Palm Beach, Queensland

Palm Beach Absolute Beachfront Management Rights - $595k Net Profit

$4,850,000

Business Description

Experience the ultimate beachfront lifestyle with this stunning 7-story mid-rise building located directly on Palm Beach. This management rights business offers a variety of accommodations, including one-bedroom studio-style units, and one, two, and three-bedroom self-contained apartments.

Guests can indulge in amenities such as a heated outdoor pool and spa, sauna, two BBQ areas, and a breathtaking rooftop viewing area perfect for enjoying beautiful sunrises and sunsets. The property also features secure underground parking and direct beachfront access.

The current vendor maintains office hours of 32 hours per week, and the profit and loss includes a $20k wage component for a part-time staff member. With strong support from a proactive Body Corporate, the business generates a robust net profit of $595k and has a healthy 20 years remaining on the agreement.

Additionally, the presence of 25 outside agents and 5 lockups offers massive growth potential for this business by way of securing these units back into the letting pool.

The exceptional package includes a spacious manager's residence featuring an air-conditioned three-bedroom apartment, a large back office on title, two bathrooms, a courtyard, and two car spaces, all with stunning beach views from the courtyard.

Seize this opportunity to acquire a high-net, beachfront holiday business on the magnificent Gold Coast. This management rights business truly offers the ultimate beachside lifestyle.

Call today to discuss this incredible opportunity!

Net: $595,607

Property Code: 38

Business Summary

Business Snapshot

Price: $4,850,000 Net Profit: $595,607 Remuneration / Body Corp Salary: $163,699Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $1,350,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

3 Bedroom, 2 Bathroom Ground Floor, airconditioned with courtyard + 2 Car Spaces

Complex Information

Complex Type: HolidayTotal Units in Complex: 68Total Units in Letting Pool: 21Owner Occupy Units: 16Outside Agent Units: 25Lockup Units: 5Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: YesSpa: YesSauna: YesBBQ Area: Yes

Marketing Agent

Craig Johnson

Hotel Resort Sales

Key Investment Insights

1. Stunning 7-story mid-rise building located directly on Palm Beach, offering a variety of accommodations including one-bedroom studio-style units, and one, two, and three-bedroom self-contained apartments.
2. Amenities include a heated outdoor pool and spa, sauna, two BBQ areas, and a breathtaking rooftop viewing area.
3. Strong support from a proactive Body Corporate, generating a robust net profit of $595k.
4. 20 years remaining on the agreement.
5. Potential for growth by securing 25 outside agents and 5 lockups back into the letting pool.
6. Spacious manager's residence with stunning beach views, featuring an air-conditioned three-bedroom apartment, a large back office on title, two bathrooms, a courtyard, and two car spaces.
7. Ultimate beachside lifestyle on the magnificent Gold Coast.
8. Net profit of $595,607.
9. Manager's apartment valued at $1,350,000.
10. Complex type: Holiday, with a total of 68 units and 21 units in the letting pool.
11. Agreement module: Accommodation, with a term of 25 years and 20 years remaining.
12. Amenities include a pool, spa, sauna, and BBQ area.

Management Rights Multiplier: 5.88
ROI Estimate: 17.02%