guests to enjoy.

Management Rights Multiplier: 2.24
ROI Estimate: 44.72%