by Grantlee Kieza
31st March, 2021
Golden opportunity in Cairns sunshine – The Grosvenor, Cairns
It’s the ideal property to enter the world of management rights – 23 units in a modern popular holiday apartment block at the gateway to the Great Barrier Reef.
The owners of the management rights at the Grosvenor on McLeod Street in Cairns have operated the apartments for the last 13 years, but are now motivated to sell a business returning a profit of $127,415 a year.
The sale of the well-located, four-star holiday letting property in North Queensland comes with a two-bedroom, two-bathroom unit with a car space, private courtyard and office on title.
The manager also has exclusive use of a back office and two large storage areas.
With a price tag of $670,000, the property represents “excellent value and a great opportunity”, according to Cairns management rights expert Calvin Bailey.
“The property is in a very good location and is reasonably close to most facilities,” Mr Bailey said.
“There are 23 units but they are dual key, with one bedroom, plus studio apartments that provide flexibility for family stays and which are designed purely for holiday purposes."
“The property is a ‘three multiplier’ - priced at three times the profit plus the value of the unit, which is a very good size with its own private courtyard at the rear and there is also another area where the manager can have a back office."
“All in all it's very well priced for the market and an ideal property for those people who want to begin working in the management industry.”
The Grosvenor is suitable for both long and short-term letting as required and there is also considerable further business growth possible with the retrieval of units from outside agencies. There are 22 years remaining on body corporate agreements.
The Grosvenor is just a 10-minute walk to the Cairns Esplanade, with its popular open-air markets, al fresco cafés, and saltwater lagoon offering families cool respite on a hot day.
Cairns was founded in 1876 and named after Sir William Wellington Cairns, the Governor of Queensland from 1875 to 1877, and today is one of the most fabulous tourist destinations in Australia.
The Great Barrier Reef’s spectacular array of coral, tropical fish, turtles and rays form one of the seven natural wonders of the world, and Cairns is the centre of reef exploration.
Manny Moreno on Unsplash " class="img-fluid img-responsive" src="https://accomproperties.com.au/sc/management-rights-for-sale/The%20Grosvenor/manny-moreno-X9TEqJWmM6Q-unsplash.jpg" style="margin-bottom:10px; margin-top:10px" />Daintree Rainforest. Photo by Manny Moreno on Unsplash
The nearby World Heritage-listed Daintree Rainforest is full of wonders that astonish visitors with beauty and diverse wildlife.
Cairns’s botanical gardens are 135 years old, but more than ever bursting with life and colour, boasting probably the biggest and most unique collection of tropical plants in the country, with more than 4000 plant species.
Nearby Kuranda is situated on Atherton Tableland hills and has a lush rainforest that provides the most stunning views. With waterfalls, ravines, and some great local markets, there are, as well, Birdworld, the Kuranda Koala Gardens and the Australian Butterfly Sanctuary.
Find the The Grosvenor sale details HERE.