Port Douglas, Queensland

Top ROI 30+% Manager not Required to LIve On Site

$1,300,000

Business Description

Here is your opportunity to live that home and tropical business dream.

The Port Douglas Outrigger Apartments delivers in terms of profitability, with an excellent ROI on the business - plus standard of living for the manager and ease of management, with all apartments in the holiday letting pool. The manager is not required to live on site, just required to be withing 10 kilometers of the complex.

Port Douglas, as the jewel of the north, is enjoying a good increase in visitor numbers and top occupancies as the holiday market continues to grow.
This is an established business with a niche market. A popular property with a large number of return guests. Highly ranked on the review websites, this speaks volumes regarding guest satisfaction.

The Body Corporate on-going maintenance programme gives peace of mind to the manager in terms of the quality of the presentation.
The manager has a good flexibility of room types with all apartments being in the managers holiday rental pool.

This well-presented resort complex is within close distance of all Port Douglas amenities. Guests can walk to the beach, shops, restaurants and the marina.
It is is a charming complex contained within landscaped gardens and an attractive pool area.
Guests facilities include a large heated pool, barbecue area, undercover parking, tour office, Chromecast in all apartments, WiFi, and tropical gardens.

The manager has a refurbished, two-bedroom, two- bathroom apartment, with laundry and walk-in storage. The managers office is also on title. The current manager also owns a separate one bedroom apartment in the complex, which is open to negotiaiton should a buyer wish to include the purchas of this as part of the sale.

This is a happy, easily managed property and would be ideal for new entrants to the industry or those wishing to add to an existing porfolio.

The vendors are motivated, and the property is well-priced to meet the market.

Call Calvin today for further information or to arrange an inspection.

Business Summary

Business Snapshot

Price: $1,300,000 Net Profit: $270,000 Remuneration / Body Corp Salary: $59,940Business Value: $880,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $420,000Bedrooms: 2Bathrooms: 1Office: On TitlePets OK: Yes

Recently refurbished two bedroom, one bathroom apartment with laundry and walk in storage, plus office on title.

Complex Information

Complex Type: HolidayTotal Units in Complex: 18Total Units in Letting Pool: 17Agreement 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. Reported ROI over 30 percent, indicating strong profitability potential.
2. Asking price $1,300,000 with reported net profit $270,000, providing clear financial metrics.
3. Manager remuneration/body corporate salary $55,000, reviewed annually by CPI, offering income stability.
4. Manager not required to live on site, only required to be within 10 kilometres, allowing flexible staffing.
5. Manager’s accredited unit valued at $420,000, recently refurbished two bedroom with laundry, walk in storage and office on title.
6. 18 unit complex with 17 units in the holiday letting pool, demonstrating high letting participation and yield focus.
7. Long term accommodation agreement 25 years, 23 years remaining, providing tenure and predictable operating framework.
8. Strong guest satisfaction and high review rankings, plus a large number of return guests, indicating a loyal customer base.
9. Prime Port Douglas location, walking distance to beach, shops, restaurants and marina, supporting demand and occupancy.
10. Onsite guest facilities include large heated pool, barbecue area, undercover parking, tour office, Chromecast in apartments and WiFi, enhancing guest experience.
11. Body Corporate ongoing maintenance programme and landscaped tropical gardens, reducing manager workload and preserving presentation.
12. Vendors motivated and property described as well priced, attractive for new entrants or buyers expanding a tourism portfolio; current manager’s separate one bedroom unit may be negotiable for purchase.

Management Rights Multiplier: 3.26
ROI Estimate: 20.77%