Palm Beach, Queensland

Palm Beach Management Rights - ID 8546

$1,629,000

Business Description

Management Rights For Sale
Mix of Holiday & Permanent Letting

- Mid rise complex of 28 apartments

- 7 holiday and 8 permanents in the letting pool

- 25 year Accommodation Module agreement with 19 years remaining

- Easy to manage complex, currently run by one person

- Body Corporate salary over $71,000

- Resort style facilities

- New lift upgrade

- One block back from patrolled beach

- Office Exclusive Use – no set office hours

- Spacious, 2 bedroom, 2 bathroom manager’s residence

Palm Beach on the Gold Coast has undergone a remarkable surge in popularity and growth, transforming from a quiet suburb into a vibrant coastal community. Its stunning coastline, renowned for its pristine beaches and excellent surf, has attracted visitors and residents alike. With an increase in residential development and a wealth of amenities, including great cafes and dining options, Palm Beach has become a desirable destination for both living and vacationing. Its strategic location between Surfers Paradise and Coolangatta further enhances its appeal, ensuring easy access to major attractions and transportation routes. A sought-after destination for those seeking the perfect blend of coastal living and urban convenience.

Net Profit: $225,040
Asking Price: $1,629,000
(Inclusive of Manager’s Real Estate)

For further information or to arrange an inspection of this Gold Coast Management Rights business for sale contact:

Management Rights Broker
Phil Trimble

Property Code: 795

Business Summary

Business Snapshot

Price: $1,629,000 Net Profit: $225,040 Remuneration / Body Corp Salary: $71,676

Managers Unit

Value of Managers Apartment: $799,000Bedrooms: 2Bathrooms: 2Car Spaces: 1

The Manager’s apartment is located on the ground floor. It has 2 bedrooms, 2 bathrooms and 1 car space. The apartment is modern and spacious and has been partially renovated with new stone benches etc. The balcony has a north-east aspect picking up the cool afternoon breeze. The apartment offers a very comfortable living space and comes with air conditioning, fans, security screens a large private balcony. This residence makes for idyllic living in a beachside setting. The office/reception is not attached to the apartment and is on exclusive use. The reception area is approximately 12m². The management booking system is Resly. All equipment to maintain the complex is owned and maintained by the Body Corporate.

Complex Information

Complex Type: HolidayTotal Units in Complex: 28Total Units in Letting Pool: 15Owner Occupy Units: 6Outside Agent Units: 2Lockup Units: 4Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 19 yearsPool: YesSpa: YesSauna: YesGames Room: YesBBQ Area: Yes

Marketing Agent

Phil Trimble

MR Sales

Key Investment Insights

1. Mid rise complex with 28 apartments, offering a mix of holiday and permanent letting options.
2. 25-year Accommodation Module agreement with 19 years remaining, providing long-term stability for the business.
3. Easy to manage complex, currently run by one person, making it a manageable and efficient operation.
4. Body Corporate salary over $71,000, providing a steady source of income for the manager.
5. Resort-style facilities, including a pool, spa, sauna, games room, and BBQ area, offering a desirable lifestyle for guests and residents.
6. New lift upgrade, ensuring the complex is modern and well-maintained.
7. Located just one block back from a patrolled beach, providing easy access to the popular coastline.
8. Office Exclusive Use with no set office hours, allowing for flexibility in managing the business.
9. Spacious, 2-bedroom, 2-bathroom manager's residence with a private balcony and modern amenities.
10. Highly sought-after location in Palm Beach, a popular coastal community with a vibrant atmosphere and convenient amenities.

Management Rights Multiplier: 3.69
ROI Estimate: 27.11%