Unsurpassed Luxury Apartments – Mid North Coast NSW - 1P4949MR
As exclusive agents, CRE Brokers are proud to present this magnificent Mid North Coast Management Rights property.
Excellent location in the heart of the Forster town centre with wonderful views of the lake, town and ocean.
37 Luxury Apartments – 32 in the letting pool with only 1 permanent residence and 4 lockups (no outside agents).
Increasing financial returns – 74% occupancy and ability to increase tariffs each year since opening in December 2007.
. 2 bedroom/2 bathroom modern Manager's residence
. Outstanding relationships with the Body Corporate and owners
. 10 year agreement with bi-annual 2 year extensions
. Office on Title
Manager's Unit Price: $500,000
Business Price : $2,850,000
Total Asking Price: $3,350,000
Price: Management Rights $3,350,000
Net Profit: $570,000 Remuneration / Body Corp Salary: $64,845Body corp salary review: Other
Managers UnitValue of Managers Apartment: $500,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: No
Complex InformationComplex Type: HolidayStar Rating: 5Total Units in Complex: 37Total Units in Letting Pool: 32Holiday Units: 32Owner Occupy Units: 1Lockup Units: 4Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 10 yearsPool: YesPay TV: YesWIFI: YesFunction Facilities: Yes
Other Features / Notes
A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:NSW - Central Coast/Hunter