Palm Beach REGION

LIVE OFF SITE

SOLD

Business Description

No Requirement to Live Onsite.

This family oriented Gold Coast holiday resort within a 15 minute stroll to patrolled beaches.

Renovated dual key two bedroom apartments offering excellent rental flexibility.

A very popular, solid and profitable business operating in a low-key environment with a loyal long standing customer base.

Water views and well located with local shopping and dining experiences. Convenient transport options for guests.

Businesses of this caliber are hard to find!

Business Summary

Business Snapshot

Price: SOLD Net Profit: $379,000 Remuneration / Body Corp Salary: $60,619Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $585,000Bedrooms: 4Bathrooms: 3Car Spaces: 4Office: On Title

Sizeable two level apartment, 3 Bedrooms plus Study, 2.5 Bathrooms, Large Balcony, 4 car spaces

Complex Information

Complex Type: HolidayStar Rating: 3.5Total Units in Complex: 65Total Units in Letting Pool: 54Owner Occupy Units: 10Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: YesSpa: YesPay TV: Yes

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

1. The business is located in a popular and family-oriented holiday destination on the Gold Coast.
2. The apartments have been recently renovated and offer flexible rental options.
3. The business has a loyal and long-standing customer base.
4. The location offers water views and is close to local shopping and dining options.
5. The business is profitable and operates in a low-key environment.
6. There is no requirement for the owner to live onsite.
7. The manager's unit is a spacious and well-equipped four-bedroom apartment.
8. The complex has a 3.5 star rating and a total of 65 units, with 54 units in the letting pool.
9. The agreement module is Accommodation, with a remaining term of 20 years.
10. The complex features a pool, spa, and pay TV.

Management Rights Multiplier: 5.07
ROI Estimate: 19.71%