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: 13Lockup Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 21 years

Marketing Agent

Barry Davies

0438 55....

Matt Campbell

0410 34....

Resort Management Sales

Key Investment Insights

AI generated. Confirm details with the seller.

1. Prime location: The business is located on the highly sought-after Hastings Street in Noosa, known for its luxury boutiques, restaurants, and beautiful beachfront.

2. High potential for growth: The occupancy rate of the business is currently below the average for Hastings Street, providing potential for improvement and increased profits.

3. Boutique complex: The complex is small and intimate, with only 14 units, creating a more exclusive and personalized experience for guests.

4. Stunning views: The manager's unit offers a north-facing view over Hastings Street and the complex also backs onto a canal with a private jetty for guests to use.

5. Manager's apartment included: The sale includes a tastefully designed 2 bedroom manager's unit and a separate office on the title.

6. Single operator: The business is currently run by a single operator, providing the opportunity for a new owner to take on the business and make it their own.

7. Body Corp salary review: The body corporate salary is reviewed annually, providing potential for increased income for the manager.

8. Long agreement term: The agreement term for the business is 25 years, with 21 years remaining, providing stability and security for a new owner.

9. Holiday complex: The complex is a holiday complex, providing the opportunity for a new owner to live and work in a beautiful holiday destination.

10. Pet-friendly: While pets are not allowed in the manager's unit, the complex is pet-friendly, providing the opportunity for guests to bring their furry friends on vacation.

11. Additional income potential: The business has potential for additional income through services such as tour bookings, car rentals, and other guest services.

12. Noosa lifestyle: The sale of this business provides the opportunity for a new owner to live and work in one of the most desirable and beautiful locations in Australia, offering a relaxed and luxurious lifestyle.

Management Rights Multiplier: 5.20
ROI Estimate: 11.77%