Southport, Queensland

TONS OF UPSIDE!

SOLD

Business Description

Brimming with promise this versatile holiday/permanent resort needs an experienced and motivated Manager to take the reins and fulfil its outstanding potential.

Significant letting pool consisting of one and two bedroom, mostly furnished apartments.

Accommodation module with $140,000 BC Salary.

An impressive array of facilities to ensure happy guests.

3 Bedroom, 2 Bathroom, 2 car spaces, Office and Reception with a total of 229 sqm on title.

4 MULTIPLIER! Realistic vendor has priced this to sell !

Business Summary

Business Snapshot

Price: SOLD Net Profit: $318,000 Remuneration / Body Corp Salary: $140,000Business Value: $1,290,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $570,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Large 229 sqm apartment with Office on Title and plenty of storage

Complex Information

Complex Type: MixedStar Rating: 3.5Total Units in Complex: 109Total Units in Letting Pool: 64Owner Occupy Units: 36Outside Agent Units: 8Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 15 yearsPool: YesSpa: YesSauna: YesGym: YesTennis Court: YesBBQ Area: YesPay TV: YesWIFI: Yes

Marketing Agent

Rhonda Perkins

Property Bridge

Key Investment Insights

1. Large letting pool with potential for growth.
2. Accommodation module with a high BC salary.
3. Impressive range of facilities for guests.
4. Spacious and well-equipped manager's unit.
5. Realistic vendor with a motivated to sell.
6. Mixed complex with a 3.5 star rating.
7. Long agreement term remaining.
8. On-site amenities including a pool, spa, sauna, gym, tennis court, BBQ area, pay TV, and WIFI.
9. Potential for outside agent units to be brought into the letting pool.
10. Pet-friendly complex.
11. Prime location for holiday and permanent rentals.
12. Strong net profit of $318,000.
13. Potential for further revenue streams such as tour bookings or on-site services.
14. Opportunity for an experienced and motivated manager to take over and maximize the potential of the business.

Management Rights Multiplier: 4.06
ROI Estimate: 17.10%