Surfers Paradise, Queensland

Surfers Paradise Prime Management Rights Opportunity

$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

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 Use
2 Bedroom + 1 Bathroom Ground floor airconditioned unit with separate laundry, 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
Hotel Resort Sales

Hotel Resort Sales

Key Investment Insights

1. Well-established management rights business located in a popular tourist destination.
2. Prime location in Surfers Paradise, with easy access to popular attractions and public transportation.
3. Mix of one, two, and three bedroom fully self-contained apartments with private balconies and views.
4. Amenities including a pool, spa, gym, and secure parking.
5. Supportive body corporate with a recently secured 24-year agreement.
6. Minimal caretaking duties due to recent refurbishment and regular gardening services.
7. Ground floor manager's unit with two bedrooms, one bathroom, and additional storage space.
8. Potential for growth by securing 18 outside agents back into the letting pool.
9. Net profit of $333,723.
10. Manager's unit valued at $629,500.
11. Complex information includes 73 units, 26 in the letting pool, and a mix of holiday and owner-occupied units.
12. Agreement module is accommodation with 24 years remaining on the term.
13. On-site amenities include a pool, spa, sauna, gym, tennis court, and BBQ area.

Management Rights Multiplier: 4.98
ROI Estimate: 20.10%

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