Port Fairy, Victoria

STUNNING BOUTIQUE MANAGEMENT RIGHTS ON VICTORIA' S GREAT OCEAN ROAD | Resort Brokers ID : MR007929

$1,868,600

Business Description

Resort Brokers is proud to offer the management rights and three-bedroom manager's residence of the Victoria’s located in Port Fairy on The Great Ocean Road. This quality boutique property, with 33 keys in the management rights letting pool has new 25-year agreements.

This business is ready for hands-on operators to take it to the next level. Work on the business, not in it with a wage allowance in the financials of $123,000 to allow you to employ staff

One and two-bedroom apartments and incorporating The Drill Hall Cottage, which is a historic four-bedroom, cottage located beside The Victoria Apartments.

The cottage accommodates up to eight guests, comprising of three queen bedrooms and one room with two single beds. The living area has a large north-facing window to let in the winter sun, opening out to the paved courtyard.

The management rights package includes a stylish and comfortable three-bedroom manager’s residence and ground floor office/reception area

- Unleash the potential with this hands-on operator's dream
- Secure your future with brand new 25-year agreements
- Enjoy low maintenance with no pools, gyms, or other facilities to upkeep
- Benefit from a supportive owners corporation
- Live comfortably in a high quality three bedroom manager's residence
- Maximise profits with all units in the manager's letting pool
- Save on staffing costs with a $123,000 wage allowance for reception and grounds staff
- Unlock growth opportunities with potential to increase letting pool or occupancy rate
- Inspections are by appointment only
Date updated: 26 Nov 2023 22:00:09

Business Summary

Business Snapshot

Price: $1,868,600 Net Profit: $274,000 Remuneration / Body Corp Salary: $44,778

Managers Unit

Value of Managers Apartment: $800,000Bedrooms: 3Bathrooms: 2Office: On Title

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 35Total Units in Letting Pool: 35Holiday Units: 35Agreement Term Remaining: 25 years

Marketing Agent

Trudy Crooks

ResortBrokers

Key Investment Insights

1. The business is located in Port Fairy on The Great Ocean Road, a popular tourist destination.
2. The management rights and three-bedroom manager's residence are being offered for sale.
3. The property has 33 keys in the management rights letting pool.
4. The business has new 25-year agreements.
5. The business is ready for hands-on operators to take it to the next level.
6. The financials include a wage allowance of $123,000 for reception and grounds staff.
7. The property includes one and two-bedroom apartments, as well as a historic four-bedroom cottage.
8. The cottage can accommodate up to eight guests.
9. The property has a stylish and comfortable three-bedroom manager's residence and ground floor office/reception area.
10. The business offers potential for growth and increased profits.
11. The property has no pools, gyms, or other facilities to upkeep, making it low maintenance.
12. The owners corporation is supportive.
13. Inspections are by appointment only.
14. The asking price for the business is $1,868,600.
15. The net profit for the business is $274,000.
16. The remuneration/body corp salary is $44,778.
17. The value of the manager's apartment is $800,000.
18. The manager's apartment has three bedrooms and two bathrooms.
19. The office is on title.
20. The complex is a resort/holiday type with a total of 35 units.
21. All 35 units are in the letting pool.
22. The agreement term remaining is 25 years.

Management Rights Multiplier: 3.90
ROI Estimate: 25.64%