Nerang, Queensland

PRICE HEAVILY REDUCED TO SELL WITH NO REQUIREMENT TO LIVE ON SITE

MAJOR PRICE REDUCTION | $1.7M

Business Description

Positioned within one of Nerang’s most established gated residential communities, Billabong now presents an even more compelling management rights opportunity following a significant price reduction from a highly motivated vendor.

The revised pricing delivers an attractive 12.5% ROI, creating excellent value for buyers seeking secure income, operational simplicity and genuine lifestyle flexibility on the Gold Coast.

Approximately 71% of the verified net profit is generated from the Body Corporate salary, providing a stable and highly predictable income stream with comparatively low operational risk. The salary is reviewed annually each November, providing ongoing opportunity for income growth independent of the letting business.

A major point of difference is that there is no requirement for the manager to reside onsite. This provides exceptional flexibility for an incoming owner to occupy the manager’s residence, retain their existing home, or potentially explore alternative uses for the residence subject to the relevant requirements.

The business itself is designed for straightforward day to day operation, with no prescribed office hours. Modern cloud based Reapit management software also allows much of the administration to be managed efficiently and remotely, supporting an excellent work life balance.

The manager’s residence has been tastefully renovated and presents in excellent condition, allowing an incoming owner to move straight in without significant immediate expenditure. The complex roofs have also recently been professionally soft washed and inspected, further enhancing the overall presentation.

With a long agreement term, stable owner occupier community and quality letting business, Billabong represents a compelling opportunity at its newly reduced asking price.

Business Summary

Business Snapshot

Price: MAJOR PRICE REDUCTION | $1.7M Net Profit: $208,906 Remuneration / Body Corp Salary: $149,455

Managers Unit

Value of Managers Apartment: $860,000Bedrooms: 3Bathrooms: 1Car Spaces: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 80Total Units in Letting Pool: 29Owner Occupy Units: 39Outside Agent Units: 12Agreement Term: 25 yearsAgreement Term Remaining: 18 years

Marketing Agent

Greg Litzner

0499 00....

Ras360

Key Investment Insights

AI generated. Confirm details with the seller.

1. Major price reduction delivers an advertised 12.5% return on investment at the $1.7 million asking price.
2. Approximately 71% of verified net profit comes from the Body Corporate salary, supporting predictable income.
3. Body Corporate remuneration is reviewed annually each November, providing potential for income growth.
4. No requirement to live onsite provides exceptional lifestyle and operating flexibility for the incoming owner.
5. Cloud based Reapit software supports efficient administration and remote management, with no prescribed office hours.
6. Recently renovated three bedroom manager’s residence includes one bathroom and two car spaces, valued at $860,000.
7. The complex’s roofs have recently been professionally soft washed and inspected, enhancing presentation.
8. Established gated residential community includes 80 permanent units, with 29 in the letting pool.
9. Stable owner occupier presence is supported by 39 owner occupied units and 12 outside agent units.
10. Long agreement term provides 18 years remaining, supporting ongoing operational continuity.
11. Quality letting business and straightforward daily operation support a balanced management rights lifestyle.

Management Rights Multiplier: 4.02
ROI Estimate: 12.29%