Surfers Paradise, Queensland
MUST BE SOLD! VENDOR COMMITTED ELSEWHERE.
Under Contract / Offer
Business Description
Circumstances dictate that this opportunity must be sold as vendor is committed elsewhere. I am obligated to submit each and every offer. Located in the blue chip location of Budds Beach within Surfers Paradise, when you hear Gold Coast lifestyle, this is it! With a distinctive community feel, Budds Beach’s exclusivity makes this affordable entry level management rights a golden opportunity. With an average 4.5 hours work per week* for $62,000+ NOP, this is a no brainer!
Property Description
* $62,387 FY2022 Net Operating Profit (NOP)
* $50,016 per annum current Caretaker salary with CPI annual increases
* 20 years left on caretaker and letting agreements - expiry in 2042
* 14 units out of 30 in permanent letting pool
* Manager's unit is 30%* larger than other units in the complex and includes basement storage room and 1 car park
* Separate office at complex entry provides you with option to add holiday letting
* Motivated seller is relocating to another city
* An ideal entry-level management rights opportunity in Budds Beach locale
* Low hours required to complete caretaker duties - ideal for retiree or as second income
This is THE BEST BUY in Surfers Paradise. A must-see opportunity that has got to be sold. My Sellers are committed elsewhere and will consider all offers. Do not miss this rare opportunity. Call Craig to arrange an inspection for this fantastic budget buy.
*approx
Please contact the listing agent for more details by clicking on the link above.
Disclaimer:
Ray White has not independently checked any of the information we merely pass on. We make no comment on and give no warranty as to the accuracy of the information contained in this document which does not constitute all or any part of any offer or contract by the recipient. Prospective purchasers / lessees must rely on their own enquiries and should satisfy themselves as to the truth or accuracy of all information given by their own inspections, searches, inquiries, advices or as is otherwise necessary. No duty of care is assumed by Orchid Avenue Realty trading as Ray White Surfers Paradise Commercial divisions toward the recipient with regard to the use of this information and all information given is given without responsibility.
Business Summary
Key Investment Insights
Key Insights:
1. The business for sale is located in the blue chip location of Budds Beach within Surfers Paradise.
2. The current manager's unit is larger than other units in the complex and includes a basement storage room and 1 car park.
3. The caretaker and letting agreements have 20 years left, expiring in 2042.
4. The average 4.5 hours of work per week for $62,000+ NOP makes this a low maintenance opportunity.
5. The current manager's salary is $50,016 per annum with CPI annual increases.
6. The complex has 30 units, with 14 units in the permanent letting pool.
7. The separate office at the complex entry provides the option to add holiday letting.
8. The seller is motivated to sell and is relocating to another city.
9. This is an ideal entry-level management rights opportunity, with low hours required for caretaker duties.
10. The seller will consider all offers and this is a rare opportunity that must be seen.
11. Ray White has not independently checked the information and makes no warranty as to its accuracy.
