Noosa Heads, Queensland

Hastings Street Noosa

SOLD

Business Description

This is an exceptional opportunity to acquire a business in the Blue Chip location of Hastings St and live the Noosa lifestyle. Boutique complex in the excellent position facing on to world-renowned Hastings Street and abutting leafy Noosa Woods. The complex also backs on to a canal and has a private jetty that the guests can use.

Tasteful 2 bedroom Managers unit north facing over Hastings Street and a separate office also on title. Currently run by a single operator. Plenty of scope to improve the figures with an occupancy rate that is well below the Hastings St average of 80% plus.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $288,286 Remuneration / Body Corp Salary: $37,162Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $950,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: No

Complex Information

Complex Type: HolidayTotal Units in Complex: 14Total Units in Letting Pool: 13Holiday Units: 13Lockup Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 21 years
Marketing Agent
Barry Davies
Barry Davies

Matt Campbell
Matt Campbell

Resort Management Sales

Resort Management Sales

Key Investment Insights

1. Blue Chip location: The business is located in the highly sought after and prestigious location of Hastings Street in Noosa, offering a prime position for attracting guests and potential buyers.

2. Boutique complex: The complex is small and intimate, with only 14 units, making it easier to manage and maintain a high level of quality and service.

3. North facing unit: The managers unit is positioned to capture the warm northern sun and overlooks Hastings Street, adding to the appeal and value of the property.

4. Potential for improvement: The current occupancy rate is below the average for Hastings Street, providing an opportunity for the new owner to increase revenue and profits.

5. Private jetty: The complex has its own private jetty on the canal, providing a unique and attractive feature for guests.

6. Separate office: The managers unit includes a separate office, allowing for a designated workspace and added convenience for the operator.

7. Single operator: The business is currently run by a single operator, providing the opportunity for a new owner to take on the business as a sole proprietor or with a partner.

8. Strong net profit: The business has a strong net profit of $288,286, providing a solid foundation for potential buyers.

9. Body Corp salary review: The body corp salary is reviewed annually, providing potential for an increase in income for the manager.

10. Long agreement term: The agreement term is 25 years with 21 years remaining, providing long-term security and stability for the business.

11. Manager's apartment value: The value of the manager's apartment is $950,000, providing a significant asset for the new owner.

12. Holiday complex: The complex is primarily holiday units, providing a steady stream of income and potential for growth during peak seasons.

13. Pet-friendly: The complex is not pet-friendly, ensuring a peaceful and quiet environment for guests.

14. Lockup units: The complex has one lockup unit, providing additional security and flexibility for

Management Rights Multiplier: 5.20
ROI Estimate: 19.22%

Listing location

This Business is sold

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