Palm Cove, Queensland

Under Contract - ID 9182

Under Contract / Offer

Business Description

North Queensland Management Rights For Sale
Enjoy A Seachange - Caretaking Only Opportunity

- Easy to operate complex with 21 units and 4 retail outlets

- Absolute beachfront in world class location

- Brand new 25 year agreements in place

- Caretaking duties of 3-4 hours daily

- Letting agreement in place, plenty of upside to entice lot owners into the letting pool

- 2 bedroom residence plus office on title, excellent location within the complex

- Office overlooks the Coral Sea with no office hours

- 2 garage spaces and plenty of storage

- Comfortable $70,000 per annum salary indexed to CPI annually

- Excellent professional and progressive committee to work with

Net Profit: $70,000
Asking Price: $590,000
(Inclusive of Manager's Real Estate)

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

Management Rights Broker
Antonio Curulli

Property Code: 954

Business Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $70,000 Remuneration / Body Corp Salary: $70,000

Managers Unit

Value of Managers Apartment: $400,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: On Title

2 bedrooms, 2 bathrooms, located on the ground floor, 2 parking spaces, office on title overlooks the Coral Sea, ample storage

Complex Information

Complex Type: CaretakerTotal Units in Complex: 25Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesBBQ Area: Yes

Marketing Agent

Antonio Curulli

MR Sales

Key Investment Insights

- The complex has 21 units and 4 retail outlets, making it easy to manage and operate.
- Located in an absolute beachfront location, the complex offers a world-class lifestyle.
- The brand new 25 year agreements provide stability and security for the business.
- The caretaking duties only require 3-4 hours daily, allowing for a relaxed and low-stress lifestyle.
- There is a letting agreement in place, with potential for lot owners to join the letting pool and increase income.
- The manager's residence is a 2 bedroom apartment with an office on title, offering convenience and a great location within the complex.
- The office overlooks the Coral Sea and has no set office hours.
- The manager also has 2 garage spaces and ample storage.
- The annual salary of $70,000 is indexed to CPI annually, providing a steady income.
- The complex has an excellent and progressive committee to work with, ensuring a positive and cooperative environment.

Management Rights Multiplier: 2.71
ROI Estimate: 36.84%