Surfers Paradise, Queensland

Prime Management Rights Opportunity in Surfers Paradise

$2,290,000

Business Description

Seize the opportunity to capitalise on this long established Surfers Paradise Management Rights business, whereby the current owner has been operating since 2014.

Centrally located in Surfers Paradise, this Management Rights complex is situated in a prime tourist location. A popular spot for holiday visitors due to being a short stroll to Cavill Avenue, beach, shopping, cafes, restaurants and its accessibility to the tram line.

Offering a mix of one, two and three bedroom fully self-contained airconditioned apartments, all featuring a private balcony with either an ocean, mountain or river view. Guests can enjoy amenities such as a Pool, Spa, Gym and underground secure parking.

With a supportive body corporate the business has just been successful in securing a top of their agreement to 24 years. The complex has just undergone a major refurbishment of their Tennis Court, Undercover BBQ area and Sauna/Public amenities area and as a result there is minimal caretaking duties to be undertaken. The body corporate also a gardener every four months to ensure the high level of presentation around the grounds.

Included is a ground floor airconditioned managers unit comprising of two bedrooms, one bathroom, separate laundry, one car space plus four large storage areas for management. The current owner chooses to live offsite and has an appointed nominee residing onsite.

With the hard work completed and systems in place, there is still huge potential to grow this business even further by securing the 18 outside agents back into the letting pool.

Call me today to discuss this opportunity!

Net Profit: $333,723

Property Code: 41

Business Summary

Business Snapshot

Price: $2,290,000 Net Profit: $333,723 Remuneration / Body Corp Salary: $112,700Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $629,500Bedrooms: 2Bathrooms: 1Car Spaces: 1Office: Exclusive UsePets OK: Yes

2 Bedroom + 1 Bathroom, Ground floor airconditioned unit with separate laundry, 1 Car Park + 4 large storage areas

Complex Information

Complex Type: HolidayTotal Units in Complex: 73Total Units in Letting Pool: 26Owner Occupy Units: 26Outside Agent Units: 18Lockup Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesSpa: YesSauna: YesGym: YesTennis Court: YesBBQ Area: Yes

Marketing Agent

Craig Johnson

Hotel Resort Sales

Key Investment Insights

1. Established Management Rights business in a prime tourist location in Surfers Paradise.
2. Mix of one, two, and three bedroom fully self-contained apartments with private balconies and various views.
3. Amenities such as a pool, spa, gym, and secure parking available for guests.
4. Supportive body corporate with a recent 24-year agreement secured.
5. Minimal caretaking duties due to recent refurbishments and hired gardener.
6. Ground floor managers unit with two bedrooms, one bathroom, and separate laundry.
7. Potential for growth by securing 18 outside agents back into the letting pool.
8. Net profit of $333,723.
9. Managers unit valued at $629,500.
10. Complex information includes 73 units, 26 in the letting pool, and various facilities such as a pool, spa, sauna, gym, tennis court, and BBQ area.

Management Rights Multiplier: 4.98
ROI Estimate: 20.10%