Surfers Paradise, Queensland

Easy To Manage Holiday Building In Surfers Paradise - ID 9110

$1,200,000

Business Description

Management Rights For Sale
No Requirement To Live Onsite or To Have A Licence

- As new building, only 5 years old

- Loads of potential with 33% of the lots not in the manager's letting pool

- Very low caretaking duties

- 2 bedroom manager's residence currently in the letting pool

- Residential roof top recreational area

- All apartments have large live-in balconies

- Great views across the Surfers Paradise skyline and Nerang River

- All apartments in the letting pool are leasebacks

- 5 minute walk to the beach

Here is a very easy management rights business to run, showing a great return. The building is only 5 years old and still presents as brand new. The high returns are generated from leasebacks with 1, 2 and 3 year agreements in place. There are established systems to enable most of the work to be done remotely. There is very little caretaking work required. Ideal business as a bolt-on to an existing management rights business of for someone seeking semi-retirement.

Net Profit: $178,117
Asking Price: $1,200,000
(Inclusive of Manager's Real Estate)

For further information or to arrange an inspection of this Gold Coast Management Rights business for sale contact:

Management Rights Broker
Gerard Dixon

Property Code: 702

Business Summary

Business Snapshot

Price: $1,200,000 Net Profit: $212,669 Remuneration / Body Corp Salary: $15,250

Managers Unit

Value of Managers Apartment: $900,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Pets OK: Yes

Two bedrooms, Two bathrooms, Air conditioning, Ceiling fans, Spacious open plan living, Large balcony, European appliances, Custom cabinetry and stone benchtops

Complex Information

Complex Type: HolidayTotal Units in Complex: 24Total Units in Letting Pool: 5Owner Occupy Units: 14Outside Agent Units: 5Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsBBQ Area: Yes

Marketing Agent

Gerard Dixon

MR Sales

Key Investment Insights

1. Building is only 5 years old and still presents as brand new.
2. High returns generated from leasebacks with 1, 2 and 3 year agreements in place.
3. Established systems in place to enable most of the work to be done remotely.
4. Very little caretaking work required.
5. Ideal business as a bolt-on to an existing management rights business or for someone seeking semi-retirement.
6. Net profit of $178,117.
7. Asking price of $1,200,000 (inclusive of Manager's Real Estate).
8. Manager's residence is a 2 bedroom apartment currently in the letting pool.
9. Residential roof top recreational area.
10. All apartments have large live-in balconies.
11. Great views across the Surfers Paradise skyline and Nerang River.
12. All apartments in the letting pool are leasebacks.
13. 5 minute walk to the beach.
14. Complex is a holiday complex with 24 units.
15. 33% of the lots are not in the manager's letting pool, providing potential for growth.
16. No requirement to live onsite or to have a licence.
17. Low caretaking duties.
18. Manager's apartment has a value of $900,000.
19. Agreement module is Accommodation with a term of 25 years and 23 years remaining.
20. Complex has a BBQ area.

Management Rights Multiplier: 1.41
ROI Estimate: 70.89%