Port Douglas, Queensland

Picture yourself in Paradise

$1,835,000

Business Description

Trendy very well presented adults only property in top main street corner location - the Golden Triangle of Port Douglas being less than 100m from beautiful Four Mile beach yet with all the restaurants, shops and services on the doorstep as well.
Comfortable, identical one bedroom apartments of contemporary design, very recently refurbished.
Popular Four Star property with location advantage for walk in customers and providing great guest facilities.
Established business with large repeat client base and enjoying excellent occupancies.
New letting owner appointments as of July 2023.
21 years on the current Agreements with a further 5 year top-up scheduled for next year.
Great body Corporate salary of $52,678 exclusive of GST.
Pooled letting system with the bonus of up to 10% monthly levy for refurb & maintenance.
No owners permitted to reside onsite.

Picture yourself within this lovely lifestyle setting and with a top business.

Call Calvin for further information or to arrange an inspection.

Business Summary

Business Snapshot

Price: $1,835,000 Net Profit: $304,542 Remuneration / Body Corp Salary: $52,678Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $495,000Bedrooms: 2Bathrooms: 1Car Spaces: 1Office: On TitlePets OK: Yes

Elegant two bedroom, one bathroom apartment with patio area. Also 3 exclusive use areas including 72m2 workshop/store

Complex Information

Complex Type: HolidayStar Rating: 4Total Units in Complex: 18Total Units in Letting Pool: 14Outside Agent Units: 2Lockup Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Prime location in the Golden Triangle of Port Douglas, with easy access to the beach and nearby amenities.
2. Well-maintained and recently refurbished one-bedroom apartments with contemporary design.
3. Popular four-star property with high occupancy rates and a large base of repeat customers.
4. New letting owner appointments scheduled for July 2023.
5. 21-year agreement with a further 5-year top-up planned for next year.
6. Strong body corporate salary of $52,678 (exclusive of GST).
7. Pooled letting system with potential for up to 10% monthly levy for refurbishment and maintenance.
8. No owners permitted to reside on-site, providing a peaceful and professional environment.
9. Elegant two-bedroom, one-bathroom manager's apartment with additional exclusive use areas.
10. Complex information includes a holiday accommodation type, 4-star rating, and 14 units in the letting pool.
11. Amenities such as a pool, spa, BBQ area, and WIFI are available for guests to enjoy.

Management Rights Multiplier: 4.40
ROI Estimate: 22.73%