Whitsundays, Queensland

Urgent Sale and Priced Accordingly

$920,000

Business Description

Delightful Mediterranean Villa style property nestled into the hillside and offering spectacular views of the Coral Sea and Whitsunday Islands. Four star rated.
The majority of units have been tastefully refurbished including new furniture. Excellent mixed letting business which provides a good cash flow in the quiet times.
Currently as a result of Covid the short term holiday rentals have been converted to long term. These will again be converted back to short term as the demand dictates.
Airlie Beach continues as a major tourism destination within the Whitsunday area.
Growth is returning and Reefside provides a good consistent business return and would be highly suitable for those new to the industry or an operator looking to scale back and enjoy a great lifestyle.
Contact Calvin for further information on this property.

Business Summary

Business Snapshot

Price: $920,000 Net Profit: $130,000 Remuneration / Body Corp Salary: $85,266Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $400,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Excellent three bedroom two bathroom villa with large private courtyard. Very spacious 165m2.

Complex Information

Complex Type: MixedTotal Units in Complex: 36Total Units in Letting Pool: 17Holiday Units: 1Permanent Units: 16Owner Occupy Units: 13Outside Agent Units: 6Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 19 yearsPool: YesBBQ Area: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. The property is a four-star rated Mediterranean villa style property with stunning views of the Coral Sea and Whitsunday Islands.
2. Majority of units have been recently refurbished with new furniture.
3. The property has a good mix of short-term holiday rentals and long-term rentals, providing a steady cash flow.
4. Due to the impact of Covid, the short-term holiday rentals have been converted to long-term, but will be converted back as demand returns.
5. Airlie Beach is a popular tourist destination in the Whitsunday area, ensuring a consistent demand for accommodation.
6. The property has a net profit of $130,000 and a body corp salary of $85,266, with annual CPI reviews.
7. The manager's unit is a spacious three bedroom, two bathroom villa with a large private courtyard.
8. The complex has a mix of 36 units, with 17 in the letting pool and 1 holiday unit.
9. The agreement module is "Accommodation" with a remaining term of 19 years.
10. The complex has amenities such as a pool and BBQ area.

Management Rights Multiplier: 4.00
ROI Estimate: 25.00%