Palm Beach, Queensland

High Net profit over $490K - Beachfront Holiday Resort Apartments in Palm Beach

$3,546,000

Business Description

• Stunning beachfront high rise apartment, rooms with ocean view
• Local tourism is booming, high potentials to increase net profit.
• Supervisory agreement for caretaking duties- The manager only needs to supervise contractors to work and report to BC
• Well established systems in place with long term staff / contractors provide stability
• Consistent high performer; Always fully booked, Happy return guests.
• Large separate office / reception area on title
• No set office hours
• Not required to live onsite
• Central to all attractions, shopping precincts and restaurants

Business Summary

Business Snapshot

Price: $3,546,000 Net Profit: $490,202 Remuneration / Body Corp Salary: $73,771Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $850,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On Title

Complex Information

Complex Type: HolidayTotal Units in Complex: 78Total Units in Letting Pool: 31Agreement Term: 25 yearsAgreement Term Remaining: 19 yearsPool: YesSauna: YesGym: YesTennis Court: YesBBQ Area: Yes

Marketing Agent

CeCe Chen

0450 45....

Greg Yang

0430 24....

Onsite Management Rights

Key Investment Insights

1. The beachfront high rise apartment has stunning ocean views, making it a desirable location for tourists.
2. The local tourism industry is thriving, providing potential for further growth and increased net profit.
3. The manager's responsibilities are limited to supervising contractors and reporting to the Body Corporate, allowing for a more manageable workload.
4. The business has well-established systems in place and a team of long-term staff and contractors, providing stability and efficiency.
5. The business consistently performs well, with high occupancy rates and satisfied return guests.
6. The property includes a large separate office/reception area on title, providing a professional and convenient work space.
7. The manager is not required to live onsite, providing flexibility and work-life balance.
8. The location is central to popular attractions, shopping precincts, and restaurants, making it an attractive destination for tourists.
9. The business has a high net profit of over $490,000, providing a strong return on investment.
10. The managers' unit is valued at $850,000 and includes two bedrooms, two bathrooms, and an office on title.
11. The complex is a holiday type with 78 units in total and 31 units in the letting pool.
12. The management agreement has a remaining term of 19 years, providing long-term stability for potential buyers.
13. The complex offers amenities such as a pool, sauna, gym, tennis court, and BBQ area, making it an attractive option for guests.

Management Rights Multiplier: 5.50
ROI Estimate: 18.18%