Port Douglas, Queensland

Secure Top Quality Holiday Let in Port Douglas

$1,595,000

Business Description

This management rights opportunity really ticks every box.

It is a modern, very well presented adults only property, in a top main street corner location, less than 100m from the beach.

It is also only a minutes stroll to restaurants, cafes and shops.

Presented are comfortable, modern 1 bedroom apartments of contemporary design, all recently refurbished.

With the benefit of a repair and refurbishment fund, the units are continually being refurbished, and there is no need to ask permission from the owners.

There is a high occupancy rate: The large repeat client base grows each year with great forward bookings.

This is a popular Four Star property with a location advantage for walk in customers and providing excellent guest facilities.

It is an established business with a large repeat client base and enjoying excellent occupancies. It also has new letting owner appointments.

Yes, long Agreements, 24 years remaining.

It also has a pooled letting system and an up to 10% monthly levy for refurbishment and maintenance.

The layout and furnishings of all apartments are similar.

No owners permitted to reside onsite.

Business Summary

Business Snapshot

Price: $1,595,000 Net Profit: $294,600 Remuneration / Body Corp Salary: $64,270Body corp salary review: CPI Annually

Managers Unit

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

Manager's apartment is a light and airy 102 square meters with patio area and adjacent office on title. Manager also has a large exclusive use workshop and storage area.

Complex Information

Complex Type: HolidayTotal Units in Complex: 18Total Units in Letting Pool: 14Outside Agent Units: 2Lockup Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesSpa: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Prime location: The property is situated in a top main street corner location, less than 100m from the beach and a short stroll to restaurants, cafes, and shops.

2. Modern and well-presented: The property is a modern, well-maintained adults-only property with contemporary design and recently refurbished 1-bedroom apartments.

3. High occupancy rate: The property has a high occupancy rate with a large repeat client base and great forward bookings.

4. Established business: The property is an established business with a large repeat client base and new letting owner appointments.

5. Long agreements: The property has long agreements with 24 years remaining, providing stability and security for the new owners.

6. Pooled letting system: The property has a pooled letting system, allowing for efficient management of the letting pool.

7. Refurbishment and maintenance fund: The property has an up to 10% monthly levy for refurbishment and maintenance, ensuring the property is well-maintained and up to date.

8. No owner occupancy: The property does not allow owners to reside onsite, providing privacy and exclusivity for guests.

9. Manager's apartment: The manager's apartment is a spacious and well-maintained 2-bedroom unit with an adjacent office on title, providing convenience for the manager.

10. Complex information: The property is a holiday complex with a total of 18 units, 14 of which are in the letting pool. The complex also has amenities such as a pool, spa, BBQ area, and WIFI.

Management Rights Multiplier: 3.73
ROI Estimate: 26.78%