Port Douglas, Queensland

A Winner and in the Best Location

$1,385,000

Business Description

Stylish boutique holiday apartments located in prime downtown Macrossan Street.
Winner of numerous Certificate of Excellence Awards.
Set-back for peace and tranquillity for guests.
Short stroll to the Marina, beach, and all shops/restaurants.
Elegant 2 bedroom managers apartment.
Easily managed by one person. Good body corporate salary of $47,513 excl GST.
No owners can reside onsite.
Little gardening required by manager and pool maintenance is Body Corporate responsibility.
Income/Expenses pooled for easy administration.
No Residential Obligation - approval for manager to live off site.
Ideal property for an add on or for those leading into retirement.
Call Calvin for full property details.

Business Summary

Business Snapshot

Price: $1,385,000 Net Profit: $223,045 Remuneration / Body Corp Salary: $47,513Body corp salary review: CPI Annually

Managers Unit

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

Comfortable two bedroom one bathroom apartment - 104m2, with nice patio area.

Complex Information

Complex Type: HolidayTotal Units in Complex: 17Total Units in Letting Pool: 15Outside Agent Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Prime location in downtown Macrossan Street, close to all amenities and attractions.
2. Winner of numerous Certificate of Excellence Awards, indicating high levels of customer satisfaction.
3. Set-back location provides peace and tranquillity for guests.
4. Short stroll to the Marina, beach, and all shops and restaurants.
5. Elegant 2 bedroom managers apartment included in the sale.
6. Easily managed by one person, making it an ideal business for an individual or couple.
7. Good body corporate salary of $47,513 excl GST.
8. No residential obligation, allowing the manager to live off-site.
9. Little gardening required by manager and pool maintenance is the responsibility of the Body Corporate.
10. Income and expenses are pooled for easy administration.
11. Ideal property for an add-on to an existing business or for those looking to ease into retirement.
12. Managers apartment valued at $495,000.
13. Complex is a holiday accommodation type with 17 units in total.
14. 15 units are in the letting pool, with only 1 unit managed by an outside agent.
15. Agreement module is Accommodation with a term of 25 years, with 23 years remaining.
16. Complex features a pool, BBQ area, and WIFI for guests.

Management Rights Multiplier: 3.99
ROI Estimate: 25.06%