Surfers Paradise, Queensland

Surfers Paradise Supervisory Management Rights

$1,720,000

Business Description

Nestled in the vibrant heart of Surfers Paradise this unique supervisory role Management Rights business takes the hard work out of running this complex.

Boasting a lucrative Body Corporate salary, this establishment sets itself apart by alleviating the burdens of day-to-day operations. The Body Corporate generously covers essential services including public area cleaning, gardening, pool maintenance, and office utilities, empowering new owners to focus on strategic growth of the letting business.

This charming three storey walk up features a heated outdoor pool, BBQ area, and convenient underground parking. The spacious air-conditioned residence encompasses a large 2-bedroom layout, complete with a versatile study/office, 1 bathroom, 2 toilets, and a car space, complemented by a bonus storage area for added convenience.

The diverse letting pool comprises of 10 holiday units and 25 permanent residences with ample opportunity to expand by reclaiming 23 units currently managed by external agents.

As the current owners prepare to embark on their well-deserved retirement after 13 years of ownership, the opportunity exists for new owners to grow this business further.

Seize the chance to view this business today!

Net Profit: $275,000

Property Code: 55

Business Summary

Business Snapshot

Price: $1,720,000 Net Profit: $275,000 Remuneration / Body Corp Salary: $151,055Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $600,000Bedrooms: 2Bathrooms: 1Office: Exclusive UsePets OK: Yes

Complex Information

Complex Type: HolidayTotal Units in Complex: 88Total Units in Letting Pool: 35Owner Occupy Units: 6Outside Agent Units: 23Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 15.5 yearsPool: YesBBQ Area: Yes

Marketing Agent

Craig Johnson

Hotel Resort Sales

Key Investment Insights

Key Insights:

1. Unique supervisory role management rights business in the vibrant heart of Surfers Paradise.
2. Lucrative Body Corporate salary covers essential services, allowing owners to focus on strategic growth of the letting business.
3. Charming three storey walk up with heated outdoor pool, BBQ area, and convenient underground parking.
4. Spacious air-conditioned residence with 2 bedrooms, study/office, 1 bathroom, 2 toilets, and car space.
5. Diverse letting pool of 10 holiday units and 25 permanent residences, with potential to expand by reclaiming 23 units managed by external agents.
6. Current owners retiring after 13 years of ownership, providing opportunity for new owners to grow the business.
7. Net profit of $275,000 and property code of 55.
8. Managers unit valued at $600,000 with 2 bedrooms, 1 bathroom, and exclusive use office.
9. Complex type is holiday with 88 total units and 35 in the letting pool.
10. Agreement module is accommodation with a term of 25 years and 15.5 years remaining.
11. On-site amenities include a pool and BBQ area.

Management Rights Multiplier: 4.07
ROI Estimate: 24.55%