Queensland

Magnificent Location Opposite Popular Family Beach

SOLD

Business Description

Architecturally designed beachside living featuring luxury one bedroom, two bedroom and three bedroom self-contained apartments and sub penthouses, all luxuriously appointed with spacious balconies.

Beautifully landscaped grounds with cascading water features, reflective pools, a heated outdoor pool with sun lounge area and BBQ facilities.

The purchase price includes $20k worth of furniture packages (residual value), and a $10k wifi installation.

This prestige property is close to the patrolled beach with a selection of retail shops on the ground floor.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $501,121 Remuneration / Body Corp Salary: $82,461Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $730,000Bedrooms: 3Bathrooms: 2Office: On Title

The spacious 3 bedroom, 2 bathroom managers unit features a large courtyard, ducted a/c, quality fixtures and fittings. There are also 5 exclusive use storage areas.

Complex Information

Complex Type: HolidayTotal Units in Letting Pool: 30Outside Agent Units: 6Lockup Units: 3Agreement Term: 25 yearsAgreement Term Remaining: 19 years yearsPool: YesPay TV: Yes

Marketing Agent

Matt Campbell

0410 34....

Barry Davies

0438 55....

Resort Management Sales

Key Investment Insights

1. Prime location across from a popular family beach
2. Architecturally designed luxury apartments and sub penthouses
3. Beautifully landscaped grounds with water features, outdoor pool, and BBQ facilities
4. Purchase price includes $20k worth of furniture packages and $10k wifi installation
5. Close proximity to patrolled beach and retail shops on ground floor
6. Strong net profit of $501,121 and remuneration/body corp salary of $82,461
7. Spacious 3 bedroom, 2 bathroom managers unit with large courtyard and 5 exclusive use storage areas
8. Complex is a holiday type with 30 units in the letting pool and 6 outside agent units
9. Long agreement term of 25 years with 19 years remaining
10. Amenities such as pool and pay TV available for guests.

Management Rights Multiplier: 5.60
ROI Estimate: 17.87%