Surfers Paradise, Queensland

High Salary & Net Profit Over $450K in Surfers Paradise

SOLD

Business Description

• Committed Vendor keen to sell
• The Vendor has been managing the business for the past 14 years and one of the business partner is happy to support the new business owner if required
• High Body Corporate Salary of $302K
• Long agreement with 24 years remaining
• Rare large complex with only one committee
• Growth potentials for permanent and holiday lettings
• Prime location, walk to the beach, transport and everything
• Luxury apartments with resort style facilities
• No strict requirement of living onsite in the manager's unit
• Manager Unit has 3 bedrooms, 2.5 bathroom, 1 study and 1 office with 10 car space, ample storage area.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $456,000 Remuneration / Body Corp Salary: $302,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $1,000,000Bedrooms: 3Bathrooms: 2Car Spaces: 4Office: On Title

Complex Information

Complex Type: MixedTotal Units in Complex: 163Total Units in Letting Pool: 51Agreement Module: StandardAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesGym: YesBBQ Area: Yes

Marketing Agent

Greg Yang

0430 24....

Jodi Shore

0414 64....

Onsite Management Rights

Key Investment Insights

1. Committed vendor with 14 years of experience managing the business
2. High body corporate salary of $302K
3. Long agreement with 24 years remaining
4. Rare large complex with only one committee
5. Potential for growth in permanent and holiday lettings
6. Prime location within walking distance to the beach and transport
7. Luxury apartments with resort-style facilities
8. No strict requirement to live onsite in the manager's unit
9. Manager's unit includes 3 bedrooms, 2.5 bathrooms, 1 study, and 1 office with 10 car spaces and ample storage area
10. Net profit of $456K
11. Managers apartment valued at $1,000,000
12. Mixed complex with a total of 163 units and 51 units in the letting pool
13. Standard agreement module with 25 years term and 24 years remaining
14. Onsite amenities include a pool, gym, and BBQ area.

Management Rights Multiplier: 6.14
ROI Estimate: 16.29%