Runaway Bay, Queensland
Landmark Management Rights with Marina-Front Residence & Significant BC Salary
$850K MR & $1.250M Unit = Total $2.1M
Business Description
A rare opportunity to secure the management rights to Bayview Tower – an iconic 29-storey waterfront building in the tightly held suburb of Runaway Bay. With a premium location directly on the marina and breathtaking views of the Broadwater, ocean, and hinterland, this is an ideal opportunity for those seeking a lifestyle change supported by a strong, stable income. Perfect for couples, sea-changers, or experienced operators looking to downshift without compromising earnings.
A major highlight is the beautifully renovated, marina-front manager’s residence – a spacious 3-bedroom, 2- bathroom apartment with modern finishes, private marina views, one secure car space, and an on-title office. This apartment offers an enviable combination of lifestyle and functionality.
The business offers a significant body corporate salary of $219K (increasing annually with CPI), long-term agreements, and the backing of a proactive, supportive committee. Manageable caretaking duties encompass established grounds and office hours of 8am-1pm Monday to Friday and access to onsite apartment sales add to the income potential.
Constructed by respected builder MacMaster Constructions, the complex features 109 apartments, including luxury sub-penthouses and penthouses. Residents enjoy a host of first-class facilities, including heated indoor and outdoor pools, spa, sauna, gym, tennis court, function room, and BBQ areas.
Inspections by appointment only.
**Ras360 – Specialists in Management Rights | Motels | Hotels | Pubs | Parks**
Business Summary
Business Snapshot
Price: $850K MR & $1.250M Unit = Total $2.1M
Net Profit: $219,000 Remuneration / Body Corp Salary: $225,000
Managers Unit
Bedrooms: 3Bathrooms: 2Car Spaces: 1Complex Information
Complex Type: PermanentTotal Units in Complex: 110Total Units in Letting Pool: 6Owner Occupy Units: 84Outside Agent Units: 5Lockup Units: 15Agreement Term: 10 yearsAgreement Term Remaining: 10 years
Key Investment Insights
1. Iconic 29-storey waterfront management rights in tightly held Runaway Bay, marina-front location with Broadwater, ocean and hinterland views.
2. Manager’s residence is a renovated marina-front 3-bedroom, 2-bathroom apartment with private marina views, one secure car space and an on-title office.
3. Strong recurring income, with body corporate salary reported circa $219K and remuneration listed at $225K, indexed to CPI.
4. Business listed price $850K for management rights plus $1.25M for the unit, total $2.1M.
5. Long-term certainty, 10-year agreement with 10 years remaining.
6. Manageable caretaking duties, standard office hours 8am to 1pm Monday to Friday, supported by an engaged, proactive committee.
7. Onsite apartment sales access provides additional income potential beyond caretaking and body corporate remuneration.
8. Complex constructed by respected builder MacMaster Constructions, indicating build quality and market credibility.
9. Large complex size circa 109–110 apartments including luxury sub-penthouses and penthouses, offering prestige and asset appeal.
10. First-class resident facilities include heated indoor and outdoor pools, spa, sauna, gym, tennis court, function room and BBQ areas, enhancing resident satisfaction and property value.
11. Low letting pool exposure, only six units in the letting pool and 84 owner-occupied units, suggesting stable owner-occupier community and lower management turnover.
12. Suitable for couples or sea-changers seeking lifestyle plus income, or experienced operators wanting to downshift without compromising earnings.
