Southport, Queensland
EXCEPTIONAL OPPORTUNITY !!
$3,635,000
Business Description
Exciting business opportunity awaits with management rights and real estate for a prestigious property. Featuring 117 apartments over 15 levels, including 115 residential and 2 commercial units, this prime location ensures consistent year-round occupancy and efficient management by a team of two. With no office hours or maintenance required, it offers a streamlined management experience.
The Body Corporate agreement has been extended until 2047, offering a substantial salary with annual increases and covering expenses beyond the agreement's scope. The majority of units are in the letting pool, with a luxurious manager's unit featuring 2 bedrooms, 2 bathrooms, and dedicated parking. Additional revenue potential comes from leasing out 8 storage cages.
This modern landmark in the heart of Queensland's Gold Coast boasts contemporary design with panoramic views, large balconies, timber flooring, and stone benchtops. Residents enjoy shared rooftop spaces, including a residents-only club lounge, barbecue areas, and more.
Situated near Broadwater Parklands, Gold Coast Aquatic Centre, Chinatown, and the light rail stop, this property offers a walkability score of 96%. Don't miss out on this opportunity to be part of an iconic destination on the Gold Coast!
Business Summary
Business Snapshot
Price: $3,635,000
Net Profit: $485,989 Remuneration / Body Corp Salary: $155,307
Managers Unit
Value of Managers Apartment: $800,000Bedrooms: 2Bathrooms: 2Car Spaces: 1The manager's unit is luxurious, featuring 2 bedrooms, 2 bathrooms, and a dedicated parking space.
Complex Information
Complex Type: PermanentTotal Units in Complex: 117Total Units in Letting Pool: 70Owner Occupy Units: 26Outside Agent Units: 18Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsBBQ Area: Yes
Key Investment Insights
1. Prime location with consistent year-round occupancy and efficient management by a team of two.
2. Body Corporate agreement extended until 2047 with substantial salary and annual increases.
3. Majority of units in the letting pool, with additional revenue potential from leasing out storage cages.
4. Luxurious manager's unit with 2 bedrooms, 2 bathrooms, and dedicated parking.
5. Modern landmark building with contemporary design and panoramic views.
6. Shared rooftop spaces for residents, including a club lounge and barbecue areas.
7. High walkability score of 96%, with nearby attractions such as Broadwater Parklands and Chinatown.
8. Iconic destination on the Gold Coast with potential for growth and development.
9. Net profit of $501,796 and remuneration/Body Corp salary of $150,783.
10. Manager's unit valued at $772,000 and remaining agreement term of 23 years.
