Smithfield, Queensland

Simply the Best Permanent


Business Description

Luxury style permanent letting in prime position.
Exciting & contemporary Cairns gated community in Smithfield. Permanent let property with a total of 111 apts & villas, The property was completed and opened in 2006. A high percentage of rental units are furnished. Units are top quality with extensive facilities and on a large well positioned site in the sought after Northern Beaches of Cairns. Only 15 minutes to the Cairns CBD. Great manager’s three bedroom/two bathroom Villa with quality fittings, plus large office and double lock up garage. No set office hours. Good $170k incl. salary with CPI increases. Excellent opportunity to get into the industry in a top building with a well-established business. No requirement for Manager to reside onsite. Mix of 6 month and 12 month leases. Cairns currently has one of the lowest vacancy rates in the country at less than 1% and rental rates are on the rise. Little impact by Covid has been noticeable with this property.
Call Alex today for more information on this great business opportunity.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $350,000 Remuneration / Body Corp Salary: $154,440Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $495,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On Title
Large 203m2 contemporary three bedroom two bathroom villa and attached office. Double lock up garage.

Complex Information

Complex Type: PermanentTotal Units in Complex: 111Total Units in Letting Pool: 95Owner Occupy Units: 11Outside Agent Units: 4Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 years yearsPool: YesGym: YesTennis Court: YesBBQ Area: YesPay TV: YesWIFI: Yes
Marketing Agent
Alex Barker-Ré
Alex Barker-Ré

Calvin Bailey Management Rights

Calvin Bailey Management Rights

Key Investment Insights

1. Prime location in sought after Northern Beaches of Cairns, only 15 minutes to the CBD.
2. Well-established business with a high percentage of furnished units.
3. Large and well-positioned site with extensive facilities.
4. Manager's villa with quality fittings, large office, and double lock-up garage.
5. No set office hours and no requirement for manager to reside onsite.
6. Mix of 6 and 12 month leases.
7. Low vacancy rates in Cairns, currently less than 1%.
8. Little impact from COVID-19 on the property.
9. Net profit of $350,000 and body corp salary of $154,440 with CPI increases.
10. Manager's apartment valued at $495,000 with 3 bedrooms and 2 bathrooms.
11. Complex has 111 units, with 95 in the letting pool and 11 owner-occupied units.
12. Agreement module is Accommodation with 20 years remaining on the 25-year term.
13. On-site amenities include a pool, gym, tennis court, BBQ area, pay TV, and WIFI.

Management Rights Multiplier: 4.64
ROI Estimate: 21.54%

Listing location

This Business is sold

Listing Tools

Management Rights

Receive new listing alerts

Sign up
Similar Management Rights For Sale

You may also like

Exclusive Permanent / Holiday Cairns CBD
Calvin Bailey Management Rights
Exclusive Permanent / Holiday Cairns CBD



Net Income: $450,819
Managers Estate: $450,000 2 Bed 2 Bath
Letting Pool: 95
Remuneration: $158,291

Exceptional Income Potential with Luxurious Residence - ID 8581
Family Hotel, Cootamundra NSW - 1P0382
Easy Permanent with Big Body Corporate Salary $145K and 3% Annual Increase
Hotel in Daylesford Region - 1P5914
Permanent, Long term agreements, great salary, ideal location | Resort Brokers ID : MR008116
Acquire a Premier Resort LH- Newly Refurbished Suites with a Loyal Customer Base | Resort Brokers ID : LH008145
Price Drop - Compact Caretaking-Only MR in Brisbane's Inner-North | Resort Brokers ID : MRB008143
Leasehold interest of Quest Maitland perched on the Hunter River | Resort Brokers ID : LH008037
Hotel/motel, caravan park and a mail-sorting business - This FHGC has it all | Resort Brokers ID : FH008008
Simple, Neat and Tidy!
Captivating Kauri Coast TOP 10 Holiday Park  A Thriving Gem!
Top Location Urgent Sale Cairns
Easy Business with High Income - ID 9126
Boutique NDIS Registered Provider  Gold Coast
Very Profitable Slice of NZ Paradise
Dunedin 21 Stylish Quiet Units - 2016 Full Reno