Port Douglas, Queensland

A Winner and in the Best Location

$1,430,000

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: $1,430,000 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 Management Rights

Calvin Bailey Management Rights

Key Investment Insights

1. Prime downtown location on Macrossan Street, a popular tourist destination.
2. Winner of multiple Certificate of Excellence Awards, indicating high customer satisfaction.
3. Set-back location provides peace and tranquility for guests.
4. Short walking distance to the marina, beach, and all shops and restaurants.
5. Elegant 2 bedroom manager's apartment adds value to the business.
6. Easily managed by one person, making it an ideal opportunity for those looking to lead into retirement.
7. Good body corporate salary of $47,513 excl GST.
8. No owners can reside onsite, allowing for a more streamlined management process.
9. Minimal gardening required for the manager, with pool maintenance being the responsibility of the body corporate.
10. Income and expenses are pooled for easy administration.
11. No residential obligation, with approval for the manager to live off-site.
12. Ideal property for an add-on to an existing business or for those looking to enter the holiday accommodation industry.
13. Manager's apartment valued at $495,000.
14. Complex consists of 17 units, with 15 in the letting pool.
15. Accommodation agreement module with 23 years remaining.
16. On-site amenities include a pool, BBQ area, and WIFI.

Management Rights Multiplier: 4.19
ROI Estimate: 23.86%

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