Surfers Paradise, Queensland

MANAGEMENT RIGHTS FOR SALE SURFERS PARADISE - AWARD WINNING COMPLEX

UNDER OFFER

Business Description

Prestigious Management Rights business for sale with dazzling panoramic views over the Pacific Ocean, Nerang River and Gold Coast Hinterland.

The fabulous managers apartment is North facing with a fully renovated open plan kitchen which is adjacent to dining and lounge areas.

The building is ideally located with easy access to the many attractions of both Surfers Paradise and Broadbeach. This fantastic holiday management rights complex is ideal for first time owner operators where you will be inheriting well established processes and operations that make this business a proven success.

- Comfortable two bedroom managers residence.

- Secure underground car parking for 2 vehicles.

- Gym and Sauna

- River Access with private boat launch.

- Supportive and proactive body corporate.

- New light rail on your doorstep

- Generous Body Corporate Salary

- Net Profit - $205,000* Approx

Call now to book an inspection.

Property Code: 372

Business Summary

Business Snapshot

Price: UNDER OFFER Net Profit: $205,000 Remuneration / Body Corp Salary: $118,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $850,000Bedrooms: 2Bathrooms: 1Car Spaces: 2Office: Exclusive UsePets OK: Yes

2 Bedroom, 1 Bathroom Ground Floor + 2 Courtyards 2 Car Parks Marina Berth ($25pw)

Complex Information

Complex Type: MixedTotal Units in Complex: 63Total Units in Letting Pool: 13Owner Occupy Units: 48Outside Agent Units: 3Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 9 yearsPool: YesSpa: YesSauna: YesGym: YesBBQ Area: YesWIFI: YesMarina Berth: Yes

Marketing Agent

Sam Saunders

Premier Business Sales

Key Investment Insights

1. Prestigious management rights in Surfers Paradise with panoramic views over the Pacific Ocean, Nerang River and Gold Coast Hinterland, award winning complex appeal.
2. Net profit approximately $205,000, with a generous body corporate salary of $118,000, body corporate salary reviewed by CPI annually.
3. Managers apartment valued at $850,000, comfortable two bedroom residence, fully renovated open plan kitchen, north facing orientation.
4. Managers unit features ground floor location, two courtyards, one bathroom, exclusive use office, pets allowed, and two secure underground car parks.
5. Strong onsite amenities include pool, spa, sauna, gym, BBQ area and complimentary WiFi, supporting holiday letting appeal.
6. River access with private boat launch and a marina berth available, enhancing premium waterfront marketability; marina berth cost $25 per week.
7. Convenient location with easy access to Surfers Paradise and Broadbeach attractions, and the new light rail on the doorstep for guest access.
8. Complex mix of 63 units, 13 in the letting pool and 48 owner-occupied, indicating low current rental stock and potential to grow letting pool revenue.
9. Management agreement is a standard module, 10 year term with approximately 9 years remaining, providing long-term contractual security.
10. Secure operational setup with established processes suited to first time owner-operators, described as a proven success with inherited systems.
11. Supportive and proactive body corporate, which can aid operational efficiency and relationship management.
12. Business currently listed as under offer, signalling market interest and potential competition for acquisition.

Management Rights Multiplier: 3.90
ROI Estimate: 25.63%