Port Douglas, Queensland

Rare property of high calibre for the truly discerning buyer

SOLD

Business Description

This lovely property is beautifully located on the quiet end of Macrossan Street, at the start of the restaurant strip and a short stroll from Four Mile Beach and Marina Mirage. With four stars, and some of the best and largest apartments complete with indoor spas or balcony jacuzzis: this property must be amongst the best on offer.
The cascading 3 story waterfall and fountain provide a fascinating backdrop for the foyer area and for the pool area for guests enjoyment.
A large 3 bedroom/2 bathroom manager’s apartment along with a top net profit and body corporate salary complete the list and make this one of the most desirable properties in Port Douglas.

Rarely do properties of this calibre come along.

Confidentiality Conditions apply.

Call Calvin for full property information.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $451,439 Remuneration / Body Corp Salary: $81,889Business Value: $1,935,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $550,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: Exclusive UsePets OK: Yes

Spacious 3 bedroom, 2 bathroom apartment with large patio.

Complex Information

Complex Type: HolidayStar Rating: 4Total Units in Complex: 47Total Units in Letting Pool: 46Outside Agent Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesBBQ Area: YesPay TV: YesWIFI: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Prime location on Macrossan Street, close to restaurants, Four Mile Beach and Marina Mirage.
2. Four-star rating with some of the largest and best apartments in the area.
3. Indoor spas and balcony jacuzzis in each apartment.
4. Beautiful cascading 3-story waterfall and fountain in the foyer and pool area.
5. Large 3-bedroom, 2-bathroom manager's apartment.
6. Top net profit and body corporate salary.
7. Highly desirable property in Port Douglas.
8. Confidentiality conditions apply.
9. Includes a spacious 3-bedroom, 2-bathroom manager's apartment with a large patio.
10. Complex type is holiday accommodation with a 4-star rating.
11. Total of 47 units in the complex, with 46 in the letting pool.
12. Agreement module is accommodation with a term of 25 years, with 21 years remaining.
13. Amenities include a pool, spa, BBQ area, pay TV, and WIFI.

Management Rights Multiplier: 4.29
ROI Estimate: 18.17%