Surfers Paradise, Queensland
Waterfront Permanent Complex
SOLD
Business Description
Main Beach Location
- Prestigious high-rise complex located in a sought after area, metres to the beach, Tedder Avenue restaurants and cafes, yacht club and very close to light rail station
- 181 lots consisting of 1, 2 and 3 bedroom units, 31 lots in the letting pool, large amount of lock-ups
- Very comfortable 2 bedroom, 2 bathroom managers residence, recently renovated, air conditioned, 2 car parks, 2 large courtyard areas
- Mainly supervisory with no gardening or cleaning, pro-active Body Corporate
- Resort style facilities include indoor and outdoor pools, 2 saunas, 3 tennis courts, BBQ areas, security parking, on-site security
Net Profit $218,693
Property Code: 729
Business Summary
Key Investment Insights
1. Prestigious waterfront high rise in a prime Main Beach location, metres to the beach.
2. Immediate proximity to Tedder Avenue restaurants and cafes, yacht club and light rail station, enhancing appeal to residents and short stay guests.
3. Large complex scale with 181 lots comprising 1, 2 and 3 bedroom units, offering portfolio diversity.
4. Only 31 lots currently in the letting pool, indicating a clear opportunity to increase rental inventory and revenue.
5. Significant number of lock ups, providing storage/secure parking capacity and potential ancillary income or tenant convenience.
6. On site managers residence, 2 bedroom 2 bathroom, recently renovated, air conditioned, with 2 car parks and 2 large courtyards, supporting effective on site management and reduced accommodation costs.
7. Primarily supervisory operational model with no gardening or cleaning required, implying low day to day staffing demands.
8. Proactive Body Corporate, indicating organised governance and likely efficient complex management.
9. Resort style facilities including indoor and outdoor pools, 2 saunas, 3 tennis courts and BBQ areas, supporting premium positioning and resident satisfaction.
10. Security parking and on site security, enhancing safety and attractiveness to long term tenants and holiday makers.
11. Reported net profit of $218,693, demonstrating current profitability for an owner operator or investor.
