Surfers Paradise, Queensland

PRICE REDUCTION - SURFERS PARADISE MANAGEMENT RIGHTS

$1,650,000

Business Description

Live and work by the beach with this fantastic holiday complex in Surfers Paradise. An excellent opportunity exists to purchase a great business in a prime tourist location. Showing good net profit and with 23 years left on the agreement this management rights business is great buying.

There are 15 apartments (2 apartments are dual key) in the letting pool. The complex has an outstanding reputation with guests and has a Booking.com rating of "9.2 out of 10 Superb", one of the highest in the area.

Offering a great lifestyle, low maintenance complex, with no set office hours and great systems in place this is the perfect business for first timers to the management rights industry or experienced operators. Easily run by 1 person with a fantastic and supportive Body Corporate and committee. There is also an opportunity to live off site offering further income potential with the current rental market at an all-time high.

This complex is a guest favourite, with great room options available from Studio rooms, 1-bedroom apartments, 2-bedroom apartments to a 3-bedroom penthouse.

- Perfect for first timers

- Low Maintenance

- No set office hours

- 100 metres from tram and shopping centre

- 100 metres to one of the best Surf Clubs on the coast

- Beach access directly opposite

- Great Managers Unit

- Fantastic and supportive Body Corporate and committee

- 23 years left on agreement

Call now for further information or to arrange an inspection.

Property Code: 1259

Business Summary

Business Snapshot

Price: $1,650,000 Net Profit: $173,492 Remuneration / Body Corp Salary: $57,151Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $950,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: Exclusive UsePets OK: Yes

Stylish 2-bedroom, 2-bathroom apartment huge courtyard and additional entertaining room, 1 car space

Complex Information

Complex Type: MixedTotal Units in Complex: 24Total Units in Letting Pool: 12Owner Occupy Units: 9Lockup Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesSpa: YesSauna: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Scott Saunders

Premier Business Sales

Key Investment Insights

1. Fantastic opportunity to purchase a management rights business in a prime tourist location.
2. Good net profit and 23 years remaining on the agreement make this a great investment.
3. Low maintenance complex with no set office hours.
4. Great systems in place, perfect for first timers or experienced operators.
5. Opportunity to live off-site for additional income potential.
6. Highly rated by guests with a Booking.com rating of 9.2 out of 10.
7. Variety of room options available, including a 3-bedroom penthouse.
8. Convenient location, 100 metres from tram and shopping centre.
9. Direct beach access and close to one of the best Surf Clubs on the coast.
10. Stylish 2-bedroom, 2-bathroom manager's apartment with a huge courtyard and additional entertaining room.
11. Supportive Body Corporate and committee.
12. Complex includes pool, spa, sauna, BBQ area, and WIFI.
13. 12 units in the letting pool, with 2 being dual key apartments.
14. Manager's unit valued at $950,000.
15. Agreement module is accommodation with 25 years remaining.

Management Rights Multiplier: 4.03
ROI Estimate: 24.78%