Surfers Paradise, Queensland

Resort Style Dual Living - Surfers Paradise, Gold Coast

$1,240,000

Business Description

Prime location with full resort facilities, positioned close to all Surfers Paradise has to offer from the incredible beaches walking distance away, shopping centres, boutiques, renowned cafes and restaurants and public transport. Cannes Court Apartments has 44 spacious and fully self-contained apartments, complete with kitchen, bathroom and laundry. Management unit with 2 bedrooms, 1 bathroom, 2 car spaces with a large patio plus a 1-bedroom self-contained unit. On title also is 18 rental cages, underutilised at the moment. The business currently has a nett figure of $117,779 per annum however with the dual living, it gives lots of options for increased income. 14 permanent lettings but opportunities exist with 7 outside agents. A body corporate salary of $84,518. Accommodation module with 19 years left of term. Minimal caretaking duties with no office hours. Priced to Sell - $1,240,000

Business Summary

Business Snapshot

Price: $1,240,000 Remuneration / Body Corp Salary: $84,518

Managers Unit

Value of Managers Apartment: $910,000Bedrooms: 2Bathrooms: 1Car Spaces: 2
Management unit with 2 bedrooms, 1 bathroom, 2 car spaces with a large patio plus a 1-bedroom self-contained unit. Combined could be rented at $700 per week and $450 per week respectively.

Complex Information

Complex Type: PermanentTotal Units in Complex: 44Total Units in Letting Pool: 12Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 19 years yearsPool: YesSpa: YesBBQ Area: Yes
Marketing Agent
Lyn Pearsall
Lyn Pearsall

Mark McKay
Mark McKay

Key Investment Insights

1. Prime location in Surfers Paradise with full resort facilities, close to beaches, shopping, and public transport.
2. 44 spacious and fully self-contained apartments, offering a range of accommodation options for guests.
3. Dual living setup with a management unit and a 1-bedroom self-contained unit, providing potential for increased income.
4. On-site rental cages, currently underutilized, offer additional income opportunities.
5. Strong financials with a nett figure of $117,779 per annum and a body corporate salary of $84,518.
6. Accommodation module with 19 years remaining on the agreement term.
7. Minimal caretaking duties and no office hours, providing a low-maintenance business opportunity.
8. Priced competitively at $1,240,000, offering potential for a good return on investment.
9. 14 permanent lettings currently in place, with potential for growth through utilizing 7 outside agents.
10. Resort-style amenities including a pool, spa, and BBQ area, providing a desirable lifestyle for guests.
Listing location
Gallery

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