Modern complex set in peaceful surroundings and just a short stroll to the Coolum beach, shops and restaurants.
Excellent operating systems and manuals in place to make life easier for the incoming manager along with an ongoing marketing plan that compliments the already 33% of repeat and referral business. Current managers have just tapped into the corporate market which will see further growth in occupancy and net profit as the infrastructure boom on the Sunshine Coast continues.
Long term managers; 9+ years - with all systems in place to make incoming manager transition easier. Managers very keen to move on to next project, leaving Seacove with plenty of room to grow. Occupancy rate is sitting around 50%, with direct, repeat, referral business accounting for 50% of bookings. Five-year extension to Agreement approved and now at 21 years. Additionally, the Gallery Vie clause was approved with agreements now being amended. Both these increase lender's security.
Progressive/supportive/stable Body Corporate committee. Extremely low maintenance complex easily managed by a couple plus cleaning staff. Body Corporate pay for hedge/tree trimming over shoulder height.
Property facilities include:
- Swimming Pool
- Cable TV
- BBQ Facilities
- Opposite Beach
Business SnapshotPrice: $1,295,000Net Profit: $186,265 Remuneration: $48,188
Managers UnitValue of Managers Apartment: $520,000Bedrooms: 4Car Spaces: 1Office: On TitlePets OK: Yes
Large 4-bedroom, 2-bathroom and 2 living areas air-conditioned stand-alone manager's house. Great for a family or couple looking for that extra room/storage. 3 air-conditioners downstairs in living area, office and back-office with ducted a/c upstairs. Pet-friendly, current managers have cat with body corporate approval. Large reception/back office on title attached to residence.
Complex InformationTotal Letting Pool: 33Agreement Term: 25 years