Southport, Queensland

Off The Plan Business Only In Heart Of Southport Completion November 2023.

Under Contract / Offer

Business Description

RAAS Management Rights OTP is excited to present this exceptional opportunity to secure the Waverley Residences, an off-the-plan business-only building. This rare proposition is hard to come by in the sought-after Southport area.

Waverley Residences are strategically located at the business center of the Gold Coast region in Southport, making them highly attractive to investors and tenants seeking their slice of the Gold Coast lifestyle.

Scheduled for completion in September 2023, with settlements anticipated in late October 2023, Waverley Apartments has a new 25-year agreement, providing flexibility for potential investors. Notably, there is no stipulation to own real estate in Waverley Residences. The complex will be caretaking only and comes with the letting agreement but with no letting appointments, offering a unique opportunity for management rights to grow their letting pool.

Opportunity Overview:
RAAS Management Rights OTP is delighted to offer this rare opportunity to secure this off-the-plan business-only building.

Executive Summary:
Business Address: 15 Waverley Street, Southport 4215
Module Type: Accommodation
Term of Agreement: 25 Years
Number of Units in Building: 60
Number of Units in Letting Pool (Projected): 0
Parking: Secure/Undercover
Other Facilities: Rooftop BBQ Area
Body Corporate Salary: $84,000
Sinking Fund: To be confirmed (TBC)
Levies: To be advised (TBA)
Price: $380,000

Business Highlights:
Business Only
No Office Hours
Contactable

Location Overview:
Distance from Gold Coast Airport: 40km or 35 mins by car
Gold Coast Economy: $30 billion
The population of Southport: 32,000

Southport is poised to benefit from the Gold Coast's central 'structural uplift' resulting from significant public and private infrastructure spending and a pipeline of projects totalling billions.

Market Insights:
Population Growth: The Gold Coast has an economic catchment of 3.6 million people, and the region's population is forecast to grow at 2.8% p.a. over the next 10 years, making it one of the fastest-growing areas in Australia.
Economic Growth: Urbis forecasts a projected increase of around 70 per cent in employment between 2016 and 2041, with more than 433,000 jobs expected to be created (equating to 7,100 jobs per year).
Infrastructure Boom: The Gold Coast has seen over $13 billion worth of completed, under-construction, or planned projects within 18 months.

This opportunity is not to be missed, and we invite you to take advantage of this unique chance to secure the management rights to Waverley Residences. For more information or to arrange a viewing, please contact us today.

Business Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $84,000 Remuneration / Body Corp Salary: $84,000

Managers Unit

Car Spaces: 1

Complex Information

Complex Type: Off The PlanTotal Units in Complex: 60Owner Occupy Units: 25Outside Agent Units: 35Agreement Term: 25 yearsAgreement Term Remaining: 25 years
Marketing Agent
Paul Mueller
Paul Mueller

Key Investment Insights

1. Rare opportunity to secure an off-the-plan business-only building in the sought-after Southport area.
2. Strategically located in the business center of the Gold Coast region, making it highly attractive to investors and tenants.
3. Scheduled for completion in September 2023, with settlements anticipated in late October 2023.
4. New 25-year agreement with no stipulation to own real estate in the complex.
5. Caretaking only complex with the letting agreement, offering a unique opportunity for management rights to grow their letting pool.
6. Business highlights include no office hours and contactable.
7. The Gold Coast has an economic catchment of 3.6 million people, with a forecasted population growth of 2.8% per annum over the next 10 years.
8. Urbis forecasts a projected increase of around 70% in employment between 2016 and 2041, with more than 433,000 jobs expected to be created.
9. The Gold Coast has seen over $13 billion worth of completed, under-construction, or planned projects within 18 months.
10. Managers unit with 1 car space.
11. Off-the-plan complex with a total of 60 units, 25 owner-occupied units, and 35 outside agent units.
12. 25-year agreement term with 25 years remaining.
13. Net profit and remuneration/body corp salary of $84,000.
14. Located 40km or 35 minutes by car from Gold Coast Airport.
15. Population of Southport is 32,000.
16. Poised to benefit from the Gold Coast's central 'structural uplift' with significant public and private infrastructure spending and a pipeline of projects totalling billions.
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