Surfers Paradise, Queensland

Fully Topped Up 10-Year Holiday Management Rights in Surfers Paradise, No Garden or Pool Maintenance

$1.7M MR & $1.6M UNIT = Total $3.3M

Business Description

Set on Old Burleigh Road in the heart of Surfers Paradise, this well-presented 54-apartment complex sits a short stroll from the beach and the light rail corridor linking the Gold Coast from Helensvale to Broadbeach.

The complex is well appointed, with an oversized outdoor pool, an integrated spa and a full-sized tennis court. Its 18 short-stay apartments give an incoming operator a solid income base from day one, with room to grow as more of the 32 owner-occupiers choose to place their apartments under management.

Operations are clean and simple: an exclusive-use office, Hirum software, and a body corporate salary of $109,369 per annum, reviewed annually against CPI.

The letting rights sit on the standard 10-year module and are being fully topped up, giving a full decade of income security on a fresh contract in a market where shorter terms are the norm.

Onsite residence is available, and a nominee manager can be appointed. The three-bedroom, two-bathroom manager's residence has direct office access, so you can live and work in the same place.

The body corporate handles gardens and pool upkeep, so your time goes to bookings and guests, not maintenance.

** Ras360 Property Solutions – Specialists in Parks | Pubs | Hotels | Motels | Management Rights **

Business Summary

Business Snapshot

Price: $1.7M MR & $1.6M UNIT = Total $3.3M Net Profit: $410,024 Remuneration / Body Corp Salary: $109,369

Managers Unit

Value of Managers Apartment: $1,600,000Bedrooms: 3Bathrooms: 2Car Spaces: 2

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 54Total Units in Letting Pool: 18Owner Occupy Units: 35Outside Agent Units: 1Agreement Term: 10 yearsAgreement Term Remaining: 10 years

Marketing Agent

Kevin Tsai

0403 44....

Greg Litzner

0499 00....

Ras360

Key Investment Insights

AI generated. Confirm details with the seller.

1. Reported net profit of $410,024, with a total asking price of $3.3 million including the manager's apartment.
2. Fully topped up management rights provide a fresh 10 year agreement.
3. Body corporate salary of $109,369 per annum is reviewed annually against CPI.
4. Established letting pool of 18 holiday apartments within a 54 apartment complex.
5. Potential to expand the letting pool if more owners choose to place apartments under management.
6. Old Burleigh Road location in central Surfers Paradise, a short stroll from the beach and light rail corridor.
7. Body corporate handles garden and pool maintenance, allowing the operator to focus on bookings and guests.
8. Exclusive use office and Hirum software support established booking and guest management operations.
9. Complex facilities include an oversized outdoor pool, integrated spa and full sized tennis court.
10. Manager's residence offers three bedrooms, two bathrooms, two car spaces and direct office access.
11. Onsite residence is available, with the option to appoint a nominee manager.

Management Rights Multiplier: 4.15
ROI Estimate: 12.42%