Surfers Paradise, Queensland

OPULENCE ON MAIN RIVER

SOLD

Business Description

Exclusive Residential Only permanent high-rise in serene riverfront location in central Surfers Paradise, Gold Coast. Beautifully positioned, panoramic by day, dazzling at night and fully secure with outstanding facilities including infinity pool, gym, residents lounge and marina this much-admired architectural masterpiece befits the most fastidious buyer.

Brand new 25 year Agreements with Gallery Vie compliance, office on title with no set hours, generous remuneration, ample storage and a pro-active and supportive Committee are all features highly desired. High-end letting apartments attract the preferred tenants every landlord seeks.

Superb 2 bedroom, 2 bathroom Manager’s apartment is pet friendly, north facing and elevated with stunning riverfront outlook, high ceilings, central air conditioning, separate laundry and a secure courtyard for entertaining in style.

Best described as a lifestyle to be envied!

Business Summary

Business Snapshot

Price: SOLD Net Profit: $141,637 Remuneration / Body Corp Salary: $90,294Business Value: $694,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $695,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

2 bedroom, 2 bathroom, River view, central air con, fenced courtyard, 1 car space

Complex Information

Complex Type: PermanentTotal Units in Complex: 55Total Units in Letting Pool: 14Owner Occupy Units: 26Lockup Units: 14Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesGym: YesBBQ Area: YesPay TV: YesFunction Facilities: YesMarina Berth: Yes

Marketing Agent

Rhonda Perkins

Property Bridge

Key Investment Insights

Key Insights:

- Exclusive residential only permanent high-rise in a serene riverfront location in central Surfers Paradise, Gold Coast.
- Brand new 25 year Agreements with Gallery Vie compliance.
- Office on title with no set hours.
- Generous remuneration and ample storage.
- Pro-active and supportive Committee.
- High-end letting apartments attract preferred tenants.
- Superb 2 bedroom, 2 bathroom Manager's apartment with stunning riverfront outlook, high ceilings, central air conditioning, and secure courtyard.
- Lifestyle to be envied.
- Net profit of $141,637.
- Remuneration/Body Corp Salary of $90,294 with CPI annual review.
- Manager's apartment valued at $695,000.
- Complex type is permanent with a total of 55 units.
- 14 units in the letting pool, 26 owner-occupied units, and 14 lockup units.
- Agreement module is Accommodation with a term of 25 years and 24 years remaining.
- Complex amenities include an infinity pool, gym, BBQ area, pay TV, function facilities, and a marina berth.

Management Rights Multiplier: 4.90
ROI Estimate: 10.20%